Sparebanken Øst Reclassified in Regulatory Status

Sparebanken Ost (GB:0G45) has released an update.

Sparebanken Øst is no longer categorized as a bank with critical functions under Norway’s Financial Institutions Act, reducing its regulatory requirements including those related to crisis management. The bank awaits reassessment to determine if it will be considered a less significant and non-complex institution. It will still be subject to Minimum Requirement for own funds and Eligible Liabilities (MREL) but without the need for subordination.

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