The Danish Financial Supervisory Authority (FSA) updates BankNordik’s minimum requirement for own funds and eligible liabilities (MREL) on an annual basis and the conclusion is published here on Føroya Banki’s website.

The MREL is part of EU regulations put in place to ensure that banks have enough liabilities to absorb any potential losses without recourse to public funds.

On 21 December 2020, the FSA assigned BankNordik an MREL requirement of 28.7 % of the Group’s risk-weighted assets as per year-end 2019. The requirement will be phased in until 2025. Closer details can be found in the FSA’s decision attached in the document below (in Danish only).

• Afgørelse om NEP-krav for BankNordik (in Danish only)