Kvika banki hf.: The Central Bank of Iceland Resolution Authority approves a resolution plan for Kvika banki and sets the minimum requirement for own funds and eligible liabilities (MREL)

The Central Bank of Iceland Resolution Authority announced today that a resolution plan for Kvika has been approved and thereby a decision on the minimum requirement for own funds and eligible liabilities (MREL) for the bank, in accordance with the Act on Resolution of Credit Institutions and Investment Firms, no. 70/2020. 

According to the Resolution Authority’s decision, Kvika’s MREL requirements are 22.0% of Total Risk Exposure Amount (MREL-TREA) and 6.0% of Total Exposure Measure (MREL-TEM). The decision is effective from the date of the announcement, and the bank is already considered to meet the MREL requirements.  

For further information, please contact Kvika’s Investor Relations at ir@kvika.is or by phone at +354 540 3200.