Municipality Finance’s capital adequacy remains well above the ECB minimum requirements
01 Dezember 2023 - 10:00AM
Municipality Finance’s capital adequacy remains well above the ECB
minimum requirements
Municipality Finance PlcStock exchange release 1 December 2023
at 11:00 am (EET)
Municipality Finance’s capital adequacy remains well
above the ECB minimum requirements
The European Central Bank has updated the capital buffer
requirement (P2R) imposed on Municipality Finance Plc (MuniFin) as
part of the yearly Supervisory Review and Evaluation Process
(SREP). The requirement was kept unchanged at 2 percent. The
updated capital buffer requirement is effective on 1 January 2024.
When taking into account the P2R, the total SREP capital
requirement (TSCR) ratio is currently 10 percent.
MuniFin’s capital adequacy ratio exceeds the requirement by
multiple times. At the end of June 2023, both the Group’s total
capital ratio and CET1 capital ratio were 101.3 percent.
MuniFin is supervised by the European Central Bank and the
continuous SREP is part of the banking supervision activities. The
banking supervision aims to ensure that credit institutions have
appropriate risk management methods in place, as well as sufficient
capital and liquidity.
MUNICIPALITY FINANCE PLC
Further information:
Harri LuhtalaExecutive Vice President, CFOTel. +358 50 592
9454
MuniFin (Municipality Finance Plc) is one of Finland’s largest
credit institutions. The owners of the company include Finnish
municipalities, the public sector pension fund Keva and the
Republic of Finland. MuniFin Group also includes the subsidiary
company, Financial Advisory Services Inspira Ltd. The Group’s
balance sheet totals approximately EUR 48 billion.
MuniFin builds a better and more sustainable future with its
customers. Our customers include municipalities, joint municipal
authorities, wellbeing services counties, joint county authorities,
corporate entities under the control of the above-mentioned
organisations, and affordable social housing. Lending is used for
environmentally and socially responsible investment targets such as
public transportation, sustainable buildings, hospitals and
healthcare centres, schools and day care centres, and homes for
people with special needs.
MuniFin’s customers are domestic but the company operates in a
completely global business environment. The company is an active
Finnish bond issuer in international capital markets and the first
Finnish green and social bond issuer. The funding is exclusively
guaranteed by the Municipal Guarantee Board.
Read more: www.munifin.fi
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