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SEB receives administrative penalty in the Baltics

The European Central Bank (ECB) has issued administrative penalties for SEB’s three Baltic subsidiaries: SEB Estonia, SEB Latvia and SEB Lithuania.

According to the ECB, certain components of SEB’s internal ratings-based (IRB) model for corporate exposures, Margins of Conservatism (MoC), did not meet ECB’s requirements and the deficiencies were not addressed in time. SEB has acknowledged the feedback and taken corrective measures. The impact on SEB’s capital position has been in place since 2023. ECB classifies the severity of the matter as two on a five-grade scale. The administrative penalties for the three Baltic subsidiaries amount to a total of EUR 1.2 million.

Read press release (europa.eu)

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