The Swedish Financial Supervisory Authority has informed SEB of its preliminary decision regarding the 2023 Supervisory Review and Evaluation Process (SREP).
According to the preliminary decision, SEB's Pillar 2 requirement (P2R) would increase by around 0.2 percentage point for CET1 capital. The increase is mainly driven by a temporary add-on for the ongoing review of IRB-models. At the same time, the risk-weight floor for commercial real estate is transferred from P2R to Pillar 1, thereby increasing the risk exposure amount (REA).
Furthermore, the REA-based Pillar 2 guidance (P2G) would decrease by 0.5 percentage point (from 1.0 per cent to 0.5 per cent), whereas the leverage ratio-based P2G would increase by 0.05 percentage point (from 0.45 per cent to 0.5 per cent).
SEB will respond to the preliminary decision, after which the Swedish FSA makes its final decision effective as of 30 September 2023.
This disclosure contains information that SEB is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 17-07-2023 18:00 CET.
For further information, contact:
Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111
Niklas Magnusson, Head of Media Relations & External Communication
+46 70 763 8243
SEB is a leading northern European financial services group with international reach. We exist to positively shape the future with responsible advice and capital, today and for generations to come. By partnering with our customers, we want to be a leading catalyst in the transition to a more sustainable world. In Sweden and the Baltic countries, SEB offers financial advice and a wide range of financial services. In Denmark, Finland, Norway, Germany and the United Kingdom, we have a strong focus on corporate and investment banking based on a full-service offering to corporate and institutional clients. The international nature of SEB's business is reflected in our presence in more than 20 countries worldwide, with around 16,500 employees. At 31 March 2023, the Group's total assets amounted to SEK 3,802bn while assets under management totalled SEK 2,221bn. Read more about SEB at sebgroup.com.