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The Swedish FSA’s annual decision on Pillar 2 requirements and Pillar 2 guidance

On 29 September 2023, SEB received the result of the Swedish Financial Supervisory Authority's (SFSA) annual Supervisory Review and Evaluation Process (SREP).

The SFSA took the following decisions on Pillar 2 requirements and Pillar 2 guidance for SEB on group level:

  • A Pillar 2 requirement (P2R) of 2.3 per cent, whereof at least 1.6 per cent shall be met with Common Equity Tier 1 (CET1) capital (compared with P2R of 2.0 per cent, whereof at least 1.4 per cent with CET1 capital in the SFSA’s corresponding decision on 30 September 2022). The increased P2R compared to the SREP 2022 decision 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).
  • A REA-based Pillar 2 guidance (P2G) of 0.5 per cent of the group’s total risk-weighted exposure amount and 0.5 per cent of the group’s exposure for the leverage ratio-based P2G (compared with 1.0 per cent and 0.45 per cent, respectively, in the SFSA’s corresponding decision on 30 September 2022.) The P2G shall be covered by CET1 capital.
  • The Pillar 2 liquidity requirements for significant currencies were unchanged compared to 2022.

The decision is applicable as per 29 September 2023.

For further information, contact:
Pawel Wyszynski, Head of Investor Relations
+46 70 462 2111

Press contact:
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 17,500 employees. At 30 June 2023, the Group's total assets amounted to SEK 4,172bn while assets under management totalled SEK 2,271bn. Read more about SEB at sebgroup.com.