DIAC : DIAC discloses binding MREL requirement
02 Marzo 2021 - 7:30PM
DIAC : DIAC discloses binding MREL requirement
Tuesday, March 2nd, 2021
DIAC discloses binding MREL (1)
requirement
DIAC S.A. has received the notification from
ACPR, the French Prudential and Resolution Supervision Authority,
implementing the decision of the Single Resolution Board (SRB) and
discloses its binding minimum requirement for own funds and
eligible liabilities (MREL(1)).
MREL requirement is no longer defined on RCI
Group consolidated basis but has been set on an individual basis
for both RCI Banque S.A and its French subsidiary DIAC S.A.
DIAC S.A. MREL requirement has been set at 8% of
total risk exposure amount (TREA(2)) and 3% of leverage ratio
exposure (LRE(3))
As of today, DIAC S.A. already complies with
this MREL requirement. Future requirements will be subject to
ongoing review.
(1) MREL: Minimum Requirement
for own funds and Eligible Liabilities. The Bank Recovery and
Resolution Directive (BRRD) requires European banks to maintain a
minimum amount of Own Funds and Eligible Liabilities that could
absorb losses and allow them to restore their capital position,
allowing banks to continuously perform their critical economic
functions during and after a crisis. MREL represents one of the key
tools in enhancing banks’ resolvability. The purpose of this buffer
of own funds and eligible liabilities is to avoid banking
authorities having to resort to public funds. The MREL is set by
the Single Resolution Board (SRB) on a per institution basis. The
MREL requirement for RCI Banque is defined at an individual
level.(2) “TREA” means the total risk exposure amount
calculated in accordance with Article 92(3) of Regulation (EU) No
575/2013(3) “LRE” or “leverage ratio exposure” means
the total exposure measure calculated in accordance with Articles
429 and 429a of Regulation (EU) 575/20137
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À propos de DIAC
S.A. :
Wholly owned by RCI Banque S.A., DIAC financed
nearly 426 624contracts (for new and used vehicles) in 2020
and sold more than 1.2 million services.
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