Metro Bank PLC Metro Bank Capital Update
09 Dicembre 2022 - 08:00AM
UK Regulatory (RNS & others)
RNS Number : 1424J
Metro Bank PLC
09 December 2022 Metro Bank PLC (LSE: MTRO LN)
Metro Bank PLC ("Metro Bank")
Legal Entity Identifier: 213800X5WU57YL9GPK89
Metro Bank (the "Company") today announces that upon
implementation of a holding company, the Bank of England's
Resolution Directorate has agreed to provide a temporary,
time-limited, adjustment for the Company's existing GBP250 million
5.5% Tier 2 Notes (the "Notes") with respect to minimum requirement
for own funds and eligible liabilities ("MREL") eligibility until
26 June 2025.
The adjustment permits the Notes to remain eligible to count
towards the holding company's MREL requirement until 26 June 2025,
whilst remaining at the operating company. The holding company,
required to be established by 26 June 2023, is progressing well and
will become the new resolution entity post-implementation.
The adjustment has been granted in line with the statement in
the Bank of England's December 2021 MREL Policy Statement that it
may, on a firm's request, make 'temporary, time-limited
adjustments' to the implementation of its policy change on MREL
debt eligibility with respect to individual firms where to do so
would not materially affect the overall amount of loss absorbing
and recapitalisation capacity available in resolution.
The Notes have a one-time call date of 26 June 2023 and, given
the adjustment, at present Metro Bank does not expect to exercise
the call provision (unless it would be economically rational to do
so at the time and subject to Prudential Regulation Authority
approval). The Notes' eligibility for Tier 2 capital amortises from
the call date over the remaining life of the instrument if not
Metro Bank will continue to optimise its balance sheet and
review capital management actions.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 (which forms part of
UK law pursuant to the European Union (Withdrawal) Act 2018) and
was authorised for release by Melissa Conway, Company
For more information, please contact:
Metro Bank PLC Investor Relations
+44 (0) 20 3402 8900
Metro Bank PLC Media Relations
+44 (0) 7815 506845
Charles Armitstead / Haya Herbert Burns
+44 (0)7703 330269 / +44 (0) 7342 031051
About Metro Bank
Metro Bank services 2.6 million customer accounts and is
celebrated for its exceptional customer experience. It is the
highest rated high street bank for overall service quality for
personal customers and the best bank for service in-store for
personal and business customers, in the Competition and Market
Authority's Service Quality Survey in August 2022. This year it has
been awarded "Best Mortgage Provider of the Year" in 2022 MoneyAge
Mortgage Awards, "Best Business Credit Card" in 2022 Moneynet
Personal Finance Awards and "Best Current Account for Overseas Use"
by Forbes 2022 and accredited as a top ten Most Loved Workplace
2022. It was "Banking Brand of The Year" at the Moneynet Personal
Finance Awards 2021 and received the Gold Award in the Armed Forces
Covenant's Employer Recognition Scheme 2021.
The community bank offers retail, business, commercial and
private banking services, and prides itself on giving customers the
choice to bank however, whenever and wherever they choose, and
supporting the customers and communities it serves. Whether that's
through its network of 76 stores open seven days a week, 362 days a
year; on the phone through its UK-based contact centres; or online
through its internet banking or award-winning mobile app, the bank
offers customers real choice.
Metro Bank PLC. Registered in England and Wales. Company number:
6419578. Registered office: One Southampton Row, London, WC1B 5HA.
'Metrobank' is the registered trademark of Metro Bank PLC.
It is authorised by the Prudential Regulation Authority and
regulated by the Financial Conduct Authority and Prudential
Regulation Authority. Most relevant deposits are protected by the
Financial Services Compensation Scheme. For further information
about the Scheme refer to the FSCS website www.fscs.org.uk. All
Metro Bank products are subject to status and approval.
Metro Bank PLC is an independent UK bank - it is not affiliated
with any other bank or organisation (including the METRO
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(END) Dow Jones Newswires
December 09, 2022 02:00 ET (07:00 GMT)
Grafico Azioni Metro Bank (LSE:MTRO)
Da Feb 2023 a Mar 2023
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Da Mar 2022 a Mar 2023