SEB: Preliminary 2023 SREP decision
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.