April 24, 2020 / 3:32 PM / a month ago

BRIEF-Erste Group says MREL requirement for Austria equals 27.5% of RWA

April 24 (Reuters) - Erste Group Bank AG:

* ERSTE GROUP SAYS THE AUSTRIAN FINANCIAL MARKET AUTHORITY TODAY NOTIFIED ERSTE GROUP BANK AG ABOUT ITS MREL REQUIREMENT SET BY THE SINGLE RESOLUTION BOARD

* ERSTE GROUP SAYS MUST COMPLY WITH A MREL REQUIREMENT EQUIVALENT TO 14.90% OF TOTAL LIABILITIES AND OWN FUNDS (TLOF) OF THE AUSTRIAN RESOLUTION GROUP STARTING IMMEDIATELY

* ERSTE GROUP SAYS THE MREL REQUIREMENT WOULD BE EQUAL TO 27.49% IN TERMS OF RISK-WEIGHTED ASSETS

* ERSTE GROUP SAYS THESE REQUIREMENTS ARE IN LINE WITH OUR EXPECTATIONS

* ERSTE GROUP SAYS ERSTE GROUP BANK AG COMPLIES WITH THE ABOVE-MENTIONED TOTAL MREL REQUIREMENTS

* ERSTE GROUP SAYS THE REMAINING MPE RESOLUTION GROUPS (CZ, SK, RO, HU) OF ERSTE GROUP ARE GOING TO ANNOUNCE THEIR MREL REQUIREMENTS INDIVIDUALLY AFTER RECEIVING THE RESPECTIVE NOTIFICATION LETTERS Further company coverage:

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