Skipton Building Society Q3 2022 Pillar 3 disclosures (6359I)
2022年12月5日 - 11:49PM
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RNS Number : 6359I
Skipton Building Society
05 December 2022
RELEASE OF Q3 2022 PILLAR 3 DISCLOSURES
RNS Number: 6359I
Skipton Building Society
LEI 66AGRETLUXS4YO5MUH35
5 December 2022
SKIPTON BUILDING SOCIETY (THE "SOCIETY") RELEASES 30 SEPTEMBER
2022 PILLAR 3 DISCLOSURES WHICH INCLUDE ITS UPDATED CET1 RATIO
FOLLOWING FURTHER DEVELOPMENT OF IRB MODELS
The Society announces that a copy of the Pillar 3 Disclosures
will be available to view on the Society's website today at
https://www.skipton.co.uk/about-us/pillar-3-disclosure.
From 1 January 2022, new regulation applicable to internally
developed internal ratings-based (IRB) models resulted in the
Society applying an initial temporary model adjustment (TMA) to the
Society's regulator-approved IRB model output.
The revised TMA uplifts the expected loss and risk weighted
exposure amounts (RWEAs) produced by the incumbent
regulator-approved IRB models to the level expected once the models
are finalised to meet the new regulation. This adjustment is
applied at portfolio level. Until the IRB models are approved by
the PRA, the revised TMA remains subject to change and may cause
further movements in the capital metrics.
Whilst the revised TMA was not in place at 30 September 2022, it
has been applied throughout the Pillar 3 Disclosures as at 30
September 2022 to provide transparency as to the impact of the
revised TMA.
As detailed in the Pillar 3 Disclosures, the revised TMA
results, as at 30 September 2022, in a reduction in the Society's
CET1 ratio to 24.3% (36.5% as at 30 June 2022) and a reduction in
the Society's MREL ratio to 29.5% (44.1% as at 30 June 2022). There
have not been, and the Society does not expect there to be, any
material changes to the risk profile or strategy of the Society as
a result of the revised TMA.
Skipton Building Society
The Bailey, Skipton BD23 1DN
Telephone: 01756 705000
Email: newsline@skipton.co.uk
Website: www.skipton.co.uk
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN
PART, DIRECTLY OR INDIRECTLY, IN OR INTO OR FROM ANY JURISDICTION
WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OR
REGULATIONS OF SUCH JURISDICTION
THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION FOR THE PURPOSES
OF ARTICLE 7 OF EU REGULATION 596/2014 (WHICH FORMS PART OF
DOMESTIC UK LAW PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT
2018 ("EUWA")) ("UK MAR")." FOR THE PURPOSES OF UK MAR AND ARTICLE
2 OF COMMISSION IMPLEMENTING REGULATION (EU) 2016/1055 (WHICH FORMS
PART OF DOMESTIC UK LAW PURSUANT TO THE EUWA), THIS ANNOUNCEMENT IS
MADE BY BOBBY NDAWULA (GROUP FINANCE DIRECTOR).
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