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BRIEF-Swedish FSA says Nordea needs to hold more capital
October 3, 2016 / 12:11 PM / a year ago

BRIEF-Swedish FSA says Nordea needs to hold more capital

Oct 3 (Reuters) - Sweden’s Financial Supervisory Authority, on Nordea capital requirements:

* Swedish FSA says Nordea’s probability of default estimate needs to be raised to an extent that corresponds to an additional own funds requirement of 13.8 billion Swedish crowns ($1.62 billion) (eur 1.47 billion), of which SEK 11.0 billion crowns shall consist of CET Tier 1 capital

* Says Nordea investigation has not been concluded yet; to date Finansinspektionen has only sent a first verification letter to the bank outlining the government agency’s preliminary assessments

* Says until Nordea rectifies the identified deficiencies in its internal models, the bank must provide additional capital corresponding to the above amount as part of its Pillar II capital requirements Source text: [here ] Further company coverage: ($1 = 8.5373 Swedish crowns) (Reporting by Stockholm Newsroom)

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