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Jyske: Regulator Increasing Solvency Floor On Weak Data

FINANCIALS

Jyske Bank (JYBC: BBB+) headlines rolling – Danish FSA increasing solvency requirements over data quality issues. Appears immaterially small and more for equity, rather than credit, investors to dislike, we feel.


  • “*DANISH FSA INCREASES SOLVENCY NEED FOR JYSKE BANK
  • *DANISH FSA COMMENTS ON DATA QUALITY INSPECTION AT JYSKE” - BBG
  • Story indicates its just a 0.2% surcharge to its solvency buffer and article alludes to operational risk RWA calculations – which is more often a capital adequacy (rather than solvency) parameter. Either way, this appears fairly minor and, if anything an equity negative as this reduces (very marginally) payout scope for equity investors.
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