Featured Product

    Nordea Bank and EIB Sign Agreement to Fund Green Projects in Nordics

    September 15, 2021

    The European Commission (EC) announced that Nordea Bank has signed a guarantee agreement with the European Investment Bank (EIB) Group to support the sustainable transformation of businesses in the Nordics. The EIB Group (comprising EIB and the European Investment Fund) will guarantee a portfolio of Nordea lending up to EUR 1.8 billion, freeing up capital for new loans for sustainable initiatives of Swedish and Finnish companies. As part of the agreement with the EIB Group, which is owned by the EU member states, Nordea Bank has committed to extend funding at attractive terms to eligible green projects. This gives Nordea Bank the opportunity to provide small and medium-size (SME) customers in Finland and Sweden lower than usual rates to fund investments that meet well-defined sustainability criteria.

    The green loans will be offered to eligible SME businesses and include offering reduced margins for eligible projects. Nordea Bank has committed to reach net-zero emissions by 2050 and to reduce CO2 emissions from its lending portfolio by 40%-50% by 2030. During the third quarter of 2021, Nordea will be ready to offer its customers advice about the new lending offering and will start issuing the new sustainable, guaranteed loans. In March 2021, Nordea had signed an agreement with the EIF to support SMEs in Sweden, Finland, and Denmark with attractive lending, to manage companies facing temporary COVID-19 circumstances and/or to accelerate their growth. This initiative is backed by the European Union's Investment Plan for Europe, which is aimed at encouraging sustainable, long-term economic growth in Europe.

     

    Related Links

    Keywords: Europe, Sweden, Finland, Banking, SME, Sustainable Finance, ESG, Lending, Credit Risk, Nordea Bank, EIB Group, EC

    Related Articles
    News

    EBA Clarifies Use of COVID-19-Impacted Data for IRB Credit Risk Models

    The European Banking Authority (EBA) published four draft principles to support supervisory efforts in assessing the representativeness of COVID-19-impacted data for banks using the internal ratings based (IRB) credit risk models.

    June 21, 2022 WebPage Regulatory News
    News

    BIS Hub Updates Work Program for 2022, Announces New Projects

    The Bank for International Settlements (BIS) Innovation Hub updated its work program, announcing a set of projects across various centers.

    June 17, 2022 WebPage Regulatory News
    News

    US Senate Members Seek Details on SEC Proposed Climate Disclosure Rule

    Certain members of the U.S. Senate Committee on Banking, Housing, and Urban Affairs issued a letter to the Securities and Exchange Commission (SEC)

    June 16, 2022 WebPage Regulatory News
    News

    EIOPA Consults on Review of Securitization Framework in Solvency II

    The European Insurance and Occupational Pensions Authority (EIOPA) published a consultation paper on the advice on the review of the securitization prudential framework in Solvency II.

    June 16, 2022 WebPage Regulatory News
    News

    UK Authorities Issue Regulatory and Reporting Updates for Banks

    The Prudential Regulation Authority (PRA) issued a statement on PRA buffer adjustment while the Bank of England (BoE) published a notice on the statistical reporting requirements for banks.

    June 15, 2022 WebPage Regulatory News
    News

    BaFin Consults on Resolvability Requirements for Resolution Planning

    The Federal Financial Supervisory Authority of Germany (BaFin) proposed to amend the “Capital Investment Conduct And Organization Ordinance” and issued a draft circular on the minimum resolvability requirements for resolution planning.

    June 10, 2022 WebPage Regulatory News
    News

    EBA Consults on Certain Standards and Guidelines Under CRR and BRRD

    The European Banking Authority (EBA) proposed guidelines, for the resolution authorities, on the publication of the write-down and conversion and bail-in exchange mechanic, with the comment period ending on September 07, 2022.

    June 08, 2022 WebPage Regulatory News
    News

    OJK Publishes Regulatory Updates for Financial Sector Entities

    The Financial Services Authority of Indonesia (OJK) is strengthening cooperation with the Australian Prudential Regulation Authority (APRA) and the Japanese Financial Services Agency (JFSA)

    June 03, 2022 WebPage Regulatory News
    News

    EU Publishes Rules on DLT and Data Governance

    The European Parliament and the Council published Regulation 2022/868 on European data governance (Data Governance Act).

    June 03, 2022 WebPage Regulatory News
    News

    EBA Publishes Phase 2 of Reporting Framework 3.2

    The European Banking Authority (EBA) published phase 2 of its reporting framework 3.2. The technical package supports the implementation of the updated reporting framework by providing standard specifications

    June 03, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8267