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

    EBA Proposes Standards for IRRBB Reporting Under Basel Framework

    The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.

    January 31, 2023 WebPage Regulatory News

    FED Issues Further Details on Pilot Climate Scenario Analysis Exercise

    The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.

    January 17, 2023 WebPage Regulatory News

    US Agencies Issue Several Regulatory and Reporting Updates

    The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.

    January 04, 2023 WebPage Regulatory News

    ECB Issues Multiple Reports and Regulatory Updates for Banks

    The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.

    January 01, 2023 WebPage Regulatory News

    HKMA Keeps List of D-SIBs Unchanged, Makes Other Announcements

    The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.

    December 30, 2022 WebPage Regulatory News

    EU Issues FAQs on Taxonomy Regulation, Rules Under CRD, FICOD and SFDR

    The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.

    December 29, 2022 WebPage Regulatory News

    CBIRC Revises Measures on Corporate Governance Supervision

    The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.

    December 29, 2022 WebPage Regulatory News

    HKMA Publications Address Sustainability Issues in Financial Sector

    The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.

    December 23, 2022 WebPage Regulatory News

    EBA Updates Address Basel and NPL Requirements for Banks

    The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.

    December 22, 2022 WebPage Regulatory News

    ESMA Publishes 2022 ESEF XBRL Taxonomy and Conformance Suite

    The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.

    December 22, 2022 WebPage Regulatory News
    RESULTS 1 - 10 OF 8699