Referring to the application of the Erste Bank AG. Vienna (leader of ERSTE Group) the Austrian Financial Market Authority (FMA) as the competent home authority has by its resolution (FMA-Ki28 1501/0041-SYS/2008) granted permission to ERSTE Bank Hungary Nyrt. to calculate capital requirement of credit risk with using internal Ratings Based (iRB) approach as of 1April, 2008.
According to Paragraph (6) of Section 14/B of the Act CXii of 1996 on Credit institutions and Financial Enterprises the above resolution of the FMA shall be binding in its entirety and directly applicable in Hungary.
28 April 2008