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Report: Nykredit warns on capital, indicates it will proceed with fee hike

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Report: Nykredit warns on capital, indicates it will proceed with fee hike

Nykredit BankA/S said it will proceed with a hike in fees on mortgage loans, despite a statement bythe Basel Committee that new rules would not significantly push up the industry'scapital needs, Reuters reported March 30.

In a statement on Twitter, cited by Reuters, Nykredit saidit believes "the Basel Committee is coming with new requirements whichwill greatly increase Nykredit's capital needs." It expects its capital requirementsto increase by at least 15 billion Danish kroner from the new rules.

The bank is set to increase fees on mortgage loans by 20%,and proceed with an IPO.

As of March 30, US$1was equivalent to 6.57 Danish kroner.