In December 2024, the Financial Supervision Authority (FSA) presented Bigbank AS with the outcome of the annual Supervisory Review and Evaluation Process (SREP) capital adequacy calculation. As a result of the evaluation, the FSA decided to leave the Pillar 2 capital requirements for Bigbank AS unchanged.

According to the decision of FSA, a requirement for own funds (P2R) in the amount of 3.2% from the total risk exposure amount (TREA) applies to Bigbank AS on consolidated basis, of which at least 2.4% must be covered with Core Tier 1 own funds and at least 1.8% with Tier 1 capital. This means that the Pillar 2 capital requirement remains the same as in the previous year.

The FSA has decided to keep the Pillar 2 guidance (P2G), applicable to Bigbank AS on consolidated basis, on the same level compared to last year, which is 1.5% from the TREA.

The renewed P2R and P2G ratios are applicable from 01.01.2025.

Bigbank AS (www.bigbank.eu), with over 30 years of operating history, is a commercial bank owned by Estonian capital. As of 31 October 2024, the bank’s total assets amounted to 2.7 billion euros, with equity of 267.6 million euros. Operating in nine countries, the bank serves more than 150,000 active customers and employs over 500 people. The credit rating agency Moody’s has assigned Bigbank a long-term deposit rating of Ba1, as well as a baseline credit assessment (BCA) and adjusted BCA of Ba2.

For additional information:
Argo Kiltsmann
Member of the Management Board
Phone: +372 5393 0833
E-mail: argo.kiltsmann@bigbank.ee
Website: www.bigbank.ee

Salesforce (CRM) and Okta (OKTA) report earnings after the closing bell, providing insights into the software space. Marvell Technology (MRVL) also announces results. Markets are hovering around the flat line following record closes for the S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) . With President-elect Donald Trump’s second term in the White House quickly approaching, investors are weighing the impacts of the former president’s tariff policies. Palantir (PLTR), AT&T (T), and Meta Platforms (META) are among the trading tickers on Yahoo Finance’s platform.

Key guests include:
3:00 p.m. ET – Jeffrey Kleintop, Charles Schwab Chief Global Investment Strategist
3:30 p.m. ET – Andy Nemeth, Patrick Industries CEO
3:45 p.m. ET – David Chiavarini, Wedbush Securities Managing Director of Equity Research for Mid-Cap and Regional Banks
4:15 p.m. ET – Steve Quirk, Robinhood Chief Brokerage Officer
4:45 p.m. ET – Matt Garman, AWS CEO

US stocks traded mixed on Tuesday as investors digested fresh jobs data and waited for new Fedspeak to cement or dent growing hopes for future interest rate cuts.

The S&P 500 (^GSPC) fell about 0.2%, while the tech-heavy Nasdaq Composite (^IXIC) hugged the flat line in late morning trade, coming off fresh records for the two gauges. The Dow Jones Industrial Average (^DJI) reversed earlier gains to fall roughly 0.4%.

Job openings rose by 372,000 to 7.74 million in October compared to estimates of 7.52 million, according to BLS data released on Tuesday.

The Job Openings and Labor Turnover Survey (JOLTS) also showed fewer hires were made during the month while the quits rate, a sign of confidence among workers, rose to 2.1% from 1.9% in September.

The JOLTS data serves as the first in a wave of key signals this week that culminates in Friday’s all-important monthly US payrolls report.

Traders are now pricing in about a 69% chance that the Fed lowers rates by a quarter percentage point at its Dec. 18 meeting, compared with 62% a day ago, per the CME FedWatch tool.

Those odds could shift after Fed policymakers Austan Goolsbee and Adriana Kugler appear later on Tuesday, which will set the stage for Fed Chair Jerome Powell’s panel discussion on Wednesday.

On the corporate front, Tesla (TSLA) stock slipped in early trading after shipments of the EV maker’s China-built models fell again, putting sales targets in doubt. In addition, CEO Elon Musk’s $56 billion pay deal was rejected again by a judge.

Meanwhile, shares in US Steel (X) fell about 8% on the heels of President-elect Donald Trump’s promise to “block” its $15 billion takeover by Japan’s Nippon Steel (5401.T, NPSCY). Trump said tax incentives and tariffs will enable the American steel giant to thrive on its own.