Newsalert Finance and Regulated Entities Department | The Single Resolution Board publishes its new MREL Policy 2020
On May 20, 2020, the Single Resolution Board (SRB) has adapted its policy on Minimum Requirements for Own Funds and Eligible Liabilities (MREL) to the new EU banking regulatory framework, as amended by the Banking Package (the "MREL Policy 2020").
The SRB will take MREL decisions based on this policy in the 2020 resolution planning cycle. The decisions will be communicated to banks in early 2021 and will replace those issued under the previous legal framework. Each new decision will set out two binding MREL targets: a binding intermediate target to be met by 1 January 2022 and the final target to be met by 1 January 2024.
The Alert describes the changes introduced by the MREL Policy 2020.