On 1 July 2021 the (Finnish) Financial Stability Authority (FFSA) sent the credit institutions directly within its jurisdiction a letter providing essential information on MREL monitoring reporting to start from 30 June 2021. The institutions for which a bankruptcy strategy has been determined in the resolution plan are not included in the scope of MREL monitoring reporting.
The reporting process is based on the European Banking Authority’s (EBA’s) regulatory and implementing technical standards, and has been made legally binding by virtue of the European Commission Implementing Regulation (EU) 2021/763. Data is collected each quarter in the form of an XBRL report in accordance with the XBRL taxonomies published by the European Banking Authority (EBA). The first reporting deadline for submitting to the FFSA the information as at 30 June 2021 is 30 September 2021.
In addition to the MREL monitoring reports based on Regulation (EU) 2021/763, the FFSA will also collect from institutions within the scope of the reporting process a separate Excel form related to the institution’s forecast for the trend in MREL capacity.
Information on MREL monitoring should only be submitted to the FFSA, which will then forward it on to the Financial Supervisory Authority.
Further information on the subject area is available at tiedonkeruu(at)rvv.fi
