On 26 May 2021 the Single Resolution Board (SRB) published its updated MREL (Minimum Requirements for Own Funds and Eligible Liabilities) policy. The updated policy incorporates and defines more closely certain new areas under the Banking Package (including the application of profit distribution restrictions).
The new MREL policy will apply during the current Resolution Planning Cycle and will serve as the basis for MREL decisions taken for credit institutions within the direct jurisdiction of the SRB in spring 2022.
The (Finnish) Financial Stability Authority (FFSA) will also comply with the SRB’s updated MREL policy guidelines for the less significant institutions directly within its jurisdiction. The FFSA is at present putting the finishing touches to the national MREL background document based on the SRB’s MREL policy and will announce its completion in June.
Further information:
SRB publishes updated MREL Policy under the Banking Package: Minimum Requirements for Own Funds and Eligible Liabilities (MREL) Policy under the Banking Package.
FFSA Resolution Expert Pekka Kainulainen (pekka.kainulainen(at)rvv.fi)
