Compared with the regulatory targets set for January 2024, the overall shortfall in MREL assets of the major European banks that could be mobilised in the event of a bank resolution continued to fall during the first quarter of 2023, but at a “much slower” pace than in the fourth quarter of 2022, the Single Resolution Board (SRB), the European agency responsible for resolving the major failing European banks, noted at the beginning of August.
This overall deficit now stands at around...