15/02/2019 (Agence Europe) – Without debate, the Member States' ambassadors to the EU (Coreper) approved, on Friday 15 February, the interinstitutional agreement on four legislative texts aimed at reducing financial risks in the banking system (see EUROPE 12152). Future prudential rules incorporate the international TLAC standard into EU law and modify the rules on the hierarchy of creditors mobilised in the event of bank failure. The major banking groups will thus have to hold more MREL equity capital that can be mobilised in the event of an internal ‘bail-in’. Non-systemic banks will benefit from reduced reporting and publication requirements. This agreement had facilitated the one on the reform of the European Stability Mechanism, the permanent rescue fund for the euro area, and the creation of a backstop for the Single Resolution Fund (see EUROPE 12160). To see the approved texts: http://bit.ly/2Ie5wyA (MB)