On Tuesday 14 May, the Single Resolution Board (SRB), the European authority responsible for resolving major bank failures in the euro area, unveiled its new policy on ‘MREL’ assets that can be mobilised in the event of a bank failure.
Among the changes made, the SRB highlighted a revised approach to monitoring the eligibility of MREL assets and to the Market Confidence Charge calibration, in line with the Daisy Chains directive (2024/1174) (see EUROPE B13309A28).
“With these...