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 13309/28).
“With these changes, the MREL policy is expected to be stable in the coming years, all other things equal”, said the Chair of SRB, Dominique Laboureix, in a statement.
For further information, see: https://aeur.eu/f/c77
On Tuesday, the SRB also published its dashboard on compliance levels of the major banks covered by its remit, along with the targets set for holdings of instruments eligible as ‘MREL’ assets. This dashboard showed that all the banks subject to targets with a deadline of 1 January 2024 were well placed to meet them. (Original version in French by Mathieu Bion)