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Public consultation on the SRB's MREL Policy under the Banking Package

Start: | Deadline: | Status: Closed

20 May 2020: SRB MREL Policy under the Banking Package; feedback statement

Start date: 17 February 2020 | Deadline: 6 March - 12:00 (Brussels time) | Status: Closed |

The Single Resolution Board (SRB) has now closed its public consultation on a number of substantial changes to its policy on the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). These changes bring the policy into line with the amendments introduced by the 2019 EU “Banking Package” to relevant EU regulations and directives.

This paper describes the proposals, provides the rationale and highlights several specific questions to which the SRB seeks responses. The SRB is eager to receive responses and suggestions from a full range of stakeholders. In line with our intention to consult the industry on key documents, the SRB invited feedback until 6 March 2020 – 12:00 (Brussels time).

The proposals cover the implementation of provisions related to, among others:

  • MREL requirements for Global Systemically Important institutions (G SIIs);
  • Changes to the calibration of MREL, including introducing MREL based on the leverage ratio;
  • Changes to the quality of MREL;
  • Dedicated rules for certain business models, such as cooperatives, and for resolution strategies, such as multiple point of entry (MPE);
  • How these changes will be phased in.

MREL decisions implementing the new framework will be taken based on this policy in the 2020 resolution planning cycle by Q1 2021.

This public consultation is part of the SRB’s commitment to listening to the views of industry and other stakeholders and being transparent about its approaches and decisions.

Personal data and privacy statement

The SRB is committed to user privacy. When carrying out public consultations we adhere to the policy on 'protection of individuals with regard to the processing of personal data by the Union institutions, bodies, offices and agencies', based on Regulation (EU) 2018/1725 on processing of personal data by the EU institutions. Full statement.

Contact: HELLO [a] (HELLO[at]srb[dot]europa[dot]eu)