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Single Resolution Board publishes Q3.2020 MREL dashboard

Press releases
|
Thursday, 11 February 2021
| Camille DE REDE

The Single Resolution Board (SRB) has today published its minimum requirement for own funds and eligible liabilities (MREL) dashboard covering the reporting period Q3.2020.

Key findings:

  • The average BRRD1 MREL target, in percentage of the total risk exposure amount (TREA), rose by 0.6% from June  to September, to 28.6% TREA; the increase was mostly driven by the growth in total liabilities and own funds (TLOF).
  • After recording an increase in Q2.2020, the average MREL shortfall reduced to 1.9% TREA in Q3.2020, as the increase in MREL eligible resources offset the growth of MREL targets.
  • In Q3.2020, MREL issuances amounted to EUR 50.9 bn, a reduction of 42% (EUR 37.3 bn) in comparison to Q2.2020. Beyond seasonal effects, the availability of central bank funding was among the factors responsible for the pronounced reduction.
  • Cost of debt stabilised in Q3.2020 and approached pre-pandemic levels in January 2021.

Documents

Contact our communications team

Spokesperson & Communications Team Leader
Name
Susan Carroll
Email
Susan.Carroll [a] srb.europa.eu
Phone:
+ 32 2 490 3439
Mobile:
+32 470 96 48 01
Seán De Búrca
Speechwriter & Communications Expert
Name
Seán De Búrca
Email
Sean.de-Burca [a] srb.europa.eu
Phone:
+32 2 490 3710
Mobile:
+32 477 02 87 10
Camille De Rede
Communications Expert
Name
Camille De Rede
Email
Camille.de-Rede [a] srb.europa.eu
Phone:
+32 2 490 3530
Mobile:
+32 477 028 530

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