Today, the Single Resolution Board (SRB) publishes its 2024 MREL policy. This new policy takes into account a public consultation held between 14 December 2023 and 13 February 2024.
Among the changes, the 2024 MREL policy introduces a revised approach on internal and external Market Confidence Charge calibration and on the monitoring of MREL eligibility. It also reflects the legislative changes on the MREL framework related to entities in a “daisy chain” and to liquidation entities introduced by Directive 2024/1174.
The SRB feedback statement also published today, provides further detail on the outcomes of the consultation. Some respondents also opted for their contributions to be published on the SRB website.
“The 2024 MREL policy introduces several targeted modifications to address stakeholders’ comments and legislative changes. With these changes, the MREL policy is expected to be stable in the coming years, all other things equal.”
“The public consultation is a good example of the SRB’s new strategy to ensure better transparency and enhance the dialogue with stakeholders” said SRB Chair, Dominique Laboureix.
The SRB is also publishing its Q4.2023 MREL dashboard presenting the evolution of MREL targets and shortfalls in the quarter as well as the current level and composition of MREL resources. This report shows that all the banks subject to targets with a deadline on 1 January 2024 were well placed to meet them. In addition, it highlights recent developments in the cost of funding and provides an overview of gross issuances of MREL-eligible instruments.
Contact our communications team
Recent news
The SRB Appeal Panel today announces changes in its composition. The mandates of Christopher Pleister, Chair of the Appeal Panel of the Single...
The guidance, published after extensive public consultation, provides details on an updated valuation data framework.
Banks are expected to have a high...
The Single Resolution Board takes note of the Court of Justice’s dismissal of the appeal brought by ABLV in case C-602/22 P, concerning the SRB’s...
Related news and press releases
The SRB publishes today its MREL dashboard for Q1.2024, which shows that MREL targets have been met.
The MREL dashboard presents the evolution of MREL...
- Multi-Annual Plan sets out priorities and activities over the next five years, based on the SRM Vision 2028 strategy.
- The SRM will increase its focus...
- The consultation gathers views from industry and other stakeholders to inform the adoption of the minimum bail-in data template.
- The consultation is...