The SRB welcomes the adoption of the Daisy Chains Act by the European Parliament on 27 February. This will allow resolution authorities more scope in setting internal minimum requirements for own funds and eligible liabilities (MREL) in banking groups, in order to ensure sufficient loss-absorbing capacity. It also simplifies MREL treatment for liquidation entities. The SRB will implement the new rules in its MREL policy.
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Today, the SRB publishes a communication on the changes to its MREL policy to be implemented in line with the Daisy Chains Act, which was adopted...