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September 05, 2017

EBA published the final draft implementing technical standards (ITS) on procedures and templates for the identification and transmission of information by resolution authorities to EBA, on minimum requirements for own funds and eligible liabilities (MREL) under Article 45(17) of Bank Recovery and Resolution Directive (BRRD or Directive 2014/59/EU). This regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

The ITS only cover the reporting of MREL requirements from Resolution Authorities to EBA while reporting by institutions to Resolution or Competent Authorities is outside of the scope of these ITS. The ITS also set out three reporting templates (in a separate Excel document) as Annexes I, II, and III. The ITS provide for simplified reporting for certain categories of institutions for which liquidation, rather than resolution, will be the preferred strategy. In these cases, the MREL will only be made of a loss-absorption amount. 
The Resolution Authorities are required to report, to EBA, the MREL that has been set for each institution in their respective jurisdiction according to common procedures and using common templates. Under the common templates, resolution will report the overall amount of MREL required from an institution, as well as each of the components of the MREL decision as laid down in the regulatory technical standard on MREL. Where the Resolution Authorities depart, in compliance with the regulatory technical standards on MREL, from a default component of the MREL methodology (for example, to take into account liabilities that are reasonably likely to be fully or partially excluded from bail-in), they are required to provide an explanation on the adjustments made. These standards will enable EBA to monitor the consistency of MREL implementation across the EU. 

 

Related Links

ITS on MREL Reporting by Resolution Authorities (PDF)

Reporting Templates (XLSX)

Regulatory Technical Standard on MREL

BRRD (PDF)

Keywords: Europe, EU, Banking, MREL, BRRD, Resolution, Reporting, EBA

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