On 16 April 2026, the Bank of England (BoE) published its approach to external minimum requirements for own funds and eligible liabilities (MRELs).
The publication contains the 2026 external MRELs for all firms with a resolution entity incorporated in the UK for which an MREL above minimum capital requirements (MCR) has been communicated. Individual external MRELs are based on balance sheet data as at 31 December 2025 and MCRs as at 27 March 2026.
The BoE sets out its approach to MREL disclosure, including supporting assumptions and firm-specific information for bail-in and transfer preferred resolution strategy firms. Firm specific MRELs are set out in Table A. The BoE has publicly disclosed external MRELs on an annual basis for several years and the MREL framework is now well established. From 2027, firms that have been directed to meet MREL above MCR will be required under the Disclosure (CRR) Part of the Prudential Regulation Authority Rulebook to make new or expanded disclosures relating to MREL. In light of these developments, the BoE intends to stop disclosing individual firm external MRELs from 2027.