On 23 July 2020, the European Banking Authority (EBA) issued a public consultation on draft Implementing Technical Standards (ITS) specifying uniform reporting templates, instructions and methodology for the identification and transmission, by Member State resolution authorities to the EBA, of information on minimum requirements for own funds and eligible liabilities (MREL).
The BRRD has been amended by Directive 2019/879/EU, to include provisions detailing new requirements on MREL subordination levels and the MREL applicable to resolution entities and entities that are not themselves resolution entities.
The draft ITS being consulted on will replace the previous ITS on MREL reporting in order to reflect the changes made to the BRRD. The draft ITS specify uniform formats, templates and definitions that must be used by Member State resolution authorities when transmitting the information regarding MREL requirements to the EBA.
The draft ITS only concern the reporting of MREL requirements from Member State resolution authorities to the EBA. Reporting by institutions to resolution or Member State competent authorities is outside the scope of this reporting framework.
The deadline for comments on the consultation is 24 October 2020.