On 17 February 2020, the Single Resolution Board (SRB) issued a public consultation on proposed changes to its policy on the minimum requirement for own funds and eligible liabilities (MREL). The consultation consists of various questions relating to:

  • MREL requirements for global systemically important institutions;
  • changes to the calibration of MREL, including introducing MREL based on the leverage ratio;
  • changes to the quality of MREL;
  • dedicated rules for certain business models, such as cooperatives, and for resolution strategies, such as multiple point of entry; and
  • how the proposed changes will be phased in.

The deadline for comments on the consultation is 6 March 2020.