Brexit leaves €126bn of MREL in limbo

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Brexit leaves €126bn of MREL in limbo

Tyler Davies
October 19, 2017 07:00 PM
Brexit_Davis_Barnier_PA_230x150
(171012) -- BRUSSELS, Oct. 12, 2017 (Xinhua) -- Britain's Brexit Secretary David Davis (L) and European Union (EU) chief negotiator Michel Barnier attend a press conference at the end of the fifth round of Negotiation on Brexit talks at the EU Commission in Brussels, Belgium, Oct. 12, 2017. The Brexit talks are currently in a "disturbing deadlock," but no deal between the EU and Britain would be a bad deal, Michel Barnier told reporters Thursday. (Xinhua/Ye Pingfan) (zjy) | Ye Pingfan/Xinhua News Agency/PA Images

The European Banking Authority (EBA) has warned banks in Europe that any debt they issue under English law may cease to count towards the minimum requirement for own funds and eligible liabilities (MREL) as soon as the UK leaves the European Union.

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