Portuguese banks boosted by stronger economy, NPL sales ahead of MREL build-out
Portuguese banks are preparing to build towards their minimum requirements for own funds and eligible liabilities (MREL), having been lifted by an encouraging year in terms of non-performing loan disposals and by a strong performance in the domestic economy.
The Portuguese banking sector is one of the few in the EU in which there have been very few sales of non-preferred senior bonds for MREL so far.
Fitch estimates that the country's financial institutions will need to issue up to €9bn to fulfill their requirements.But market participants believe ...
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