EU MREL: too complicated by half
The Single Resolution Board is planning to add another level of intricacy to the minimum requirement for own funds and eligible liabilities (MREL), just as it seemed as though they couldn’t get any more complicated.
MREL is actually a pretty simple concept when boiled down to its essential elements.
It represents the idea that creditors should be on the hook for losses if a bank fails, rather than ordinary taxpayers.To get to that point, policymakers have to make sure that financial institutions ...
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