UK will diverge from EU MREL rules after Brexit

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By Tyler Davies
25 Jun 2020

The UK government showed this week that it plans to differ from the EU in its approach to banking regulation after Brexit. Divergence will begin with the minimum requirements for own funds and eligible liabilities (MREL), but a new consultation opens the way for further changes.

The UK will take on any EU legislation that needs to be transposed into national law before 2021, when the Brexit transition period ends.

But chancellor Rishi Sunak said in a speech on Tuesday that there were some areas of regulation in which the government could “tailor” ...

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