Co-op faces ‘material uncertainty’ over MREL

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Co-op faces ‘material uncertainty’ over MREL

Tyler Davies
July 30, 2020 01:00 PM
Co-op_bank_PA_575x375_300720
The Co-operative Bank sign in Islington, London. The board of the Co-operative Bank has hoisted a for sale sign over the troubled lender as concerns mount over its capital position. | Kirsty O'Connor/PA

The Co-operative Bank has said that its future could be in ‘significant doubt’ if it fails to make headway on plans to raise £550m ($719.46m) for its minimum requirements for own funds and eligible liabilities (MREL) by 2022. The UK lender is hoping to get going in the second half of this year.

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