UK to ditch MREL MDA after Brexit

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By Tyler Davies
19 Oct 2020

The UK government has said that banks will still be able to make investor distributions if they fall below their minimum requirements for own funds and eligible liabilities (MREL) after Brexit — in an early of sign of divergence from the EU rulebook.

HM Treasury explained its approach in response to a consultation on the transposition of the Bank Recovery and Resolution Directive (BRRD II), published last week. 

Chancellor Rishi Sunak had already said the UK would not apply all of the measures contained in the directive, which sets ...

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