On October 24, 2016, the EBA published for consultation draft ITS on the reporting requirements of the minimum requirements for own funds and eligible liabilities. The ITS set out the procedures and templates for the identification and transmission of information by resolution authorities to the EBA on the MREL that has been set for each firm. The BRRD requires national resolution authorities to set individual levels of MREL for each firm. MREL is the EU equivalent of US Total Loss-Absorbing Capacity. The consultation closes on November 21, 2016.
The consultation paper is available at: http://www.eba.europa.eu/documents/10180/1633474/Consultation+Paper+on+ITS+on+MREL+%28EBA-CP-2016-15%29.pdf .
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