Debt-issuance spree helps Lloyds hurdle MREL target
Total funds and eligible liabilities rose to £66.8 billion at the end of last year, up 23% from 2017
Lloyds bulked up its bail-in buffers in 2018, issuing loss-absorbing debt and raising capital enough to far exceed its regulator-set minimum requirements for eligible liabilities.
The UK lender’s ratio of MREL to risk-weighted assets stood at 32.4% at year-end, up from 25.7% the year prior, and well above its target requirements, excluding regulatory buffers, of 20.7% for 2020 and 25.4% for 2022
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