König: banks should not wait to build bail-in buffers

Single resolution board head also warned against political back-sliding on bail-in

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Elke König: banks must work out how to meet MREL requirements based on their group structure

The largest European banks should start working now to meet their bail-in buffer requirements, according to the head of the eurozone's bank resolution authority. Single resolution board chair Elke König made this recommendation even though the composition of the buffers, which is determined on a bank-by-bank basis, is still not defined.

"We are always encouraging banks to get started on this work, even if we have not yet clearly communicated where to go, because the direction I think is pretty

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