Going local: Brexit prompts rethink on MREL governing law

One EU regulator has already asked banks to avoid reliance on English law for bail-in

Bailing in the debt of a failed bank is a contentious process that needs to pass muster if challenged in an insolvency court. Legal certainty on the treatment of debt eligible for bail-in is therefore paramount.

But nothing about Brexit is certain. That includes the question of whether English courts will continue to recognise European bail-in decisions. As a result, European banks have been left with a headache as they consider how to handle the preponderance of English-law bonds in their bail

To continue reading...

You need to sign in to use this feature. If you don’t have a Risk.net account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here: