Eurozone banks bet on 2024 MREL deadline to ease Brexit pain

SRB says legacy English law bonds ineligible, but BRRD grandfathering could solve problem

2024 deadline

Bankers are hoping that grandfathering rules, which they expect to be adopted as part of an updated bank resolution regime in Europe, will also alleviate the problem of English law bonds no longer being deemed eligible for bail-in by the eurozone’s Single Resolution Board.

In a position paper published on November 15, the SRB confirmed that after Brexit, eurozone banks should be prepared for legacy bonds issued under English law to be discounted from their minimum requirement for own funds and

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@risk.net or view our subscription options here: http://subscriptions.risk.net/subscribe

You are currently unable to copy this content. Please contact info@risk.net to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Risk.net? View our subscription options

Register

Want to know what’s included in our free membership? Click here

This address will be used to create your account

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