EU bail-in debt sales plummeted 47% in H2 2020

Effects of pandemic continue as MREL-compliant liabilities drop, SRB figures show

Sales of bail-in debt by European Union banks dropped 47% in the second half of 2020, as the pandemic’s effects lingered on, despite warmer market reception for issuers.

Liabilities issued in the bloc to comply with minimum requirements for eligible liabilities (MREL) totalled €95.3 billion ($116.1 billion) – down from €179.9 billion at end-June 2020 and €116.8 billion at end-December 2019, the latest data from the Banking Union’s Single Resolution Board shows.

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