BoE revision may ease MREL load for UK challenger banks
Monzo, Starling, Metro posed to benefit from long-awaited asset threshold hike
UK challenger banks Starling, Monzo and Metro could win temporary relief from minimum requirements for own funds and eligible liabilities (MREL), after the Bank of England revised the criteria it uses to identify which banks must hold additional buffers for resolution.
The three banks are currently subject to MREL requirements, including buffers, equal to 19.7%, 22.4% and 22.9% of their respective
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