The Bank of England has published its revised policy on the minimum requirement for own funds and eligible liabilities (“MREL”), making significant changes to the UK’s bank resolution framework.
Our summary in the attached briefing sets out the most important developments (including around preferred resolution strategies and quantum of required MREL for transfer firms), practical implications, and forthcoming implementation timeline. It also includes a summary of three accompanying PRA publications relevant to the resolution regime.
For further information, please contact:
Carson Welsh, Partner, Linklaters
carson.welsh@linklaters.com
