Today, the Single Resolution Board (SRB) publishes its 2024 MREL policy. This new policy takes into account a public consultation held between 14 December 2023 and 13 February 2024. 

The SRB feedback statement also published today, provides further detail on the outcomes of the consultation. Some respondents also opted for their contributions to be published on the SRB website. 

“The 2024 MREL policy introduces several targeted modifications to address stakeholders’ comments and legislative changes. With these changes, the MREL policy is expected to be stable in the coming years, all other things equal.” 

“The public consultation is a good example of the SRB’s new strategy to ensure better transparency and enhance the dialogue with stakeholders” said SRB Chair, Dominique Laboureix. 

The SRB is also publishing its Q4.2023 MREL dashboard presenting the evolution of MREL targets and shortfalls in the quarter as well as the current level and composition of MREL resources. This report shows that all the banks subject to targets with a deadline on 1 January 2024 were well placed to meet them. In addition, it highlights recent developments in the cost of funding and provides an overview of gross issuances of MREL-eligible instruments. 

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