MREL targets met, shows Q3.2024 dashboard

The SRB publishes today its MREL dashboard for Q3.2024, which shows that banks continue to meet their MREL targets. 

The MREL dashboard tracks the evolution of these targets and shortfalls for resolution (external MREL) and non-resolution (internal MREL) entities, as well as the level and composition of MREL resources of resolution entities in the quarter. In addition, it highlights recent developments in the cost of funding and provides an overview of gross issuances of MREL-eligible instruments.

For resolution entities, the average MREL final target, including the Combined Buffer Requirement (CBR), was equal to 28% of the Total Risk Exposure Amount (TREA), remaining stable compared to the previous quarter.

In aggregate terms, the total MREL shortfall (including the CBR) against final targets of resolution entities decreased from EUR 3.7 bn to EUR 0.5 bn (the latter corresponding to 0.01% TREA). All entities which had to comply with their final MREL targets as of 1 January 2024 continue to meet their requirements. The MREL shortfall is attributed to four banks with transitional periods to meet their final targets going beyond 1 January 2024.

Banks under the SRB’s remit overall issued EUR 64 bn of MREL-eligible instruments during the quarter under review.

MREL Dashboard Q3.2024

PDF | 1.94 MB | Publishing date: 20/02/2025

The minimum requirement for own funds and eligible liabilities (MREL) dashboards are based on bank data reported to the Single Resolution Board (SRB) and cover entities under the SRB’s remit1. The first section of the dashboard focuses on the evolution of MREL targets and shortfalls for resolution entities (external MREL) and non-resolution entities (internal MREL) as well as the level and the composition of MREL resources of resolution entities in Q3.2024. The second section highlights recent developments in the cost of funding and provides an overview of the gross issuances of MREL-eligible instruments in Q3.20242.