The Single Resolution Board (SRB), together with the Banking Union national resolution authorities (NRAs) publishes its 2017 policy statement on the minimum requirement for own funds and eligible liabilities (MREL), which serves as a basis for setting consolidated MREL targets for banks under the remit of the SRB.

MREL represents one of the key tools in enhancing banks’ resolvability. For the 2017 resolution planning cycle, the SRB is moving from informative targets – communicated in the 2016 MREL policy -  to bank-specific binding consolidated MREL targets for the majority of the largest and most complex banks under the SRB remit, including all global systemically important institutions (G- SIIs) and banks with resolution colleges. The 2017 SRB MREL policy is part of a multi-year approach for establishing final MREL targets.