The SRB's approach to the changes to its MREL policy related to the Daisy Chain Act is outlined in this communication.
This Act allows resolution authorities more flexibility in setting internal minimum requirements for own funds and eligible liabilities (MREL) in banking groups, in order to ensure sufficient loss-absorbing capacity. It also simplifies MREL treatment for liquidation entities and related prior permissions.
In particular, the amendments to Article 12d SRMR introduced by Article 2, points (1) and (2) of the Daisy Chain Act shall apply from 14 November 2024.
Amendments to Regulation (EU) 806/2014 and Directive (EU) 2014/59/EU as regards certain aspects of MREL: Directive (EU) 2024/1174
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