Minimum requirement for own funds and eligible liabilities (MREL) - procedures, forms and templates

Commission Regulation (EU) 2016/1066 laying down the Implementing Technical Standards on procedures, forms and templates for resolution planning (the "ITS") was adopted on 17 June 2016 [1] . The Regulation defines a minimum set of templates and information items to be collected from institutions and entities referred to in points (b), (c) and (d) of Article 1(1) BRRD for the purpose of drawing up and implementing resolution plans. It is binding in all Member States of the European Union. Each resolution authority has the responsibility to determine what information is necessary to draw resolution plans. Based on this assessment, each resolution authority is entitled to decide whether the information covered by the ITS is sufficient to draw the resolution plan, or whether additional information is required. With regard to the format for providing the necessary information for the purpose of resolution planning, Article 2(4) of the ITS states that "[w]here the information required by the resolution authority is included in one of the categories set out in Article 3, the institution shall provide that information to the resolution authority by submitting the appropriate form or template contained in Annexes" to the ITS. Article 2(5) of the ITS states that "[w]here the information required by the resolution authority is not included in one of the categories set out in Article 3 the information shall be provided in the format requested by the resolution authority. " Each resolution authority is free to determine this format. Furthermore, the ITS does not prescribe the technical details for submitting this  information. The resolution authorities determine the technical format of the information and the timeline to be followed by the institutions. This is without prejudice to other types of data collection the authorities might perform for purposes other than resolution planning. This answer is notwithstanding any amendments of Regulation (EU) 2016/1066 which are currently under consultation .   [1] OJ L 181, 6.7.2016, p. 1–38.