EBA · 2019_4862 Rejected question

Reference to provisions governing the access to extraordinary financing in MREL calibration

Regulation
Directive 2014/59/EU (BRRD)
Article
45c, para. 3
Topic
MREL
Submitted by
Resolution authority
Submitted
2019-08-09
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Question

Is the reference to the provisions governing the access to extraordinary financing (37(10), 44(5) and 44(8) BRRD) a mandatory component of MREL calibration for resolution and non-resolution entities?

Background

For both resolution entities and non-resolution entities, Art. 45c(3) and 45d(3) BRRD states that resolution authorities shall take into account the requirements referred to in Articles 37(10), 44(5) and 44(8) BRRD. The nature of this provision should be clarified, to determine whether it is a mandatory component of the computation, or if it can be disregarded where relevant. The question is also valid for the relevant SRMR provisions.
No answer published yet.

Original source: European Banking Authority, Q&A ID 2019_4862

This Q&A is published by European Banking Authority and is non-binding. It does not constitute legal advice. Updated weekly from official ESA sources.

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