SRB Consultation Paper on changes to its MREL policy under the 2019 Banking Package
GBIC has answered the Single Resolution Board's (SRB) consultation on changes to its MREL policy. The changes bring the MREL policy of the SRB in line with the major amendments introduced by the 2019 EU-Banking Package. The consultation of the MREL policy creates transparency and is therefore welcome. With regard to some points, however, there is still need for clarification. In addition overwriting CRR provisions and thus tightening requirements as part of MREL policy is inappropriate.