MREL definition

MREL means the “minimum requirement for own funds and eligible liabilities” for credit institutions under the BRRD, set in accordance with Article 45 of the BRRD (as transposed in the Kingdom of Spain), Commission Delegated Regulation (EU) 2016/1450 of 23 May 2016, supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to regulatory technical standards specifying the criteria relating to the methodology for setting the minimum requirement for own funds and eligible liabilities and any other Applicable Banking Regulations.
MREL means the minimum requirement for own funds and eligible liabilities as defined in Article 45(1) of Directive 2014/59/EU;

Examples of MREL in a sentence

  • Fine-tuning of the current legal provisions within the BRRD will however be necessary to make sure that the TLAC requirement and the minimum requirement on own funds and eligible liabilities (MREL) are fully coherent and consistent with each other.Some of the proposed CRD amendments affecting proportionality would leave Member States with a certain degree of flexibility to maintain different rules at the stage of their transposition into national law.


More Definitions of MREL

MREL means the “minimum requirement for own funds and eligible liabilities” for banking institutions under the Directive 2014/59/EU of the European Parliament and of the Council,establishing an EU-wide framework for the recovery and resolution of credit institutions and investment firms, as set in accordance with Article 45 of such Directive (as transposed in article 459 of the Belgian Banking Law) and Commission Delegated Regulation (C(2016) 2976 final) of 23 May 2016, or any successor requirement.
MREL means the "minimum requirement for own funds and eligible liabilities" for credit institutions under the BRRD, set in accordance with Article 45 of the BRRD (as transposed in Portugal), Commission Delegated Regulation (EU) 2016/1450 of 23 May 2016, supplementing the BRRD, or any successor requirement under EU legislation and relevant implementing legislation and regulation in Portugal;
MREL means the minimum requirement for own funds and eligible liabilities implemented by the BRRD (and consequently the Finnish Act on the Resolution of Credit Institutions and Investment Firms (in Finnish: Laki luottolaitosten ja sijoituspalveluyritysten kriisinratkaisusta, 1194/2014), as amended) and the SRM Regulation;
MREL means minimum requirement for own funds and eligible liabilitiesMTF” means multilateral trading facility as defined under the MiFID II “ODRG” refers to OTC Derivatives Regulators Group
MREL means the minimum requirements for own funds and eligible liabilities from time to time pursuant to the Applicable MREL Regulation.] Negative Pledge The Terms and Conditions of the Notes do not contain a negative pledge provision. Events of Default [In the case of Unsubordinated Notes (which are not Covered Bonds) and Senior Non-Preferred Notes, insert: The Terms and Conditions of the Notes provide for events of default entitling Noteholders to demand immediate redemption of the Notes.] [In the case of Covered Bonds insert: The Terms and Conditions of the Notes provide for events of default entitling Noteholders to demand immediateredemption of the Notes.] [In the case of Subordinated Notes insert: The Terms and Conditions of the Notes will not provide for any event of default entitling Noteholders to demand immediate redemption.] Cross Default The Terms and Conditions of the Notes do not provide for a cross-default provision. Ranking of the Notes (Status) [In the case of Unsubordinated Notes, which are not Covered Bonds or Senior Non-Preferred Notes, insert: The obligations under the Notes constitute unsecured and unsubordinated obligations of the Issuer ranking pari passu among themselves and pari passu with all other unsecured and unsubordinated obligations of the Issuer except for any obligations preferred by law.] [In the case of Senior Non-Preferred Notes insert: The obligations under the Notes constitute direct, unconditional, unsecured and unsubordinated obligations of the Issuer, provided that they are non-preferred senior obligations of the Issuer under debt instruments which meet the criteria pursuant to § 131 (3) nos. 1–3 BaSAG. Therefore, in the event of the insolvency or the liquidation of the Issuer, claims on the principal amount of the Notes rank: (i) junior to all other present or future unsecured and unsubordinated instruments or obligations of the Issuer which do not meet the criteria pursuant to § 131 (3) nos. 1–3 BaSAG;(ii) pari passu: (A) among themselves; and (B) with all other present or future non-preferred senior instruments or obligations of the Issuer which meet the criteria pursuant to § 131 (3) nos. 1–3 BaSAG (other than senior instruments or obligations of the Issuer ranking or expressed to rank senior or junior to the Notes); and (iii) senior to all present or future claims under: (A) ordinary shares and other common equity tier 1 instruments pursuant to Article 28 CRR of the Issuer; (B) additional tier 1 instruments pursua...