SRM Regulation II definition

SRM Regulation II means Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 806/2014 as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms.

SRM Regulation II means Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 806/2014 as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms. The public deed of issuance (escritura de emisión) related to the 2026 Fixed Rate Notes represented hereby was executed on March 24, 2021 before Mr. Xxxxxx Xxxx-Gallardón Xxxxxx de la Rasilla with the number 1433 of his records.

SRM Regulation II means Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 806/2014 as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms. The exercise of the Bail-in Power by the Relevant Resolution Authority with respect to the 2031 Fixed Rate Notes shall not constitute an event of default and the terms and conditions of the 2031 Fixed Rate Notes shall continue to apply in relation to the residual principal amount of, or outstanding amount payable with respect to, the 2031 Fixed Rate Notes subject to any modification of the amount of distributions payable to reflect the reduction of the principal amount, and any further modification of the terms that the Relevant Resolution Authority may decide in accordance with applicable laws and regulations relating to the resolution of credit institutions, investment firms and/or Company entities incorporated in the relevant member state. No repayment or payment of Amounts Due, if any, on the 2031 Fixed Rate Notes, will become due and payable or be paid after the exercise of any Bail-in Power by the Relevant Resolution Authority if and to the extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise. By its acquisition of this Note, each Holder of this Note, (which, for the purposes of this clause, includes each Holder of a beneficial interest in this Note), to the extent permitted by the Trust Indenture Act, will waive any and all claims, in law and/or in equity, against the Trustee for, agree not to initiate a suit against the Trustee in respect of, and agree that the Trustee will not be liable for, any action that the Trustee takes, or abstains from taking, in either case in accordance with the exercise of the Bail-in Power by the Relevant Resolution Authority with respect to this Note. Additionally, by its acquisition of this Note, each Holder of this Note acknowledges and agrees that, upon the exercise of the Bail-in Power by the Relevant Resolution Authority:

Examples of SRM Regulation II in a sentence

• Under BRRD II and SRM Regulation II, MREL requirements will become stricter, in particular with regard to the eligibility of debt instruments for MREL purposes and with regard to possible subordination requirements.On 20 February 2020, Commerzbank was informed of a new formal MREL requirement from the SRB and an implementing decision by BaFin.

• Under BRRD II and SRM Regulation II, MREL requirements will become stricter, in particular with regard to the eligibility of debt instruments for MREL purposes and with regard to possible subordination requirements.On 24 May 2022, Commerzbank was informed of a new formal MREL requirement from the SRB and an implementing decision by BaFin.

• Under BRRD II and SRM Regulation II, MREL requirements will become stricter, in particular withregard to the eligibility of debt instruments for MREL purposes and with regard to possible subordination requirements.On 20 February 2020, Commerzbank was informed of a new formal MREL requirement from the Single Resolution Board ("SRB") and an implementing decision by BaFin.

• Although CRR II and SRM Regulation II are directly applicable in each EU Member State, they provide for important interpretational issues to be further specified through binding technical standards and/or delegated legal acts and through guidelines and leave certain other matters to the discretion of the competent authority.

• Under BRRD II and Regulation (EU) 2019/877 (SRM Regulation II), a number of changes will be introduced to align MREL with the FSB’s standard relating to total loss-absorb- ing capacity (TLAC).

• EU Banking Reforms means the CRD IV Directive, BRRD II, CRR II and the SRM Regulation II.

• In addition, an amendment to the MREL framework under the SRM Regulation II includes certain supervisory powers conferred to the Single Resolution Board which, when into force, would allow the Single Resolution Board to, for example, prohibit payments on Additional Tier 1 Instruments.

• Subject to the requirements under the SRM Regulation II, the SRB may impose upon the Issuer a prohibition under which it would be prohibited to distribute more than the 'maximum distributable amount related to the minimum requirement for own funds and eligible liabilities' ("M-MDA") pursuant to the MREL framework of the SRM Regulation II.

• On the one hand, there is the blocking of the WTO since the 2000s, especially after the Ministerial Summit in Cancun in 2003, and the continuous demands for reform of the institution.

• Subject to the requirements under the SRM Regulation II, the Single Resolution Board may impose upon the Issuer a prohibition under which it would be prohibited to distribute more than the 'maximum distributable amount related to the minimum requirement for own funds and eligible liabilities' ('M-MDA') pursuant to the MREL framework of the SRM Regulation II.

More Definitions of SRM Regulation II

SRM Regulation II means Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 806/2014 as regards the loss-absorbing and recapitalisation capacity of credit institutions and investment firms, as amended or replaced from time to time;

SRM Regulation II means Regulation (EU) 2019/877 of the European Parliament and of the Council of 20 May 2019 amending Regulation (EU) No 806/2014 as regards the loss-absorbing and recapitalization capacity of credit institutions and investment firms. No repayment or payment of Amounts Due, if any, on this Dollar Note, shall be or become due and payable or be paid after the exercise of any Bail-in Power by the Relevant Resolution Authority if and to the extent such amounts have been reduced, converted, cancelled, amended or altered as a result of such exercise. For the avoidance of doubt, the potential write-down or cancellation of all or a portion of the Liquidation Preference of—or Distributions on—this Dollar Note or the conversion of this Dollar Note into Common Equity Tier 1 instruments, other security or other obligations in connection with the exercise of any Bail-in Power by the Relevant Resolution Authority is separate and distinct from a conversion following a Trigger Event although these events may occur consecutively. Neither a reduction or cancellation, in part or in full of the Amounts Due on, the conversion thereof into another security or obligation of the Company or another person, as a result of the exercise of the Bail-in Power by the Relevant Resolution Authority with respect to the Company, nor the exercise of the Bail-in Power by the Relevant Resolution Authority with respect to the Dollar Notes will be an Enforcement Event. By its acquisition of this Dollar Note, each Holder of this Dollar Note (which, for these purposes, include each Holder of a beneficial interest in this Dollar Note), to the extent permitted by the Trust Indenture Act of 1939, as amended (“Trust Indenture Act”), will waive any and all claims, in law and/or in equity, against the Trustee for, agree not to initiate a suit against the Trustee in respect of, and agree that the Trustee will not be liable for, any action that the Trustee takes, or abstains from taking, in either case in accordance with the exercise of the Bail-in Power by the Relevant Resolution Authority with respect to this Dollar Note. Additionally, by its acquisition of this Dollar Note, each Holder of this Dollar Note acknowledges and agrees that, upon the exercise of the Bail-in Power by the Relevant Resolution Authority: