The EBA Publishes Draft Amendments To The Framework For Reporting Of MREL Decisions By Resolution Authorities To The EBA

The European Banking Authority (EBA) published today its final draft Implementing Technical Standards (ITS) amending the framework for reporting of decisions on the Minimum Requirement for Own Funds and Eligible Liabilities (MREL) by resolution authorities to the EBA.

The amendments to Commission Implementing Regulation (EU) 2021/622 introduce a semi-annual reporting cycle, replacing the current annual submission. They also enhance the reporting of discretionary elements applied by resolution authorities when setting MREL and streamline certain data fields to reduce the reporting burden for resolution authorities. In addition, targeted changes have been introduced to reflect recent updates to the legal framework, including those stemming from Directive (EU) 2024/1174 (the “Daisy Chain Directive”).

Legal basis and background

These final draft ITS have been developed in accordance with Article 45j(2) of Directive 2014/59/EU (the Bank Recovery and Resolution Directive – BRRD), which mandates the EBA to specify uniform reporting templates, instructions and methodology on how to use those templates, frequency and dates of reporting, definitions and IT solutions for the reporting of MREL decisions. The amendments also support the EBA’s mandate under Article 45l of the BRRD to assess convergence of practices in the setting of MREL across Member States.