Table 2 illustrates the major changes to the MREL framework, including the new minimum requirement (Pillar 1) for G-SIIs in the EU. In line with the proposal to amend the CRD-IV (new Article 104(b), Article 45e applies the concept of ‘guidance’ in the BRRD. It allows resolution authorities ‘to require institutions to meet higher levels of MREL while addressing in a more flexible manner any breaches of those levels, in particular by alleviating the automatic effects of such breaches in the form of limitations to the Maximum Distributable Amounts (MDAs)
Proposed changes to the MREL framework
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