The Marketing of MREL securities after BRRD Articles uri icon

publication date

  • December 2017

start page

  • 1

end page

  • 85


  • 15

International Standard Serial Number (ISSN)

  • 2281-5228

Electronic International Standard Serial Number (EISSN)

  • 2281-5236


  • The interplay between the objectives of financial stability and consumer protection underpinning the bank resolution framework is a very complex one, hence the need of an adequate calibration of safeguards. A flexible approach in phasing-in MREL requirements is, therefore,necessary. If MREL must be institution-specific (Article 4 of the Delegated Regulation), there ishardly any other field of prudential regulation where individual calibrations are more warranted, and the use of general principles of proportionality, subsidiarity and diversity more necessary.


  • brrd; mrel; securities; transparency; prudential requirements