PART I: GENERAL INSTRUCTIONS
1. This Annex covers the instructions for reporting in accordance with Article 45j of Directive 2014/59/EU on the minimum requirement for own funds and eligible liabilities (MREL) set by the resolution authorities.
2. Each resolution authority, in coordination with competent authorities, shall inform the EBA of the MREL set for each institution under its jurisdiction. With regard to resolution groups, the group-level resolution authority shall transmit the relevant information for the Union parent undertaking on a consolidated basis. Each resolution authority shall transmit the information regarding the MREL set in relation to resolution groups and subsidiaries.
3. For groups established or having subsidiaries within the banking union, the Single Resolution Board will report on decisions taken in relation to all entities falling under its jurisdiction as defined in Article 7(2) of Regulation (EU) No 806/2014 of the European Parliament and of the Council (1).
4. Where an institution has been exempted from MREL, this shall be indicated in column 0090, and the resolution authority can opt for simplified reporting with only reporting the information in columns 0010 to 0100.
5. Resolution authorities shall report the MREL decisions for liquidation entities set in accordance with the second subparagraph of Article 45c(2a) of Directive 2014/59/EU.
1. Scope of the notification
6. Institutions (including investment firms), as defined in Article 2(1), point (23), of Directive 2014/59/EU), and entities as referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU that are subject to Article 45(1) of that Directive, except mortgage credit institutions financed by covered bonds that are exempted from the MREL in accordance with Article 45a of Directive 2014/59/EU.
7. Resolution authorities shall transmit the full set of MREL decisions applicable at each reference date for all institutions, regardless of the decision date.
2. Scope of consolidation
8. The underlying data shall be reported on an individual basis for each entity within each Member State, or at the level of any of the following:
the Union parent undertaking on a consolidated basis, where the perimeter of consolidation for the Union parent undertaking is identical to the perimeter of consolidation of the resolution group;
where different from point (a), for each resolution entity at resolution group consolidated level in accordance with Article 45e of Directive 2014/59/EU;
where applicable, for a parent undertaking on a consolidated basis in accordance with Article 45f(4) point (b), of Directive 2014/59/EU or the third subparagraph of Article 45f(1) of that Directive;
where applicable, for a subsidiary on a consolidated basis in accordance with the fourth subparagraph of Article 45f(1) of Directive 2014/59/EU.
PART II: TEMPLATE-RELATED INSTRUCTIONS
3. M 20.00 – Reporting on MREL decisions
3.1 Instructions concerning specific columns
Column | Legal references and instructions |
0010 | ENTITY CODE Code of the entity for which the MREL decision has been made. For institutions, the code shall be the 20-digit, alphanumerical legal entity identifier (LEI) code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code. The code shall be consistent with the code reported for the same institution under Commission Implementing Regulation (EU) 2018/1624 (1). The code shall always have a value. That code shall be the unique identifier for each column for the relevant entity. |
0020 | TYPE OF CODE The reporting authority shall identify the type of code reported in column 0010 as an ‘LEI code’ or ‘Non-LEI code’. The type of code shall always be reported. |
0030 | RESOLUTION ENTITY CODE Code of the resolution entity to which the entity belongs. This code shall be the same as in the column 0010 if the decision reported is a group decision. For institutions, the code shall be the 20-digit, alphanumerical LEI code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code. The code shall be consistent with the code reported for the same institution under Implementing Regulation (EU) 2018/1624. |
0040 | TYPE OF CODE The reporting authority shall identify the type of code reported in column 0030 as an ‘LEI code’ or ‘Non-LEI code’. The type of code shall always be reported. |
0050 | CONSOLIDATION PERIMETER Reporting authorities shall report on the MREL at one of the following perimeters of consolidation: (a) resolution group; (b) consolidated at the level of the parent undertaking in accordance with Article 45f(4), point (b), or the third subparagraph of Article 45f(1) of Directive 2014/59/EU; (c) consolidated at the level of the subsidiary in accordance with the fourth subparagraph of Article 45f(1) of Directive 2014/59/EU; (d) individual |
0060 | TYPE OF INSTITUTION Reporting authorities shall report one of the following: (a) global systemically important institution (G-SII) as defined in Article 4(1), point (133), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (2); (b) resolution entity as referred to in Article 45c(5) of Directive 2014/59/EU that is part of a resolution group the total assets of which exceed EUR 100 billion at resolution group level; (c) resolution entity as referred to in Article 45c(6) of Directive 2014/59/EU that is part of a resolution group the total assets of which are lower than EUR 100 billion and which the resolution authority has assessed as reasonably likely to pose a systemic risk in the event of its failure; (d) other credit institution; (e) investment firm; (f) any other entity referred to in Article 1(1), points (b), (c) or (d), of Directive 2014/59/EU. |
0070 | INTERNAL OR EXTERNAL Reporting authorities shall report one of the following: (a) internal: MREL applied to entities that are not themselves resolution entities pursuant to Article 45f of Directive 2014/59/EU or resolution entities as referred to in the fifth subparagraph of Article 45f(1) of that Directive that are not subject to Article 45e(3) of that Directive. (b) external: MREL applied to entities that are resolution entities pursuant to Article 45e of Directive 2014/59/EU. |
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0090 | WAIVER Reporting authorities shall indicate whether the waiver was granted on the basis of the following provisions of Directive 2014/59/EU or whether no waiver was granted: (a) Article 45f(3); (b) Article 45f(4); (c) Article 45g; (d) No waiver. |
0100 | REASON FOR WAIVER Where an option other than ‘No’ has been reported in column 0090, reporting authorities shall describe the reason for applying the waiver. |
0110–0150 | RESOLUTION STRATEGY AND TOOLS |
0110 | RESOLUTION STRATEGY Reporting authorities shall report one of the following: (a) single point of entry; (b) multiple point of entry; (c) liquidation. |
0120 | MAIN RESOLUTION TOOL (PREFERRED STRATEGY) Reporting authorities shall report one of the following: (a) open bank bail-in; (b) bridge institution; (c) asset separation; (d) sale of business; (e) N/A. Where column 0110 was reported as ‘liquidation’, column 0120 shall be reported as N/A. |
00130 | SECOND RESOLUTION TOOL (PREFERRED STRATEGY) Reporting authorities shall report one of the following: (a) open bank bail-in; (b) bridge institution; (c) asset separation; (d) sale of business; (e) N/A. Where column 0110 was reported as ‘liquidation’ or where no alternative strategy has been set, this column shall be reported as N/A. |
0140 | MAIN RESOLUTION TOOL (VARIANT STRATEGY) Reporting authorities shall report one of the following (where applicable): (a) open bank bail-in; (b) bridge institution; (c) asset separation; (d) sale of business; (e) N/A. Where column 0110 was reported as ‘liquidation’, this column shall be reported as N/A. |
0150 | SECOND RESOLUTION TOOL (VARIANT STRATEGY) Reporting authorities shall report one of the following: (a) open bank bail-in; (b) bridge institution; (c) asset separation; (d) sale of business; (e) N/A. Where column 0110 was reported as ‘liquidation’, or where no alternative strategy has been set, this column shall be reported as N/A. |
0170–0190 | ADDITIONAL OWN FUNDS REQUIREMENT AND COMBINED BUFFER REQUIREMENT AS A PERCENTAGE OF TOTAL RISK EXPOSURE AMOUNT (TREA) The information on the additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU of the European Parliament and of the Council (3) used as an input for calibrating MREL shall be based on the latest available own funds requirements communicated by the competent authority at the time of the calibration of MREL. These amounts shall be expressed as a percentage of TREA. |
0170 | ADDITIONAL OWN FUNDS REQUIREMENT Additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU used to calibrate MREL or as estimated in accordance with regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU. |
0180 | COMBINED BUFFER REQUIREMENT USED FOR THE CALIBRATION Combined buffer requirement referred to in Article 128(1), point (6), of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements or as estimated in accordance with the regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU. |
0190 | OF WHICH: COUNTERCYCLICAL CAPITAL BUFFER Article 128, point (2), Article 130 and Articles 135 to 140 of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements used to calibrate MREL. |
0200–0230 | BALANCE SHEET DATA USED TO CALIBRATE MREL |
0200 | REFERENCE DATE Reference date of the data reported in columns 0210 to 0230. |
0210–0230 | BEFORE RESOLUTION Balance sheet data used to calibrate MREL before resolution. |
0210 | TREA Total risk exposure amount in accordance with Article 45(2), point (a), of Directive 2014/59/EU and Article 92(3) of Regulation (EU) No 575/2013. |
0220 | TOTAL LIABILITIES AND OWN FUNDS (TLOF) Sum of all liabilities and own funds of the reporting entity. With respect to derivatives, the value to be used shall be the sum of net liability positions, taking into account prudential netting rules. This item corresponds to the information reported in row 0600 of template Z 02.00 of Annex I to Implementing Regulation (EU) 2018/1624. |
0230 | TOTAL EXPOSURE MEASURE (TEM) Total exposure measure in accordance with Article 45(2), point (b) of Directive 2014/59/EU, Article 429(4) and Article 429a of Regulation (EU) No 575/2013. |
0270–0380 | MREL DECISION |
0270 | DECISION DATE Date when the resolution authority decided on the MREL or adopted a waiver decision. |
0280 | COMPLIANCE DATE Date from when the institution shall comply with the MREL or waiver decision. |
0290 | REQUIREMENT AS A PERCENTAGE OF TREA Reporting authorities shall report MREL expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013. |
0300 | OF WHICH: MAY BE MET WITH GUARANTEES The part of the requirement reported in column 0290 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013. |
0310 | REQUIREMENT AS A PERCENTAGE OF TEM The entity’s MREL expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013. |
0320 | OF WHICH: MAY BE MET WITH GUARANTEES The part of the requirement reported in column 0310 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013. |
0330–0340 | TOTAL SUBORDINATION AS A PERCENTAGE OF TREA Reporting authorities shall report the subordination requirement levels expressed as a percentage of TREA (100% for internal MREL). |
0350–0360 | TOTAL SUBORDINATION AS A PERCENTAGE OF TEM Reporting authorities shall report the subordination requirement levels expressed as a percentage of TEM (100% for internal MREL). |
0330, 0350 | MANDATORY SUBORDINATION REQUIREMENT Reporting authorities shall report the subordination requirement levels in accordance with Article 45c, paragraphs (5) and (6), and Article 45d(2), point (a), of Directive 2014/59/EU, including any impact from the application of Article 45b(4) of Directive 2014/59/EU. |
0340, 0360 | DISCRETIONARY SUBORDINATION REQUIREMENT Reporting authorities shall report the subordination requirement levels in accordance with Articles 45b, paragraphs (5) or (7) of Directive 2014/59/EU. |
0370 | SENIOR DEBT ALLOWANCE For G-SIIs, reporting authorities shall report the share of liabilities allowed to qualify as eligible liabilities instruments up to an aggregate amount that does not exceed 3,5 % of the TREA calculated in accordance with Article 92, paragraphs (3) and (4) of Regulation (EU) No 575/2013. |
0380 | DE MINIMIS ALLOWANCE For GSIIs, reporting authorities shall report the share of excluded liabilities referred to in Article 72a(2) of Regulation (EU) No 575/2013 which are allowed to rank in insolvency pari passu or below eligible liabilities of the institution in accordance with Article 72b(4) of Regulation (EU) No 575/2013, expressed as a percentage of the amount of the own funds and eligible liabilities of the institution. |
0381 | REDUCED TLOF REQUIREMENT Discretion available under Article 45b(4), first subparagraph, of Directive 2014/59/EU expressed as a percentage of TLOF. |
0390–0480 | ADJUSTMENTS |
0390–0400 | ADJUSTMENTS FOR CALIBRATING THE LOSS-ABSORPTION AMOUNT AS PERCENTAGES OF TREA AND TEM Adjustments to the loss absorbing amount pursuant to the second subparagraph of Article 45c(2a) of Directive 2014/59/EU expressed as a percentage of TREA and TEM. |
0410–0460 | ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TREA Adjustments to the recapitalisation amount pursuant to Article 45c(3), first subparagraph, point (a)(ii), or Article 45c(7), first subparagraph, point (a)(ii), of Directive 2014/59/EU expressed as a percentage of TREA. |
0410–0420 | ADJUSTEMENTS TO ADDITIONAL OWN FUNDS REQUIREMENT Input any adjustment to additional own funds requirement referred to in Article 104a of Directive 2013/36/EU pursuant to, Article 45c(3), fifth subparagraph, point (b), or Article 45c(7), fifth subparagraph, point (b), of Directive 2014/59/EU. |
0430–0440 | ADJUSTMENTS RELATED TO MARKET CONFIDENCE BUFFER Adjustments pursuant to Article 45c(3), sixth subparagraph, or Article 45c(7), sixth subparagraph, of Directive 2014/59/EU. |
0450–0460 | ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION Adjustments pursuant to Article 45c(3), fifth subparagraph, point (а), or 45c(7), fifth subparagraph, point (a), of Directive 2014/59/EU. |
0470–0480 | ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TEM Adjustments to the recapitalisation amount resulting from changes in the balance sheet post resolution pursuant to of Article 45c(3), first subparagraph, point (b)(ii), or of Article 45c(7), first subparagraph, point (b)(ii), of Directive 2014/59/EU expressed as a percentage of the total exposure amount. |
0410, 0430, 0450, 0470 | UPWARDS |
0420, 0440, 0460, 0480 | DOWNWARDS |
0490–0540 | TRANSITION PERIOD Reporting authorities shall indicate any intermediary target they may have set for the years after the reporting date. The target shall be expressed both as a percentage of TREA and as a percentage of TEM. |
0490, 0520 | MREL LEVEL Reporting authorities shall indicate the total MREL level institutions shall meet at the intermediary date. |
0500, 0530 | SUBORDINATION Reporting authorities shall indicate the total subordinated level institutions shall meet at the intermediary date. |
0510, 0540 | DATE OF APPLICATION Reporting authorities shall indicate the transition dates of the path to MREL compliance. |
(1) Commission Implementing Regulation (EU) 2018/1624 of 23 October 2018 laying down implementing technical standards with regard to procedures and standard forms and templates for the provision of information for the purposes of resolution plans for credit institutions and investment firms pursuant to Directive 2014/59/EU of the European Parliament and of the Council, and repealing Commission Implementing Regulation (EU) 2016/1066 (OJ L 277, 7.11.2018, p. 1, ELI: http://data.europa.eu/eli/reg_impl/2018/1624/oj). (2) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1, ELI: http://data.europa.eu/eli/reg/2013/575/oj). (3) Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013 on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006/48/EC and 2006/49/EC (OJ L 176, 27.6.2013, p. 338, ELI: http://data.europa.eu/eli/dir/2013/36/oj). | |