Recital 1

(1)Directive (EU) 2019/879 of the European Parliament and of the Council ² amended the definition of ‘eligible liabilities’, as then laid down in Article 2(1), point (71), of Directive 2014/59/EU. Pursuant to that new definition, ‘eligible liabilities’ are only those liabilities that are eligible for the minimum requirement for own funds and eligible liabilities (MREL). That amendment should be reflected in Commission Delegated Regulation (EU) 2015/63 ³ , which deals with ex ante contributions to resolution financing arrangements. More in particular, the references in that Delegated Act to the previous definition of ‘eligible liabilities’, which was laid down in Article 2(1), point (71) of Directive 2014/59/EU, should be adjusted to Article 2(1), point (71a), of that Directive, in which the new definition is laid down. Furthermore, the formula for the calculation of the indicator ‘Own funds and eligible liabilities held by the institution in excess of MREL’ in Annex I, STEP I of Delegated Regulation (EU) 2015/63 should also be adjusted to include only liabilities eligible for MREL.