Cypriot banks are on track to meeting their MREL targets, set by the Single Resolution Board (SRB) even well before their deadline, SRB chair Dominique Laboureix has told the Cyprus News Agency (CNA).
MREL, the Minimum Requirement for own funds and Eligible Liabilities, is a tool that increases the bank’s loss absorption capacity and its resolvability in a time of crisis. Apart from the own capital, banks need to issue instruments