In accordance with the adopted resolution framework, the Fund is required to determine, and entities to maintain, the MREL requirement, the purpose of which is to ensure loss absorption and recapitalization capacity.
On 15th September 2021, the Act of 8 July 2021 amending the Act on the Bank Guarantee Fund, the deposit guarantee scheme and forced restructuring and some other acts (Journal of Laws, item 1598) entered into force. As a result, changes to the BRR directive being part of the so-called Banking Package were implemented.
The above-mentioned legal acts introduced changes of the rules regarding the calculation and the maintenance of MREL requirement. This, in turn, resulted in the need to modify the previous approach of the Fund to the MREL requirement’s determination. This modification had already been signaled to banks.
Below, we provide a link to the document specifying the MREL methodology used by the Fund after the entry into force of the amendment to the Act on BFG implementing the Banking Package. The methodology is consistent with the project that was presented to the entities at an earlier stage.
