SRB will not force banks to make linear progression towards MREL. China sets TLAC rules. Half of Canada Big Banks are TLAC compliant.
Single Resolution Board (SRB) publishes its final ‘Minimum Requirements for Own Funds and Eligible Liabilities (MREL) Policy under the Banking Package’, along with an overview of the SRB responses to the industry consultation. The consultation took place between 17 February and 6 March 2020.