European bank MREL likely to be above 8 percent

November 2, 2015 1:45 PM

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FRANKFURT Nov 2 European banks' minimum requirement for own funds and eligible liabilities (MREL) is likely to be set at above 8 percent, Elke Koenig, the chair of the Single Resolution Board, Europe's newest bank regulatory agency, said on Monday.

"Probably MREL for the banks under our remit will most likely be no less than 8 percent of total assets," Koenig told a conference. "It is very unlikely that a lower MREL requirement will be set for any of the important banks in the union."

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