EU Amends Disclosures and Reporting on MREL and TLAC

Commission Implementing Regulation 2024/1618 amending Implementing Regulation (EU) 2021/763, laying down implementing technical standards on supervisory reporting and public disclosure of MREL and TLAC, has been published in the Official Journal of the European Union. The amending ITS were created in response to changes to the EU Capital Requirements Regulation as well as to clarify requirements in response to the Single Rulebook Q&A process. In particular, the amending ITS adjust the templates and reporting instructions to reflect: (i) the requirement to deduct investments in eligible liabilities instruments of entities belonging to the same resolution group ("daisy chain" framework); (ii) the prior permission regime for buying back eligible liabilities instruments issued by the reporting entities and groups; and (iii) other minor updates to the ITS and the accompanying technical package to address some identified issues. The amending ITS will enter into force on June 27, 2024, and will apply from December 27, 2024.

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