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Commission Implementing Regulation (EU) 2021/622 of 15 April 2021 laying down implementing technical standards for the application of Directive 2014/59/EU of the European Parliament and of the Council with regard to uniform reporting templates, instructions and methodology for reporting on the minimum requirement for own funds and eligible liabilities (Text with EEA relevance)

In forceVersion 2021-04-15from 2021-05-06
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Contents
  1. Preamble
    1. Article 1 Information to be transmitted to the EBA
    2. Article 2 Simplified reporting requirement for institutions subject to waivers and for institutions for which the recapitalisation amount is zero
    3. Article 3 Reporting authority and information to be reported for groups
    4. Article 4 Reporting periods and submission dates
    5. Article 5 Data exchange formats and information accompanying submissions
    6. Article 6 Repeal
    7. Article 7 Entry into force
  3. ANNEX
  4. ANNEX I
  5. ANNEX II INSTRUCTIONS FOR COMPLETING REPORTING ON MREL DECISIONS
  6. PART I 1.2.3.4.5. GENERAL INSTRUCTIONS
  7. 2.7.
  8. PART II TEMPLATE-RELATED INSTRUCTIONS
  9. 4.
  10. 4.1.
  11. ANNEX III Single Data Point Model and Validation Rules
  12. PART ONE Single Data Point Model
  13. PART TWO Validation Rules

THE EUROPEAN COMMISSION

Having regard to the Treaty on the Functioning of the European Union,

Having regard to Directive 2014/59/EU of the European Parliament and of the Council of 15 May 2014 establishing a framework for the recovery and resolution of credit institutions and investment firms and amending Council Directive 82/891/EEC, and Directives 2001/24/EC, 2002/47/EC, 2004/25/EC, 2005/56/EC, 2007/36/EC, 2011/35/EU, 2012/30/EU and 2013/36/EU, and Regulations (EU) No 1093/2010 and (EU) No 648/2012, of the European Parliament and of the Council, and in particular Article 45j(2), third subparagraph, thereof,

Whereas:

(1) Resolution authorities have been given the task of setting minimum requirements for own funds and eligible liabilities (MREL) in accordance with the requirements and procedures laid down in Articles 45 to 45i of Directive 2014/59/EU. To assist the European Banking Authority (EBA) in promoting convergence across the Union for the setting of MREL, resolution authorities are required under Article 45j of that Directive to inform the EBA, in coordination with competent authorities, of the MREL they have set.

(2) Commission Implementing Regulation (EU) 2018/308 specifies formats and templates for the transmission by resolution authorities to the EBA of the information regarding their decisions setting the MREL. Since the adoption of that Implementing Regulation, the requirements related to the loss-absorbing and recapitalisation capacity and, in particular, the features of and methodologies for setting the MREL of credit institutions and investment firms laid down in Directive 2014/59/EU have been amended and further specified by Directive (EU) 2019/879 of the European Parliament and of the Council.

(3) In order to facilitate the EBA’s monitoring of MREL decisions and to ensure a meaningful assessment of convergence across the Union for the setting of MREL, the formats and templates specified for the identification and transmission of information on MREL by resolution authorities to the EBA should be adapted to reflect the amendments to Directive 2014/59/EU, relating in particular to MREL subordination levels and the MREL applied to entities that are not themselves resolution entities.

(4) With respect to groups that are subject to MREL on a consolidated basis, it is necessary to clarify which resolution authority should transmit the information on MREL to the EBA. Therefore, resolution authorities responsible for groups’ subsidiaries, in coordination with competent authorities, should inform the EBA of the MREL that has been set for each institution under their jurisdiction. That information should include the MREL set on the basis of a joint decision reached between the resolution authority of the resolution entity, the group-level resolution authority, where different from the former, and the resolution authority responsible for the subsidiary on an individual basis. In the absence of a joint decision, that information should also include decisions setting the MREL taken by the resolution authority of the subsidiary in accordance, where applicable, with the decision that may be taken by the EBA in accordance with Article 19 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council.

(5) In order to promote convergence of practices regarding MREL decisions and strengthen the monitoring role of the EBA, the reporting periods and submission dates for the transmission of information under full and simplified reporting by the resolution authorities to the EBA should be aligned.

(6) To enhance data quality and ensure comparability, the data items set out in the reporting templates should comply with the single data point model, as is the practice in supervisory reporting. The single data point model should consist of a structural representation of the data items, identify all relevant business concepts for uniform reporting on MREL decisions and contain all the relevant specifications necessary for further development of uniform IT reporting solutions. For the same reason, the data exchange format should be set out in the EBA’s reporting system (EUCLID).

(7) To ensure the quality, consistency and accuracy of data items reported, the data items should be subject to common validation rules.

(8) Given the extent of the necessary amendments to Implementing Regulation (EU) 2018/308, it is appropriate, for reasons of clarity, transparency and legal certainty, to repeal that Implementing Regulation and to replace it by a new Implementing Regulation.

(9) This Regulation is based on the draft implementing technical standards submitted to the Commission by the EBA.

(10) The EBA has conducted open public consultations on the draft implementing technical standards on which this Regulation is based, analysed the potential related costs and benefits, and requested the advice of the Banking Stakeholder Group established in accordance with Article 37 of Regulation (EU) No 1093/2010,

HAS ADOPTED THIS REGULATION:

Article 1 Information to be transmitted to the EBA

Resolution authorities, in coordination with competent authorities, shall transmit to the EBA the information specified in the templates set out in Annexes I and II to this Regulation relating to the setting of MREL in accordance with Articles 45 to 45h and Article 45m of Directive 2014/59/EU.

Article 2 Simplified reporting requirement for institutions subject to waivers and for institutions for which the recapitalisation amount is zero

1. For institutions for which the application of the MREL has been waived pursuant to Article 45f(3), Article 45f(4) or Article 45g of Directive 2014/59/EU, resolution authorities shall only transmit to the EBA the information specified in columns 0010 to 0100 and 0270 of Annex I to this Regulation.

2. For institutions for which the recapitalisation amount set in accordance with Article 45c(2) of Directive 2014/59/EU is zero, and where no adjustments to the loss absorption amount in accordance with that paragraph are made, resolution authorities shall only transmit to the EBA the information specified in columns 0010 to 0080 and 0270 of Annex I to this Regulation.

Article 3 Reporting authority and information to be reported for groups

For groups that are subject to MREL on a consolidated basis in accordance with Article 45e, Article 45f(1), third subparagraph, and Article 45f(4), point (b), of Directive 2014/59/EU, the information referred to in Articles 1 and 2 shall be submitted by the following authorities and in the following manner:

(a) the group-level resolution authority, in coordination with the group level supervisory authority, shall inform the EBA of the MREL of the Union parent undertaking set on a consolidated basis;

(b) the resolution authorities taking the decisions setting the MREL, in coordination with the competent authority, shall inform the EBA of the MREL to be applied to the group subsidiaries under their jurisdiction at the resolution group consolidated level and on an individual basis as applicable.

Article 4 Reporting periods and submission dates

Resolution authorities shall, by 31 May of each year, transmit the information referred to in Articles 1 and 2 for the MREL applicable as of 1 May of that year.

Article 5 Data exchange formats and information accompanying submissions

1. Resolution authorities shall submit the information referred to in Articles 1 and 2 in the data exchange format and in accordance with the technical specifications and representations of the EBA’s reporting system (EUCLID).

2. When submitting the information referred to in Articles 1 and 2, resolution authorities shall respect the data point definitions of the data point model and the validation rules laid down in Annex III as well as the following specifications:

(a) information that is not required or not applicable shall not be included in a data submission;

(b) numerical values shall be submitted as follows:

(i) data points of the data type Monetary shall be reported using a minimum precision equivalent to thousands of units;

(ii) data points of the data type Percentage shall be expressed as per unit with a minimum precision equivalent to four decimal places;

(iii) data points of the data type Integer shall be reported using no decimal places and a precision equivalent to units;

(c) institutions, insurance undertakings and legal entities shall be identified by their Legal Entity Identifier (LEI), where available.

Article 6 Repeal

Implementing Regulation (EU) 2018/308 is hereby repealed.

Article 7 Entry into force

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.

This Regulation shall be binding in its entirety and directly applicable in all Member States. Done at Brussels, 15 April 2021. For the Commission The President Ursula von der Leyen

ANNEX

ANNEX I

M 20.00 - Reporting of MREL decisions INSTITUTION ENTITY CODE TYPE OF CODE RESOLUTION ENTITY CODE TYPE OF CODE CONSOLIDATION PERIMETER TYPE OF INSTITUTION INTERNAL OR EXTERNAL MREL SIMPLIFIED REPORTING WAIVER REASON FOR WAIVER RESOLUTION STRATEGY AND TOOLS RESOLUTION STRATEGY MAIN RESOLUTION TOOL (PREFERRED STRATEGY ) SECOND RESOLUTION TOOL (PREFERRED STRATEGY ) MAIN RESOLUTION TOOL (VARIANT STRATEGY) SECOND RESOLUTION TOOL (VARIANT STRATEGY) 0010 0020 0030 0040 0050 0060 0070 0080 0090 0100 0110 0120 0130 0140 0150 INSTITUTION BALANCE SHEET DATA USED TO CALIBRATE MREL ADDITIONAL OWN FUNDS REQUIREMENT AND COMBINED BUFFER REQUIREMENT REFERENCE DATE BEFORE RESOLUTON AFTER RESOLUTON REFERENCE DATE ADDITIONAL OWN FUNDS REQUIREMENT AS % OF TREA COMBINED BUFFER REQUIREMENT OF WHICH: COUNTERCYCLICAL CAPITAL BUFFER TREA TLOF TEM TREA TLOF TEM 0160 0170 0180 0190 0200 0210 0220 0230 0240 0250 0260 MREL DECISION DECISION DATE COMPLIANCE DATE REQUIREMENT AS % OF TREA OF WHICH: MAY BE MET WITH GUARANTEES REQUIREMENT AS % OF TEM OF WHICH: MAY BE MET WITH GUARANTEES TOTAL SUBORDINATION AS % OF TREA TOTAL SUBORDINATION AS % OF TEM SENIOR DEBT ALLOWANCE DE MINIMIS ALLOWANCE MANDATORY SUBORDINATION REQUIREMENT DISCRETIONARY SUBORDINATION REQUIREMENT MANDATORY SUBORDINATION REQUIREMENT DISCRETIONARY SUBORDINATION REQUIREMENT 0270 0280 0290 0300 0310 0320 0330 0340 0350 0360 0370 0380 ADJUSTMENTS TRANSITION PERIOD ADJUSTMENTS FOR CALIBRATING THE LOSS ABSORBING AMOUNT ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS % OF TREA ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS % OF TEM INTERMEDIATE TARGET ADJUSTMENTS TO ADDITIONAL OWN FUNDS REQUIREMENT ADJUSTMENTS TO MARKET CONFIDENCE BUFFER ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION AS A % OF TREA AS A % OF TEM AS % OF TREA AS % OF TEM UPWARD DOWNWARD UPWARD DOWNWARD UPWARD DOWNWARD UPWARD DOWNWARD MREL LEVEL SUBORDINATION DATE OF APPLICATION MREL LEVEL SUBORDINATION DATE OF APPLICATION 0390 0400 0410 0420 0430 0440 0450 0460 0470 0480 0490 0500 0510 0520 0530 0540

ANNEX II INSTRUCTIONS FOR COMPLETING REPORTING ON MREL DECISIONS

PART I 1.2.3.4.5. GENERAL INSTRUCTIONS

This Annex covers the instructions for reporting in accordance with Article 45j of Directive 2014/59/EU on the minimum requirement for own funds and eligible liabilities (MREL) set by the resolution authorities. Each resolution authority, in coordination with competent authorities, shall inform the EBA of the MREL set for each institution under its jurisdiction. With regard to resolution groups, the group-level resolution authority shall transmit the relevant information for the Union parent undertaking on a consolidated basis. Each resolution authority shall transmit the information regarding the MREL set in relation to resolution groups and subsidiaries. For groups established or having subsidiaries within the banking union, the Single Resolution Board will report on decisions taken in relation to all entities falling under its jurisdiction as defined in Article 7(2) of Regulation (EU) No 806/2014 of the European Parliament and of the Council. Where the underlying data are in a currency other than euro, the authorities shall use European Central Bank euro foreign exchange reference rates (https://www.ecb.europa.eu/stats/policy_and_exchange_rates/euro_reference_exchange_rates/html/index.en.html) as at the date of the MREL decision and report all amounts in euro. Where an institution has been exempted from MREL, this shall be indicated in column 0090, and the resolution authority can opt for simplified reporting with only reporting the information in columns 0010 to 0100. Where an institution is subject to a zero recapitalisation amount and no adjustment is made to the loss-absorption amount, the resolution authority can opt for simplified reporting and report only the information in columns 0010 to 0080.

1.6. Scope of the notification Institutions (including investment firms, as defined in Article 2(1), point (23), of Directive 2014/59/EU) and entities referred to in Article 1(1), points (b), (c) and (d), of Directive 2014/59/EU that are subject to Article 45(1) of that Directive, except mortgage credit institutions financed by covered bonds that are exempted from the MREL in accordance with Article 45a of Directive 2014/59/EU.

2.7. Scope of consolidation The underlying data shall be reported on an individual basis for each entity within each Member State, or at the level of any of the following:

2.7.

(a) the Union parent undertaking on a consolidated basis, where the perimeter of consolidation for the Union parent undertaking is identical to the perimeter of consolidation of the resolution group;

(b) where different from point (a), for each resolution entity at resolution group consolidated level in accordance with Article 45e of Directive 2014/59/EU;

(c) where applicable, for a parent undertaking on a consolidated basis in accordance with Article 45f(4) point (b), of Directive 2014/59/EU or the third subparagraph of Article 45f(1) of that Directive.

3.8. Deadline for submission Resolution authorities shall transmit the information for the MREL applicable at 1 May of each year by 31 May of that year.

PART II TEMPLATE-RELATED INSTRUCTIONS

4. M 20.00 – Reporting on MREL decisions

4.

4.1. Instructions concerning specific columns Column Legal references and instructions 0010 ENTITY CODE Code of the entity for which the MREL decision has been made. For institutions, the code shall be the 20-digit, alphanumerical legal entity identifier (LEI) code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code. The code shall be consistent with the code reported for the same institution under Commission Implementing Regulation (EU) 2018/1624. The code shall always have a value. That code shall be the unique identifier for each column for the relevant entity. 0020 TYPE OF CODE The reporting authority shall identify the type of code reported in column 0010 as an LEI code or Non-LEI code. The type of code shall always be reported. 0030 RESOLUTION ENTITY CODE Code of the resolution entity to which the entity belongs. This code shall be the same as in the column 0010 if the decision reported is a group decision. For institutions, the code shall be the 20-digit, alphanumerical LEI code. For other entities, the code shall be the 20-digit, alphanumerical LEI code, or where not available a code under a uniform codification applicable in the Union, or where not available a national code. The code shall be consistent with the code reported for the same institution under Implementing Regulation (EU) 2018/1624. 0040 TYPE OF CODE The reporting authority shall identify the type of code reported in column 0030 as an LEI code or Non-LEI code. The type of code shall always be reported. 0050 CONSOLIDATION PERIMETER Reporting authorities shall report on the MREL at one of the following perimeters of consolidation: 0060 TYPE OF INSTITUTION Reporting authorities shall report one of the following: 0070 INTERNAL OR EXTERNAL Reporting authorities shall report one of the following: 0080 SIMPLIFIED REPORTING Reporting authorities shall indicate whether simplified reporting for institutions for which the recapitalisation amount is zero and where no adjustment to the loss-absorbing amount has been made is applied: 0090 WAIVER Reporting authorities shall indicate whether the waiver was granted on the basis of the following provisions of Directive 2014/59/EU or whether no waiver was granted: 0100 REASON FOR WAIVER Where an option other than No has been reported in column 0090, reporting authorities shall describe the reason for applying the waiver. 0110–0150 RESOLUTION STRATEGY AND TOOLS 0110 RESOLUTION STRATEGY Reporting authorities shall report one of the following: 0120 MAIN RESOLUTION TOOL (PREFERRED STRATEGY) Reporting authorities shall report one of the following: Where column 0110 was reported as liquidation, column 0120 shall be reported as N/A. 00130 SECOND RESOLUTION TOOL (PREFERRED STRATEGY) Reporting authorities shall report one of the following: Where column 0110 was reported as liquidation or where no alternative strategy has been set, this column shall be reported as N/A. 0140 MAIN RESOLUTION TOOL (VARIANT STRATEGY) Reporting authorities shall report one of the following (where applicable): Where column 0110 was reported as liquidation, this column shall be reported as N/A. 0150 SECOND RESOLUTION TOOL (VARIANT STRATEGY) Reporting authorities shall report one of the following: Where column 0110 was reported as liquidation, or where no alternative strategy has been set, this column shall be reported as N/A. 0160–0190 ADDITIONAL OWN FUNDS REQUIREMENT AND COMBINED BUFFER REQUIREMENT The information on the additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU of the European Parliament and of the Council used as an input for calibrating MREL shall be based on the latest available own funds requirements communicated by the competent authority at the time of the calibration of MREL. 0160 REFERENCE DATE The date when the competent authority communicated the additional own funds requirements and combined buffer requirement to the institution. 0170 REQUIREMENT AS A PERCENTAGE OF TOTAL RISK EXPOSURE AMOUNT (TREA) Additional own funds requirement pursuant to Article 104a of Directive 2013/36/EU used to calibrate MREL or as estimated in accordance with regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU. 0180 COMBINED BUFFER REQUIREMENT Combined buffer requirement referred to in Article 128(1), point (6), of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements or as estimated in accordance with the regulatory technical standards adopted under Article 45c(4) of Directive 2014/59/EU. 0190 OF WHICH: COUNTERCYCLICAL CAPITAL BUFFER Article 128, point (2), Article 130 and Articles 135 to 140 of Directive 2013/36/EU. The amount reported shall represent the amount of own funds needed to fulfil the respective capital buffer requirements used to calibrate MREL. 0200–0260 BALANCE SHEET DATA USED TO CALIBRATE MREL 0200 REFERENCE DATE Reference date of the data reported in columns 0210 to 0260. 0210–0230 BEFORE RESOLUTION Balance sheet data used to calibrate MREL before resolution. 0240–0260 AFTER RESOLUTION Balance sheet data used to calibrate MREL after resolution. 0210, 0240 TREA Total risk exposure amount in accordance with Article 45(2), point (a), of Directive 2014/59/EU and Article 92(3) of Regulation (EU) No 575/2013. 0220, 0250 TOTAL LIABILITIES AND OWN FUNDS (TLOF) Sum of all liabilities and own funds of the reporting entity. With respect to derivatives, the value to be used shall be the sum of net liability positions, taking into account prudential netting rules. This item corresponds to the information reported in row 0600 of template Z 02.00 of Annex I to Implementing Regulation (EU) 2018/1624. 0230, 0260 TOTAL EXPOSURE MEASURE (TEM) Total exposure measure in accordance with Article 45(2), point (b) of Directive 2014/59/EU, Article 429(4) and Article 429a of Regulation (EU) No 575/2013. 0270–0380 MREL DECISION 0270 DECISION DATE Date when the resolution authority decided on the MREL or adopted a waiver decision. 0280 COMPLIANCE DATE Date from when the institution shall comply with the MREL or waiver decision. 0290 REQUIREMENT AS A PERECENTAGE OF TREA Reporting authorities shall report MREL expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013. 0300 OF WHICH: MAY BE MET WITH GUARANTEES The part of the requirement reported in column 0290 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TREA calculated in accordance with Article 92(3) of Regulation (EU) No 575/2013. 0310 REQUIREMENT AS A PERCENTAGE OF TEM The entity’s MREL expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013. 0320 OF WHICH: MAY BE MET WITH GUARANTEES The part of the requirement reported in column 0310 that upon permission of the relevant resolution authority may be met with a guarantee provided by the resolution entity in accordance with Article 45f(5) of Directive 2014/59/EU, expressed as a percentage of TEM calculated in accordance with Article 429(4) and Article 429a of Regulation (EU) No 575/2013. 0330–0340 TOTAL SUBORDINATION AS A PERCENTAGE OF TREA Reporting authorities shall report the subordination requirement levels expressed as a percentage of TREA (100 % for internal MREL). 0350–0360 TOTAL SUBORDINATION AS A PERCENTAGE OF TEM Reporting authorities shall report the subordination requirement levels expressed as a percentage of TEM (100 % for internal MREL). 0330, 0350 MANDATORY SUBORDINATION REQUIREMENT Reporting authorities shall report the subordination requirement levels in accordance with Article 45c, paragraphs (5) and (6), and Article 45d(2), point (a), of Directive 2014/59/EU, including any impact from the application of Article 45b(4) of Directive 2014/59/EU. 0340, 0360 DISCRETIONARY SUBORDINATION REQUIREMENT Reporting authorities shall report the subordination requirement levels in accordance with Articles 45b, paragraphs (5) or (7) of Directive 2014/59/EU. 0370 SENIOR DEBT ALLOWANCE For G-SIIs, reporting authorities shall report the share of liabilities allowed to qualify as eligible liabilities instruments up to an aggregate amount that does not exceed 3,5 % of the TREA calculated in accordance with Article 92, paragraphs (3) and (4) of Regulation (EU) No 575/2013. 0380 DE MINIMIS ALLOWANCE For GSIIs, reporting authorities shall report the share of excluded liabilities referred to in Article 72a(2) of Regulation (EU) No 575/2013 which are allowed to rank in insolvency pari passu or below eligible liabilities of the institution in accordance with Article 72b(4) of Regulation (EU) No 575/2013. 0390–0480 ADJUSTMENTS 0390–0400 ADJUSTMENTS FOR CALIBRATING THE LOSS-ABSORPTION AMOUNT AS PERCENTAGES OF TREA AND TEM Adjustments to the loss absorbing amount pursuant to the second subparagraph of Article 45c(2) of Directive 2014/59/EU expressed as a percentage of TREA and TEM. 0410–0460 ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TREA Adjustments to the recapitalisation amount pursuant to Article 45c(3), first subparagraph, point (a)(ii) or Article 45c(7), first subparagraph, point (a)(ii), of Directive 2014/59/EU expressed as a percentage of TREA. 0410–0420 ADJUSTEMENTS TO ADDITIONAL OWN FUNDS REQUIREMENT Input any adjustment to additional own funds requirement referred to in Article 104a of Directive 2013/36/EU pursuant to, Article 45c(3), fifth subparagraph, point (b), or Article 45c(7), fifth subparagraph, point (b), of Directive 2014/59/EU. 0430–0440 ADJUSTMENTS RELATED TO MARKET CONFIDENCE BUFFER Adjustments pursuant to Article 45c(3), sixth subparagraph, or Article 45c(7), sixth subparagraph, of Directive 2014/59/EU. 0450–0460 ADJUSTMENTS RESULTING FROM CHANGE IN THE BALANCE SHEET POST RESOLUTION Adjustments pursuant to Article 45c(3), fifth subparagraph, point (а), or 45c(7), fifth subparagraph, point (a), of Directive 2014/59/EU. 0470–0480 ADJUSTMENTS FOR CALIBRATING THE RECAPITALISATION AMOUNT AS A PERCENTAGE OF TEM Adjustments to the recapitalisation amount resulting from changes in the balance sheet post resolution pursuant to of Article 45c(3), first subparagraph, point (b)(ii), or of Article 45c(7), first subparagraph, point (b)(ii), of Directive 2014/59/EU expressed as a percentage of the total exposure amount. 0410, 0430, 0450, 0470 UPWARDS 0420, 0440, 0460, 0480 DOWNWARDS 0490–0540 TRANSITION PERIOD Reporting authorities shall indicate any intermediary target they may have set for the years after the reporting date. The target shall be expressed both as a percentage of TREA and as a percentage of TEM. 0490, 0520 MREL LEVEL Reporting authorities shall indicate the total MREL level institutions shall meet at the intermediary date. 0500, 0530 SUBORDINATION Reporting authorities shall indicate the total subordinated level institutions shall meet at the intermediary date. 0510, 0540 DATE OF APPLICATION Reporting authorities shall indicate the transition dates of the path to MREL compliance.

4.1.

(a) resolution group;

(b) consolidated at the level of the parent undertaking in accordance with Article 45f(4), point (b), or the third subparagraph of Article 45f(1) of Directive 2014/59/EU;

(c) individual.

(a) global systemically important institution (G-SII) as defined in Article 4(1), point (133), of Regulation (EU) No 575/2013 of the European Parliament and of the Council;

(b) resolution entity as referred to in Article 45c(5) of Directive 2014/59/EU that is part of a resolution group the total assets of which exceed EUR 100 billion at resolution group level;

(c) resolution entity as referred to in Article 45c(6) of Directive 2014/59/EU that is part of a resolution group the total assets of which are lower than EUR 100 billion and which the resolution authority has assessed as reasonably likely to pose a systemic risk in the event of its failure;

(d) other credit institution;

(e) investment firm;

(f) any other entity referred to in Article 1(1), points (b), (c) or (d), of Directive 2014/59/EU.

(a) internal: MREL applied to entities that are not themselves resolution entities pursuant to Article 45f of Directive 2014/59/EU or resolution entities as referred to in the fourth subparagraph of Article 45f(1) of that Directive that are not subject to Article 45e(3) of that Directive.

(b) external: MREL applied to entities that are resolution entities pursuant to Article 45e of Directive 2014/59/EU.

Yes

No

(a) Article 45f(3);

(b) Article 45f(4);

(c) Article 45g;

(d) No waiver.

(a) single point of entry;

(b) multiple point of entry;

(c) liquidation.

(a) open bank bail-in;

(b) bridge institution;

(c) asset separation;

(d) sale of business;

(e) N/A.

(a) open bank bail-in;

(b) bridge institution;

(c) asset separation;

(d) sale of business;

(e) N/A.

(a) open bank bail-in;

(b) bridge institution;

(c) asset separation;

(d) sale of business;

(e) N/A.

(a) open bank bail-in;

(b) bridge institution;

(c) asset separation;

(d) sale of business;

(e) N/A.

ANNEX III Single Data Point Model and Validation Rules

PART ONE Single Data Point Model

All data items set out in the Annexes I and II shall be transformed into a single data point model which is the basis for uniform IT systems of resolution authorities. The single data point model shall meet the following criteria:

(a) provide a structured representation of all data items set out in Annexes I and II;

(b) identify all the business concepts set out in Annexes I and II;

(c) provide a data dictionary identifying table labels, ordinate labels, axis labels, domain labels, dimension labels and member labels;

(d) provide metrics which define the property or amount of data points;

(e) provide data point definitions that are expressed as a composition of characteristics that univocally identify the financial concept;

(f) contain all the relevant technical specifications necessary for developing IT reporting solutions producing uniform resolution reporting.

PART TWO Validation Rules

The data items set out in Annexes I and II shall be subject to validation rules ensuring data quality and consistency. The validation rules shall meet the following criteria:

(a) determine the logical relationships between relevant data points;

(b) contain filters and preconditions that determine a set of data to which a validation rule applies;

(c) check the consistency of the reported data;

(d) check the accuracy of the reported data;

(e) set default values that shall be applied where the relevant information has not been reported.

Versions

  1. 2021-04-15

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