The final execution of standards for loss absorbency was proving tricky because of both complications with the rules themselves and the challenge of implementing them across borders, the Bank of England’s Andrew Gracie said today (December 7).
The rules – known as total loss-absorbing capacity in many jurisdictions, or minimum requirements for eligible liabilities and own funds – have not been finalised everywhere. A particular question is how to internally allocate TLAC/MREL.
“The bank is in
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