Bank finance – TLAC and MREL

Topic Guides

Regulators have added two new ingredients – TLAC and MREL – to the alphabet soup of post crisis regulatory reform aimed at ending "too-big-to-fail". Regulators are now looking to ensure that banks' liability structures provide sufficient total loss absorbing capacity (TLAC) or (in the EU) minimum own funds and eligible liabilities (MREL) to absorb losses and facilitate the recapitalisation of the bank in resolution.

This Topic Guide helps you navigate relevant international source material as well as the European and domestic measures rules through which the TLAC and MREL requirements are being implemented. The guide also provides easy access to briefing notes and other materials prepared by Clifford Chance's team of bank capital experts.


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