Euroclear beats the rush with MREL-driven issue

摘要

Euroclear investments priced a dual-tranche euro trade designed to increase the loss-absorbing capacity in its main subsidiaries, to satisfy new European rules. Traditional banks account for most issuance driven by the Minimum Requirement for own Funds and Eligible Liabilities (MREL). The rules, however, also apply to entities such as Euroclear Bank, which is regulated by the Bank Recovery and Resolution Directive (BRRD) to ensure it can perform its critical economic functions even in a crisis.