QA2019-90 - Issuances under UK law

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Feb 01, 2024
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QA2019-90

Question


6. In the light of Brexit considerations, could you please clarify how issuances under UK law should be treated in MREL reporting as of 31.12.2018? Should such liabilities be treated under EU jurisdiction or shall be classified in column “Issuances under non-EU MS jurisdiction/law” ?


Response


At the reference date of the reporting, 31 December 2018, the UK will still be part of the EU. Therefore, all UK liabilities shall be treated as issuances under EU law.