QA2025-10- Earliest redemption date for bail-in purposes

Question

What should be the correct interpretation of the field earliest redemption date for bail in purposes? Should a contractual call option date without existence of incentive to redeem considered in the calculation? E.g. in the context of MREL internal and external eligible instruments, the issuer, upon the approval of the Supervisory, can recall the instrument prior to its original contractual maturity. Should such call date be included in the calculation of the earliest redemption date?

Response

Yes, a contractual call option without incentive to redeem must be considered for the computation of the earliest redemption date.

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