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(1) requirement RCI Banque has received the notification from ACPR, the French Prudential and Resolution Supervision Authority, implementing the decision of the Single Resolution Board (SRB) and discloses its updated binding minimum requirement for own funds and eligible liabilities (MREL (1)). MREL requirement is no longer defined on consolidated basis but has been set on an individual basis for both RCI Banque S.A and its French subsidiary DIAC S.A. RCI Banque S.A. MREL requirement has been set at 8% of total risk exposure amount (TREA (2)) and 3% of leverage ratio exposure (LRE (3)) As of...

To print this article, all you need is to be registered or login on Mondaq.com. Following the expiry of the transition period which ended on 31 December 2020 at 11pm GMT (known as "IP Completion Day"), the UK is no longer a member of the EU. During the transition period (between 31 January 2020 when the UK has formally withdrawn from the European Union) to the IP Completion Day, the UK has implemented certain key pieces of legislation to ensure that following its exit from the European Union, the majority of the EU laws which apply in financing transactions in their cu...

Operational resilience: developments in the financial services sector in the UK - In recent years, operational resilience has come under the spotlight of financial regulators globally,...

EBRD invests Nine Million Euros in Croatian Subsidiary of Austria’s Erste Group February 6, 2021 2:30 PM by Y.Z The European Bank for Reconstruction and Development (EBRD) is investing €9 million in bonds issued by Erste & Steiermärkische Bank d.d., the Croatian subsidiary of Austria’s Erste Group Bank AG, as part of a €45 million issuance listed on the Zagreb Stock Exchange and marketed mainly to local institutional investors. It is the EBRD’s first purchase of a bond eligible under the Minimum Requirement for own funds and Eligible...

EBRD in first MREL-eligible bond purchase in Croatia EBRD in first MREL-eligible bond purchase in Croatia Securities compliant with EU regulation Engagement to strengthen resilience and green agenda The European Bank for Reconstruction and Development (EBRD) is investing €9 million in bonds issued by Erste & Steiermärkische Bank d.d., the Croatian subsidiary of Austria’s Erste Group Bank AG, as part of a €45 million issuance listed on the Zagreb Stock Exchange and marketed mainly to local institutional investors. It is the EBRD’s first purchase of a bond eligible under the Minimum ...