and eligible liabilities (MREL) are also highly detailed and discretionary and thus alleviate the predicament of investors … in bail-in debt, at best, only insufficiently. Quite importantly, given the character of typical MREL instruments as non … purchase, subsequent adjustment of MREL-prescriptions by competent or resolution authorities potentially change the risk …

and eligible liabilities (MREL) are also highly detailed and discretionary and thus alleviate the predicament of investors … in bail-in debt, at best, only insufficiently. Quite importantly, given the character of typical MREL instruments as non … purchase, subsequent adjustment of MREL-prescriptions by competent or resolution authorities potentially change the risk …

securities holdings by banks, we document that the introduction of the minimum requirements for eligible liabilities (MREL … funds and eligible liabilities (TLAC) instead raised the incentives for non-issuing banks to invest in eligible subordinated …