The Bank of England (the Bank) published a consultation paper (CP) in October 2017, explaining policy proposals in respect of internal MREL and setting out proposed additions and amendments to the MREL Statement of Policy (SoP) that would be needed to address them. It also proposed amendments to the SoP to address operational continuity requirements and the setting of external MREL for multiple point of entry (MPE) groups. In addition, it provided an update on how the Bank intends to develop its policy on requiring firms to disclose and report their MREL resources, and on restrictions on firms investing in each ... (full story)