The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht - BaFin) published Circular No. 08/2019 (A), addressed to institutions for which insolvency proceedings can be considered as a feasible resolution strategy and which do not fall under the jurisdiction of the Single Resolution Board (SRB) as resolution authority, in which it sets out its administrative practice for determining the minimum requirement for own funds and eligible liabilities (MREL).

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