Investor Presentaiton
MREL Requirement
Bank of Ireland 2021 Interim Results - Debt Investor Presentation
27.47%
.
Jun 21 MREL ratio of 27.6% (10.4% on a leverage basis)
Interim binding MREL requirements, to be met by 1 Jan
2022, of 24.95% on an RWA basis and 7.59% on a leverage
basis.
24.95%
4%
4%¹
23.47%²
27.6%
20.95%
29
29
MREL Ratio
CBR
SRB Target
MREL Requirement
MREL RWA requirement consists of a Single Resolution
Board (SRB) target of 20.95% (based on the Group's capital
requirements as at 30 Jun 2020) and Group's expected
Combined Buffer Requirement (CBR) of 4% on 1 Jan 2022
(comprising the Capital Conservation Buffer of 2.5% and
an O-SII buffer of 1.5%)
2024 MREL requirement is expected to increase to
c.28% (based on expected Dec 2021 regulatory capital
requirements) as the SRB target is updated to reflect the
phase-in of the O-SII buffer and the phase-out of MREL
adjustments
MREL eligible senior debt issuance of c.€1bn-€2bn
p.a. anticipated
Dec 20
Jan 22
requirement
Jan 24
expected requirement
1 Expected CBR of 4% on 1 Jan 2022 comprising CCB of 2.5% and OSII of 1.5%
2 Expected Jan 2024 SRB Target of 23.47% assumes the MCC adjustment of 0.94% is reduced to 0.31% at Jan 2024
before reducing to 0% by Jan 2025
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