European Banking Authority publishes Q2 2025 MREL dashboard highlighting 28.9% average external requirement for GSIIs and EUR 221 billion of instruments maturing into ineligibility by June 2026

The European Banking Authority has published its Q2 2025 semi-annual dashboard on the minimum requirement for own funds and eligible liabilities (MREL), updating aggregated information on resolution planning decisions and the resources banks are using to meet their requirements. The dataset covers 304 banks earmarked for resolution across the European Union, based on information reported by resolution authorities and banks. As of 30 June 2025, the average external MREL binding requirement including the combined buffer requirement stood at 28.9% of risk-weighted assets (RWA) for global systemically important institutions (GSIIs), 28.5% for Top-Tier and fished banks, and 24.3% for other banks, while the average subordination requirement was 21.5% of RWA for GSIIs and 22% for Top-Tier and fished banks. Banks mainly meet MREL through own funds (19.8% of RWA for GSIIs, 21.6% for Top-Tier and fished banks, and 20.8% for other banks), with GSIIs and Top-Tier and fished banks relying primarily on senior non-preferred debt for eligible liabilities (8.2% and 7.7% of RWA respectively) and other banks showing greater reliance on senior unsecured debt (5.8% of RWA). Instruments set to become ineligible by June 2026 due to residual maturity falling below one year total EUR 221 billion, equivalent to 16% of eligible instruments other than own funds for GSIIs, 20% for Top-Tier and fished banks and 21% for other banks; bail-in remains the dominant preferred strategy by RWA (94%), while decisions are split between bail-in (52%) and transfer (48%).