Introduction of senior non-preferred debt in the Netherlands
The Netherlands legislature has published the legislative proposal to introduce 'senior non-preferred debt' in the Netherlands. It will implement the relevant EU Directive.
The Directive and proposed implementing Act aim to facilitate the application of bail-in under the EU recovery and resolution framework for banks, investment firms and their groups and it allows such institutions to maintain sufficient - subordinated - 'bail-inable' capital (also known as 'MREL' or 'TLAC').
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