8th Jan 2026 13:16
Leeds Building Society - MREL Update
Leeds Building Society (the 'Society') announces that it has received formal notification from the Bank of England confirming that, with effect from 1 January 2026, the Society's preferred resolution strategy under the Special Resolution Regime will be reclassified to being a transfer institution.
The Bank of England has further directed that, from 1 January 2026, the Society's minimum requirements for own funds and eligible liabilities ('MREL') will be set at a level equal to its minimum capital requirements, defined as the aggregate of its Pillar 1 and Pillar 2A capital requirements, as determined by the Prudential Regulation Authority.
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