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Leeds Building Society received formal notification from the Bank of England confirming that, effective 1 January 2026, its resolution strategy will be reclassified to a transfer institution. From the same date, the Bank of England directed the Society's minimum requirements for own funds and eligible liabilities (MREL) to be set equal to its minimum capital requirements. These requirements are defined as the aggregate of its Pillar 1 and Pillar 2A capital requirements, as determined by the Prudential Regulation Authority.
| Date | 8 Jan 2026 |
| Time | 13:16:21 |
| Category | Miscellaneous |
| ID | 2147O |
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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