Rocamora, María; Suárez, Nuria; Monjas Barroso, Manuel - 2020
We examine the risk sensitiveness of minimum requirement for own funds and eligible liabilities (MREL)-eligible debt … MREL-eligible debt is risk sensitive, as investors closely monitor indicators related to individual banks, issuance … characteristics, market risk variables and the features of the banking system potentially affecting MREL-eligible debt default risk …