CaixaBank approaches MREL target
Innovative social bond helps fill bail-in buffers
Spanish lender CaixaBank’s stock of bail-in debt and capital as a percentage of risk-weighted assets (RWAs) hit 21.4% at end-September, just 110 basis points shy of its 22.5% target.
This is up from 21.2% in Q2 and just 16% the same quarter a year ago. The ratio has improved 132bp year-to-date.
The bank issued a €1 billion ($1.1 billion) so-called ‘social bond’ in September, to fund loans “to fight poverty, advocate dignified employment and create jobs in disadvantaged areas of Spain”. This
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