Bank of England sets out interim ‘bail-in’ debt targets for banks By Reuters

LONDON (Reuters) – The Bank of England on Tuesday set out interim levels of special debt that banks including HSBC, Barclays (LON:BARC) and Lloyds (LON:LLOY) must issue over coming years for writing down in a crisis to avoid taxpayer bailouts.

The BoE said it would review how the minimum requirement for own funds and eligible liabilities or MREL is calibrated, and the final compliance date before setting “end state” amounts.

“In doing so, we will have regard to any intervening changes in the UK regulatory framework,” it said in a statement.