The independent reference on European banking resolution

Glossary, entity profiles and MREL-eligible debt issuance data — compiled from ESMA FIRDS, GLEIF and official publications, with every figure carrying its source.

Explore instruments Browse the glossary

Loss absorptionlosses flow downwards ↓

CET1 — equityabsorbed first

Additional Tier 1AT1

Tier 2T2

Senior Non-PreferredSNP

Senior PreferredSP

Covered bonds & securedCOV

Covered deposits≤€100k

Creditor hierarchy under BRRD — bail-in order (simplified)Art. 48 BRRD

Debt instruments tracked

119,858

Source: ESMA FIRDSUpdated 2026-07-21

Capital-stack instruments

21,812

Source: ESMA FIRDSUpdated 2026-07-21

Entities covered

Source: GLEIF · SSM · SRB

Last FIRDS sync

2026-07-21

Source: ESMA FIRDS

Latest issuances

All instruments

First trade	Issuer	Seniority	Coupon	Amount
2026-09-30	Société Générale	COV	60%	EUR 30m
2026-07-31	Société Générale	COV	60%	EUR 30m
2026-07-30	Raiffeisen Bank International	SP	0%	EUR 100m
2026-07-30	Raiffeisen Bank International	SP	0%	PLN 100m
2026-07-23	Commerzbank	COV	2.625%	EUR 1,250m
2026-07-23	BayernLB	COV	2.875%	EUR 750m
2026-07-21	Deutsche Bank	COV	5%	EUR 24m

Regulatory updates

All news

Speech by Commissioner Kubilius at the IRIS² - Polish contribution Agreement Signature Ceremonyfisma2026-07-21 ESMA calls on firms to finalise preparations ahead of T+1 settlement deadlinesesma2026-07-20 ESMA publishes report on cross-border investment services supervisionesma2026-07-20 Daily News 20 / 07 / 2026fisma2026-07-20 PRA fines HDI Global SE £4,165,000 for inaccurate reporting of FSCS Liabilities and FSCS Fee Tariff databoe2026-07-20 Banks continue to meet their MREL targets at year end 2025srb2026-07-20 Questions and answers on a set of recommendations to implement the EU Methane Regulationfisma2026-07-19 Commission provides clarity on how to effectively implement EU rules to reduce methane emissionsfisma2026-07-19

Understand the framework

Full glossary

Additional Tier 1 (AT1)Additional Tier 1 instruments are perpetual, deeply subordinated bank securities with discretionary coupons that convert to equity or are written down when the issuer's capital falls below a contractual trigger — the first debt layer to absorb losses.Asset separation toolThe asset separation tool transfers impaired or problem assets of a bank in resolution to a dedicated asset management vehicle — a “bad bank” — to be managed or sold over time; it may only be used together with another resolution tool.Bail-inBail-in is the resolution tool that absorbs a failing bank's losses by writing down or converting its capital instruments and eligible liabilities in creditor-hierarchy order, so shareholders and creditors — not taxpayers — bear the cost of failure.Bridge institution toolThe bridge institution tool transfers a failing bank's critical functions to a temporary, publicly controlled bank — a bridge — keeping them running until a private sale or orderly wind-down, normally within two years.Creditor hierarchyThe creditor hierarchy is the statutory ranking of a bank's capital and liabilities that fixes the order in which they absorb losses: equity first, then AT1, Tier 2, other subordinated debt, senior non-preferred, and ordinary senior claims.Failing or likely to fail (FOLTF)“Failing or likely to fail” is the supervisory determination that a bank infringes — or will soon infringe — its authorisation requirements, cannot pay its debts as they fall due, or requires extraordinary public support. It is the trigger of the resolution sequence.

Source: ESMA FIRDS · GLEIF · official press feeds