Banking Resolution
Senior Preferred

Senior preferred debt

Senior preferred debt is ordinary senior unsecured funding: it ranks alongside a bank's other unsecured liabilities and is bailed in only after every subordinated layer — equity, AT1, Tier 2 and senior non-preferred — has been exhausted.

Senior preferred is the last layer of bank funding reached before a resolution would start touching operating liabilities. It can count towards MREL, but a subordination requirement usually caps how much of the total it may satisfy. Full definition in the glossary.

Live instruments
18,844
Source: ESMA FIRDSUpdated 2026-07-25
Issuers
60
Source: ESMA FIRDSUpdated 2026-07-25
Notional (EUR lines)
EUR 1,749,155m
Source: ESMA FIRDSUpdated 2026-07-25
EUR lines with notional
13,133of 18,844
Source: ESMA FIRDSUpdated 2026-07-25

Notional is summed over EUR-denominated lines that report an amount. FIRDS carries no exchange rates, so amounts in other currencies are counted but never converted.

By issuer country

CountryInstrumentsNotional (EUR)
DEGermany11,114EUR 861,806m
FRFrance4,068EUR 324,193m
FIFinland725EUR 11,840m
ATAustria499EUR 30,523m
ITItaly460EUR 83,628m
GBUnited Kingdom445EUR 79,280m
ESSpain429EUR 55,451m
DKDenmark309EUR 19,536m
NLNetherlands275EUR 158,098m
CHSwitzerland170EUR 37,520m
SESweden162EUR 23,270m
BEBelgium72EUR 24,299m
PTPortugal33EUR 12,837m
NONorway32EUR 6,241m
IEIreland28EUR 10,550m
GRGreece23EUR 10,083m

Largest issuers

By number of live instruments. Issuance count is not issuance volume — a bank running a large medium-term note programme shows many small lines.

Most recently issued

Source: ESMA FIRDSUpdated 2026-07-25

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