Metro Bank has received formal confirmation from the Bank of England that it will be reclassified as a transfer firm under the MREL regime, effective 1 January 2026.

As a transfer firm, Metro Bank’s MREL will be set equal to current minimum capital requirements of 13.7% including buffers and 9.2% excluding buffers.

Daniel Frumkin, Chief Executive Officer at Metro Bank, said:

“We are pleased to have received confirmation of our MREL reclassification, as we anticipated following the Bank of England’s announcement in July. This is a positive development which affords us more capital flexibility, enhancing our ability to lend into the UK economy and creating further value for our shareholders”.