The Prudential Regulation Authority (PRA) has issued a policy statement setting out its final rules, following consultation, to recalibrate parts of the Bank of England’s resolution and recovery frameworks. The package raises the retail deposit threshold for firms to fall within the PRA Rulebook’s Resolution Assessment reporting and disclosure requirements, and reduces how often Small Domestic Deposit Takers (SDDTs) must conduct formal reviews of their recovery plans. The Resolution Assessment threshold increases from GBP 50 billion to GBP 100 billion in retail deposits, meaning only UK firms at or above that level come into scope of the relevant reporting and public disclosure rules. SDDTs and SDDT consolidation entities will be required to review recovery plans at least once every two years rather than at least annually, while still updating plans more frequently where changes could materially affect them, with “new and growing” banks expected to need more regular updates than the minimum. The final policy remains substantively unchanged from the consultation, with amendments made to the Resolution Assessment and Recovery Plans parts of the PRA Rulebook and to Supervisory Statement 9/17, and related EU-exit references and certain legal definitions updated; the changes do not apply to credit unions. The amendments take effect on 1 April 2026. The PRA notes it has already communicated the next expected reporting and disclosure dates for firms in scope of the revised Resolution Assessment threshold and will set expectations for first submissions when a firm newly enters scope.

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