Bank of England publishes policy statement on deleting six COREP13 resolution reporting templates

The Bank of England has published a policy statement responding to its consultation on streamlining resolution reporting by deleting six templates in the UK Technical Standards on resolution reporting (COREP13 UKTS), which underpin annual COREP13 submissions to the UK resolution authority. The proposal set out in the consultation would remove templates Z 02.00, Z 03.00, Z 04.00, Z 05.01, Z 05.02 and Z 06.00, covering firms’ liability structure, own funds requirements, intragroup financial interconnections, major liability and off-balance sheet counterparties, and deposit insurance information. The Bank’s rationale was to reduce duplicative or non-essential reporting, including where a limited number of fields are proposed to be incorporated into revised Prudential Regulation Authority (PRA) minimum requirement for own funds and eligible liabilities (MREL) reporting templates. A quantitative assessment estimated an aggregate present value net benefit to firms of up to GBP 6.9 million over 10 years, with around 1,100 data points removed on average and an estimated annual net benefit of about GBP 37,700 per firm. Responses to the consultation were requested by 21 November 2025. The consultation envisaged a partial revocation of COREP13 UKTS via a standards instrument submitted to HM Treasury for approval, with a proposed effective date of 1 April 2026 to align with the annual reporting cycle due for submission in April 2026; the Bank also flagged that, due to RegData systems limitations, deleted templates might temporarily remain in the system and require negative filing indicators until removed.