The Bank of England and Prudential Regulation Authority (PRA) have published final policy statements changing firms’ recovery and resolution reporting and disclosure requirements, aiming to reduce regulatory burden while maintaining a robust resolution regime. Key measures include increasing the threshold for firms in scope of Resolution Assessment Framework (RAF) reporting and disclosure from GBP 50bn to GBP 100bn in retail deposits, and requiring Small Domestic Deposit Takers to review recovery plans every two years rather than annually from 1 April 2026. The package also confirms targeted amendments to Minimum Requirement for Own Funds and Eligible Liabilities (MREL) reporting to simplify and clarify expectations, and changes to Pillar 3 disclosure to improve how firms explain resolvability resources, capital distribution constraints and their disclosure preparation, with both MREL and disclosure changes implemented from 1 January 2027. These updates follow earlier confirmation that several resolution reporting templates will be deleted from 1 April 2026. The final rules incorporate feedback to three PRA consultation papers published in July 2025 and are set out across policy statements PS9/26, PS10/26 and PS11/26.
Bank of England 2026-03-26
Bank of England and Prudential Regulation Authority finalise resolution reporting reforms raising RAF threshold to GBP 100bn retail deposits
The Bank of England and Prudential Regulation Authority have issued final policy statements revising recovery and resolution reporting and disclosure requirements to reduce regulatory burden while maintaining a robust resolution regime. Key changes include raising the Resolution Assessment Framework threshold from GBP 50bn to GBP 100bn in retail deposits and altering review frequency for Small Domestic Deposit Takers' recovery plans. Amendments to MREL reporting and Pillar 3 disclosure will be implemented by 2027, following feedback from consultation papers.