The Prudential Regulation Authority (PRA) has published a policy statement giving feedback on CP15/25 and confirming targeted amendments to Minimum Requirement for Own Funds and Eligible Liabilities (MREL) reporting. The final package is as consulted, revising data elements in the MREL resources template (MRL001) and MREL debt template (MRL003), deleting the MREL resources forecast template (MRL002), and making consequential updates to reporting instructions and Supervisory Statement 19/13. The changes apply to UK banks, building societies, PRA-designated investment firms and qualifying parent undertakings in scope of the PRA Rulebook Resolution Pack, particularly firms with an external and/or internal MREL above minimum capital requirements and/or a preferred resolution strategy using stabilisation powers (bail-in or transfer). The PRA decided not to align the structure or content of MRL001 and MRL003 with disclosure templates or reduce reporting frequency, citing different supervisory and market-transparency purposes, but added clarifications, guidance and illustrative examples, including on instrument scope (such as minority interests and instruments subject to redemption notices) and certain technical completion points. The revised MRL001 and MRL003 templates take effect from 1 January 2027, with firms submitting 2026 Q4 data under the new requirements in February 2027, and the PRA will publish an updated reporting taxonomy. Until then, bail-in strategy firms should continue using existing MRL001 and MRL003 and complete only the “Current Reporting” column in MRL002, while transfer-strategy firms can stop submitting MRL001 and MRL002 with immediate effect and continue using the existing MRL003 template until the revised version comes into force.
Prudential Regulation Authority 2026-03-26
Prudential Regulation Authority finalises MREL reporting changes deleting the MRL002 forecast template and revising MRL001 and MRL003 from 2027
The Prudential Regulation Authority (PRA) has issued a policy statement confirming amendments to Minimum Requirement for Own Funds and Eligible Liabilities (MREL) reporting, affecting UK banks, building societies, PRA-designated investment firms, and qualifying parent undertakings. Key changes include revisions to MREL templates MRL001 and MRL003, deletion of MRL002, and updates to reporting instructions and Supervisory Statement 19/13. The revised templates will be effective from January 2027, with interim guidance for firms with different resolution strategies.