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ARTICLE · 26 JUNE 2018

UK Prudential Regulator Confirms Its Approach To MREL Reporting

A&O Shearman
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On June 13, 2018, the U.K. Prudential Regulation Authority published a Policy Statement on reporting MREL and an updated Supervisory Statement "Resolution Planning," ...

United KingdomFinance and Banking
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On June 13, 2018, the U.K. Prudential Regulation Authority published a Policy Statement on reporting MREL and an updated Supervisory Statement "Resolution Planning," following a consultation which ran from January 8 to April 9, 2018.

The PRA is implementing its proposals largely as consulted on. However, due to queries from some respondents on the frequency of reporting and on the draft reporting templates and guidance, the PRA has made some minor amendments to provide clarification on the reporting templates and guidance and some changes to reflect the fact it will take a more proportionate approach to the frequency of reporting so as to not place a disproportionate burden on certain firms.

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