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ARTICLE · 14 SEPTEMBER 2018

UK Regulator Confirms Its Expectations On Reporting For Resolution Planning

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On August 31, 2018, the Prudential Regulation Authority issued an update on the application of its supervisory statement, "Resolution Planning."

United KingdomFinance and Banking
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On August 31, 2018, the Prudential Regulation Authority issued an update on the application of its supervisory statement, "Resolution Planning." The supervisory statement sets out the PRA's expectations on the resolution planning information that firms must submit to comply with their obligations under the EU Bank Recovery and Resolution Directive. The update confirms the approach that will be taken by the PRA and the Bank of England as the U.K.'s national resolution authority.

Following a consultation launched in October 2017, in April 2018, the European Banking Authority submitted final draft revised Implementing Technical Standards under the BRRD to the European Commission. The revised ITS set out procedures and a minimum set of standard templates for use by institutions when providing resolution planning information to resolution authorities. The ITS stipulate that the new framework will take effect in 2019 when resolution authorities collect information as of

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