8.1 Firms should ensure that their existing MA portfolios satisfy the MA eligibility conditions on an ongoing basis. The PRA expects a robust process to assess this to form part of a firm’s risk governance. As part of its supervision of firms, the PRA may periodically review a firm’s ongoing compliance with MA eligibility conditions, including:
• documentation relating to the MA portfolio’s compliance with relevant requirements; and
• management information with regards to the ongoing monitoring of the MA portfolios.
8.1A Firms with permission to apply the MA are expected to complete the Matching Adjustment Asset and Liability Information Return (MALIR) on an annual basis. With effect from 31 December 2024, this will be a requirement in the PRA Rulebook. The PRA recognises that in some circumstances the requirement to complete a MALIR on an annual basis (as provided under rule 2.5B of the Reporting Part of the PRA Rulebook [Contained in rule 2.5B(11) of the near-final rules i
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