On 8 October 2024, the Prudential Regulation Authority (PRA) published Consultation Paper 12/24 ‘Resolution assessments: Amendments to reporting and disclosure dates’ (CP12/24).
Existing rules
The existing PRA rules provide that each firm to which the Resolution Assessment Part of the PRA Rulebook applies is required to carry out an assessment of its preparations for resolution and submit a report to the PRA every two years, by the first Friday in October. Each firm must then publish a summary of its report by the second Friday in June of the following year. Separately, the Bank of England carries out an assessment of these firms’ preparations for resolution and makes a public statement on each firm’s resolvability at the same time as the firms publish their disclosures.
Proposals
In CP12/24 the PRA sets out proposals to amend the Resolution Assessment Part of the PRA Rulebook and Supervisory Statement 4/19 (SS4/19). The proposals relate to amendments to reporting and disclos
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