Emma RadmoreFollowing the consultation at the end of last year, the Bank of England and PRA have published the final version of their proposals for resolvability.
The Resolvability Assessment Framework applies to certain UK banks and building societies, and comprises the measures and requirements set out in the Bank of England’s Statement of Policy, and the new PRA rules set out in a Resolution Assessment Part of the Rulebook with accompanying supervisory statement.
The measures are intended to ensure that firms are able to provide banking services during and after resolution, to permit regulators and/or new management to restructure the business as a going concern.