January 8, 2018
The Prudential Regulation Authority (PRA) published a consultation paper (CP 1/18) setting out its proposed expectations for reporting on the minimum requirement for own funds and eligible liabilities (MREL) through updates to Supervisory Statement (SS) 19/13 ‘Resolution planning’.
The CP proposes to provide the PRA and BoE with information to monitor firms’ progress towards meeting interim MREL, and eventual compliance with end-state MREL to ensure that the policy objectives that underpin MREL are met.
Please refer to the Bank of England’s site, here, for further information.
- Outline for AxiomSL’s Bank of England (BoE) Reporting