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Home > Prudential Regulation Authority > Ensuring operational continuity in resolution: reporting requirements – CP28/16

Ensuring operational continuity in resolution: reporting requirements – CP28/16

29 July 2016


In this consultation paper (CP) the Prudential Regulation Authority (PRA) sets out proposals for data that the PRA intends to collect in connection with the final policy on operational continuity set out within Supervisory Statement (SS) 9/16 ‘Ensuring operational continuity in resolution’ and the General Organisational Requirements and Outsourcing Parts of the PRA Rulebook.

This CP is relevant to UK banks, building societies and UK designated investment firms (hereinafter ‘firms’) that provide functions that are critical to the economy and that need to be continued in resolution. The proposals are intended to apply to those firms in scope of the application thresholds set out in 1.1 of the Operational Continuity Part of the PRA Rulebook.

Summary of proposals

This consultation sets out proposals for firms to report on the activities and financial resources of their group provider(s). This will enable the PRA to monitor its expectations for the adequacy of a group provider’s liquid assets. SS9/16 sets out that a firm should ensure that, as a minimum, a group provider should be supported by liquidity resources equivalent to at least 50% of annual fixed overheads of the critical services provided by the group provider.

  • The PRA proposes that firms in scope will be required to submit the information annually, on a calendar year basis. Such firms must submit the information 45 business days after the first reporting period ending 31 December 2019, with the first submission due in March 2020. 


The reporting policy contained in this CP has been designed in the context of the current UK and EU regulatory framework. The PRA will keep the policy under review to assess whether any changes may be required due to changes in the UK regulatory framework, including those arising once any new arrangements with the European Union take effect. The PRA intends any eventual rules and reporting to apply from 1 January 2019.


This consultation closed on Friday 28 October 2016. Please address any comments or enquiries to

Consultation paper

Ensuring operational continuity in resolution: reporting requirements – CP28/16

Proposed amendments to the PRA Regulatory Reporting Part of the PRA Rulebook, amendments to SS34/15 ‘Guidelines for completing regulatory reports’ a draft reporting instructions and a template are set out in the appendices to this CP.