The RAF sets out how the Bank of England, as the UK’s resolution authority, assesses firms’ preparedness for resolution, and whether they have identified potential impediments to successful resolution so that they can be addressed.
The RAF builds on the work since the global financial crisis to create a resolution regime that ensures firms can fail in an orderly way. The framework is designed to make resolution more transparent, better understood, and more successful.
Resolvability assessments of major UK banks
The Bank's public statement explains how we undertook the assessment and summarises thematic findings and the assessment for each of the firm’s ability to achieve the three resolvability outcomes, as set out in the RAF Statement of Policy. Firms also publish summaries of their own preparations for resolvability.