On the 19th November 2018, the Bank (as the UK’s resolution authority), sent a letter to CFOs of relevant firms regarding the Bank’s policy on valuation capabilities to support resolvability, published in June 2018.
The purpose of these letters is twofold. First, they provide illustrative and non-binding guidance to support firms’ implementation of the Bank’s policy. Second, they ask for firms to complete an informal survey on how they intend to comply with the policy. The policy comes into effect on 1 January 2021.Letter to CFOs