Resolution planning

Supervisory Statement 19/13

First published 19 December 2013


The Resolution planning supervisory statement sets out our expectations for the information that firms should provide to us to aid resolution planning. 

7 May 2020: Extension of SS19/13 Resolution Pack Phase 1 reporting pause

On 31 August 2018 the PRA announced that it would delay Resolution Pack Phase 1 submissions under SS19/13 to 2020 for the largest PRA regulated firms (please see ‘past updates’ below), specifically those not subject to Simplified Obligations (SO) for Resolution Planning as defined in the EBA Regulatory Technical Standards (RTS) on SO. In that announcement, smaller firms subject to SO were expected to continue to submit Phase 1 resolution planning information. The PRA also noted that resolution planning information could still be requested from all firms under SS19/13 Phase 2 requirements. These decisions were taken in light of EBA reporting requirements published subsequent to SS19/13. The concern was that there could be duplicative reporting for larger firms. 

The postponement of Resolution Pack Phase 1 submissions under SS19/13 has been extended to the end of 2022 in order to alleviate operational burden on firms in response to the Covid-19 outbreak. The postponement now applies to all firms in scope of the Resolution Pack Part of the PRA Rulebook, unless a firm has been notified otherwise on an individual basis by the PRA. Phase 2 reporting under SS19/13 remains unchanged, although the PRA may still request this information from firms. Minimum requirement for own funds and eligible liabilities (MREL) reporting under SS19/13 also remains unchanged. 

10 June 2019: Publication of EU’s revised rules on capital requirements 

The European Union published a package of legislative amendments in the Official Journal of the European Union on 7 June 2019 - see Official Journal of the European Union, L 150, 7 June 2019.

The package included a new Regulation (EU/2019/876) amending Regulation (EU/575/2013) as regards the leverage ratio, the net stable funding ratio, requirements for own funds and eligible liabilities, counterparty credit risk, market risk, exposures to central counterparties, exposures to collective investment undertakings, large exposures, report and disclosure requirements, and Regulation (EU/648/2012) (CRR II).

CRR II includes requirements which enter into force from 27 June 2019 (see Article 3 (3)). In light of the change to CRR Article 26(3), we recognise that Rules 7.1 and 7.5 of the Definition of Capital Part of the PRA Rulebook no longer achieve the purpose for which they were made. Therefore, it has been decided to offer a modification by consent, please see our Waivers and modifications of rules page. We intend to consult in due course on amending Chapter 7 of the Definition of Capital Part of the PRA Rulebook, and any expectations we have of firms on the application of CRR Article 26(3).

CRR II resolution specific requirements will apply to UK global systemically important banks (G-SIBs) and UK material subsidiaries of non-EU G-SIBs from 27 June 2019. These firms should refer to the notice found on the Resolution page.

Past versions

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