Update 16 January 2016 - this Policy Statement has been superseded. For updated policy published on 16 January 2015 see:
Supervisory tools: Recovery and resolution plans - PS8/13, SS18/13 and SS19/13
A core aspect of the Prudential Regulation Authority’s (PRA) approach is that it will ensure preparedness for either recovery or resolution of a failing firm. This PRA policy statement contains final rules on recovery and resolution planning and is accompanied by two supervisory statements. Together these documents set out the PRA’s recovery and resolution planning framework.
The rules will require banks, building societies and PRA-regulated investment firms to produce recovery plans (identification of options to recover financial strength in stress situations) and resolution packs (information to support resolution planning by the authorities).
Recovery Supervisory Statement
The Recovery planning supervisory statement sets out our expectations for firms’ recovery plans.
Supervisory Statement 18/13
Resolution Supervisory Statement
The Resolution planning supervisory statement sets out our expectations for the information that firms should provide to us to aid resolution planning.