SS4/21 | SS9/16 – Ensuring operational continuity in resolution

Supervisory Statement 4/21 | 9/16
Published on 28 May 2021

First published on 7 July 2016

This supervisory statement is relevant to UK banks, building societies and PRA-authorised investment firms (hereinafter ‘firms’) to which the Operational Continuity Part of the PRA Rulebook applies. The purpose of this supervisory statement is to set out the PRA’s expectations on firms to ensure operational continuity of critical services to facilitate recovery actions, orderly resolution and post-resolution restructuring.

Critical services are those services that need to be available to one or more business units of a firm or entity of a group in order to provide functions critical to the economy. Providing clarity on the PRA’s expectations in this area supports the PRA’s general objective of promoting the safety and soundness of firms by reducing the adverse effects that the disorderly failure of a firm can have on the UK financial system.

Current version

Published on 07 July 2016. Effective from 07 July 2016.

- Following PS21/16 ‘Ensuring operational continuity in resolution’

Future version

Published on 28 May 2021. Effective from 1 January 2023.

- Following PS9/21 ‘Operational continuity in resolution: Updates to the policy’

Give your feedback

Was this page useful?
Yes
No
Add your details...