PRA consults on solvent exit planning for non-systemic firms

PRA is consulting on expectations on non-systemic banks and building societies in terms of preparing for, and if necessary being able to execute, an orderly exit. It plans to:

• require firms to prepare for a solvent exit as part of BAU, and document their preparations;
• new expectations on planning and monitoring if a solvent exist becomes a reasonable prospect; and
• consequential changes to its supervisory statement.

Consultation closes on 27 October.