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PRA publishes PS5/24 on solvent exit planning for non-systemic banks and building societies

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Published on: 12 March 2024

Published by LNB News

LNB News 12/03/2024

Document Information

Issue Date: 12 March 2024

Published Date: 12 March 2024

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Prudential Regulation Authority (PRA) has published policy statement PS5/24, Solvent exit planning for non-systemic banks and building societies, providing feedback to responses to consultation paper CP10/23 and supervisory statement SS2/24, both of the same name. Having considered the responses to CP10/23, the PRA has made changes to the final policy to further clarify its expectations. The Recovery Plans outlined in Chapter 7 will come into force on 1 October 2025. Firms are also expected to meet the expectations in supervisory statement SS2/24 by the same date.

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