The Prudential Regulation Authority (PRA) requires firms to conduct a self-assessment of their resolvability, consistent with the Bank of England’s Resolvability Assessment Framework (RAF), and to publish a summary of that assessment and their preparedness for resolution on a two-yearly cycle.
The public summary aims to foster transparency in (and build an understanding of) the UK’s resolution regime and make sure that market participants and other stakeholders understand the risks to which they may be exposed in resolution.
