The Bank of England has today published a letter to the CEOs of the eight major UK banks in scope of the first Resolvability Assessment Framework (RAF) reporting and disclosure cycle.
The Resolvability Assessment Framework (RAF) sets out what firms need to do to be considered resolvable by the Bank of England, as the UK’s resolution authority. It builds on the work since the financial crisis to create a resolution regime that ensures firms can fail in an orderly way. The framework is designed to make resolution more transparent, better understood and more successful.
Read the Letter from Dave Ramsden on firms’ Resolvability Assessment Framework preparations.
