PS9/26 – Resolution planning: Amendments to MREL reporting templates
AI Analysis
PS9/26 finalizes targeted amendments to MREL reporting templates, including changes to MRL001 and MRL003 data elements and the deletion of MRL002, reducing reporting burdens while maintaining resolution planning oversight. This matters for compliance teams as it streamlines processes under the PRA's Future Banking Data programme, with implementation from 1 January 2027, enabling firms to reallocate resources efficiently.
Key dates
- 1 April 2026
- - Partial revocation of UKTS 2018/1624 (COREP13), deleting certain templates ahead of April 2026 cycle for period ending 31 December 2025
- 1 April 2026 Deadline
- - PS10/26 effective (related: Resolution Assessment threshold amendments, reports due 2 October 2026)
- 1 January 2027 Deadline
- - Revised MRL001 and MRL003 templates effective; first submissions of 2026 Q4 data (ending 31 December 2026) due in **February 2027**
- 1 January 2027
- - PS11/26 effective (related: disclosures from 2027 H1 for period ending 31 December 2026)
Suggested considerations
- Review and update internal reporting systems to incorporate revised MRL001/MRL003 templates and deleted MRL002 by 1 January 2027.
- Implement updated reporting instructions and SS19/13 amendments, including clarified scope of instruments in MRL templates.
- Prepare for Q4 2026 data submission in February 2027 using new taxonomy (to be published shortly by PRA).
- For firms with deleted COREP13 templates, cease submissions from April 2026 cycle.
- Conduct gap analysis against SS19/13 changes and test processes for quarterly MREL reporting continuity.
What changed
- - Amendments to data elements in the MREL resources template (MRL001) and MREL debt template (MRL003), with full deletion of the MREL resources forecast template (MRL002).
- Consequential updates to reporting instructions (Appendix 2) and Supervisory Statement SS19/13 (Appendix 3), including relocation of instrument scope descriptions to reporting instructions for clarity.
- No changes to quarterly reporting frequency for MRL001/MRL003, despite industry requests for semi-annual alignment, to ensure monitoring of loss-absorbing capacity.
- PRA to publish updated reporting taxonomy shortly.
Compliance impact
Urgency: Medium – Changes reduce burden (net simplification, ~25% per industry feedback) but require system updates before 1 January 2027 submissions; non-compliance risks resolution planning scrutiny, though lead time mitigates immediate pressure. Matters for maintaining accurate MREL monitoring amid PRA's FBD efficiency drive.
Who is affected
Related regulations
References
AI-generated analysis. May contain errors or omissions — verify with the original PRA source before acting. Full disclaimer.
What the PRA said
Policy statement 9/26
Published by PRA . Read the full notice at the source for the authoritative text.