PS9/26 – Resolution planning: Amendments to MREL reporting templates
Executive Summary
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. #
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. #
What You Need To Do
- 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
Key Dates
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
Summary
Policy statement 9/26