BoE consults on partial revocation of UK Technical Standards on resolution reporting

The Bank of England (BoE) has published a consultation paper proposing the partial revocation of the UK Technical Standard (UKTS) 2018/1624 on resolution reporting, specifically relating to COREP13 templates. The proposal seeks to remove six templates that collect on- and off-balance sheet data from firms for resolution planning, to reduce duplicative and non-essential reporting for firms regulated by the UK Prudential Regulation Authority (PRA). The BoE intends to rely on alternative means to have access to information it requires to meet its obligations, such as the Resolvability Assessment Framework and revised PRA Minimum Requirement for Own Funds and Eligible Liabilities (MREL) reporting templates expected to take effect from 1 January 2027. The BoE plans to publish the revised policy by the end of Q1 2026, with the proposed revocation date taking effect from 1 April 2026, ahead of the next annual reporting cycle. Firms would no longer be required to submit the six deleted templates, although they may remain visible in the RegData reporting system due to technical limitations. In such cases, firms are expected to use simple negative filing indicators. The remaining COREP13 templates will be kept under review as part of ongoing efforts to simplify resolution-related reporting. The deadline for comments is 21 November, with the proposed changes set out in the draft Bank Resolution Standards Instrument: The Technical Standards (COREP13) Instrument 2025.

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