HMT publishes revised MoU on financial crisis management

HM Treasury (HMT) has published a revised Memorandum of Understanding (MoU) with the Bank of England (BoE) and UK Prudential Regulation Authority (PRA) on financial crisis management, replacing the previous version from October 2017. The MoU sets out the coordinated responsibilities of HMT, the BoE and the PRA, under the Banking Act 2009, the Financial Services Act 2012 and the Financial Services and Markets Act 2023 (FSMA 2023). The MoU has been updated to align with key developments since 2017.

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