In June 2023, the Bank of England published a consultation outlining proposed amendments to the PRA Rules for non-systemic banks and building societies in the UK to prepare, as part of their business-as-usual (BAU) activities, for an orderly ‘solvent exit’; and if needed, to be able to execute one.

The BSA have now responded to this consultation paper, and you can find our response here. 

The BSA welcomes the intentions of the Bank of England to minimise the chance of firms disorderly exiting from the market. We see that some disorderly exits have caused unnecessary damage in recent times and that this is right to try to curtail this, but we believe there are a number of issues and areas for improvement within the proposed amendments to the PRA Rulebook, and the Supervisory Statement.