CRR Article 400(2)(c) - Resolution exemption


Firms that exclude exposures pursuant to the resolution exemption in the Large Exposures Part of the PRA Rulebook should notify the PRA if those exposures are not included in MREL reporting as specified in Supervisory Statement (SS) 19/13 ‘Resolution planning’.5   


When assessing whether exposures are resolution exposures as defined in the Large Exposures Part of the PRA Rulebook, a firm should give due consideration to whether resolution liabilities have been recognised by relevant  resolution authorities. 


Firms should contact their supervisor where they have exposures to liabilities that are recognised by the relevant resolution authorities but do not meet the criteria in the PRA rules to qualify for a resolution exemption.