Deloitte comments on the PRA’s policy statement on ‘Ensuring operational continuity in resolution’ has been saved
Deloitte comments on the PRA’s policy statement on ‘Ensuring operational continuity in resolution’
07 July 2016
Simon Zeital, Deloitte structural reform partner, said:
“The PRA underlines the importance of translating the theory of bank resolution into practice.
“Maintaining the continuity of services - by ensuring that banks have sufficient financial resources and robust governance arrangements - is a crucial step in limiting the effects of bank failure. If banks cannot demonstrate how their most important services will be kept running in a crisis, they may be pushed to carry out further costly restructurings.
“The past two weeks have demonstrated the importance of regulatory efforts in increasing resilience in our banking system. It is clear that there will be no compromise on the UK’s progress with resolution planning even as banks begin to navigate the implications of the UK’s departure from the European Union.”
Notes to editors
In this press release references to Deloitte are references to Deloitte LLP, which is among the country's leading professional services firms.
Deloitte LLP is the United Kingdom member firm of Deloitte Touche Tohmatsu Limited (“DTTL”), a UK private company limited by guarantee, whose member firms are legally separate and independent entities. Please see www.deloitte.co.uk/about for a detailed description of the legal structure of DTTL and its member firms.
Member of Deloitte Touche Tohmatsu Limited.