Due to the replanning required as a result of the election, it has been announced that the Forum will not be able to provide a complete Grid this year.  The Forum has instead provided an interim update which covers known upcoming publications impacting firms in the period from October 2024-March 2025 and which is intended to support impacted firms and stakeholders in their planning during the post-election period before the Forum returns to the next full Grid publication in due course.  Not all items from the previous Grid are included in this interim update.  This is either due to uncertainty about timing or because they fall outside the covered period.  The Grid is only available as a searchable spread­sheet.

The consultation brings together proposals relating to the BoE’s statement of policy on its approach to setting a minimum requirement for own funds and eligible liabilities, including changes relating to CRR TLAC provisions, updates to BoE’s indicative thresholds for setting a stabilisation power preferred resolution strategy; and revisions to reflect findings from the second assessment of the Bank’s Resolvability Assessment Framework for major UK firms.  Responses are required by 15 January 2025.  HMT has also published a written ministerial statement welcoming the BoE MREL consultation which sets out its expectations in relation to the interaction between the policy in the consultation and the Bank Resolution (Re­cap­it­al­isa­tion) Bill.

The Government has published a new chapter of the code of practice in draft, following the introduction of the Bank Resolution (Re­cap­it­al­isa­tion) Bill in Parliament. The chapter sets out in draft details of the recapitalisation payment mechanism introduced by the Bill.  This draft chapter may change, including as a result of any amendments made to the Bill during the parliamentary process and engagement with the Banking Liaison Panel. The Government intends to issue a finalised version of the Code in full when the Bill comes into force.

HoC has published the text of a written statement made on 14 October 2024 by Tulip Siddiq, in which she confirms that the Government will implement a package of reforms following the Skeoch Review as soon as parliamentary time al­lows.

The CP sets out PRA’s proposals to restate the relevant provisions in the assimilated CRR in the PRA Rulebook and other policy material including supervisory statements and statements of policy.  PRA also proposes to update the credit ratings mapping tables in some assimilated technical standards and to restate them in the PRA Rulebook.  Responses are required by 15 January 2025.