On 1 September 2025, HM Treasury published a memorandum of understanding (MoU) agreed with the Bank of England (BoE) and Prudential Regulation Authority (PRA) on resolution planning and financial crisis management. This replaces the previous MoU adopted in October 2017.
The MoU outlines the framework for coordination, cooperation, and engagement in relation to the management of potential financial crises, including setting out the responsibilities of HM Treasury, the BOE and the PRA, along with further information on resolution policy and planning.