Contingent Liability Approval Framework — Guidance update 2026
What it examines
Explains Treasury approval, parliamentary notification and risk management for government guarantees and other contingent liabilities. The guidance distinguishes maximum exposure, expected costs and reasonable worst-case estimates. It also sets a default of delivering large, complex or high-risk guarantees through designated public financial institutions, unless Treasury agrees otherwise.
Why it matters
Provides a basis for examining who authorises public backing, how its risks are measured and how Parliament is informed. The rules include exceptions, so individual guarantees still need to be checked against their own legal and financial arrangements.
Institutions and themes
Related documents
Catalogue entry reviewed 29 Oct 2026. The summary describes the publication’s analysis; it does not establish that historical findings remain current.