Decision on Meghan Markle and Prince Harry's royal exit detailed in palace statement

The royal family has reached a decision regarding Prince Harry and Meghan Markle's exit from their roles as senior royals, with the Queen praising the arrangement as "constructive and supportive".

A statement from Buckingham Palace explains the Duke and Duchess of Sussex will step back from royal duties from Spring 2020, including military appointments, and no longer use their His/Her Royal Highness titles.

"They will no longer receive public funds for Royal duties. With The Queen's blessing, the Sussexes will continue to maintain their private patronages and associations," the statement adds.

"While they can no longer formally represent The Queen, the Sussexes have made clear that everything they do will continue to uphold the values of Her Majesty."

It is also stated Harry and Meghan wish to repay money from the Sovereign Grant that was used to pay for the refurbishment of their Windsor home, Frogmore Cottage, which will "remain their UK family home".

The palace added it "does not comment" on the details of security arrangements, adding: "There are well established independent processes to determine the need for publicly-funded security."

In an accompanying statement, Queen Elizabeth II said she was pleased a "constructive and supportive way forward" for the couple was reached.

"Harry, Meghan and Archie will always be much loved members of my family," Her Majesty said.

"I recognise the challenges they have experienced as a result of intense scrutiny over the last two years and support their wish for a more independent life."

The monarch went on to thank the Sussexes for their "dedicated work", adding she was "particularly proud" of how "Meghan has so quickly become one of the family."

"It is my whole family's hope that today's agreement allows them to start building a happy and peaceful new life," she statement concluded.

The statement, released Sunday morning Australian time, answers several of the questions that have been raised in the 10 days since the Sussexes announced their desire to quit as senior royals.

Perhaps most pertinent is the decision for the couple to relinquish their HRH titles, something royal commentator Katie Nicholl had predicted would be the most likely outcome.

"I think the matter of their HRH titles will come down to two things," Nicholl told 9Honey last week.

"One, whether the couple feel that actually, in order to achieve what they want, they have no choice but to relinquish them, and two, whether they're going to go down a commercial route in order to financially support themselves.

"They said they want to be independent financially from the Royal Family. If that entails commercial work then that might mean they have no choice."