Who are we?
What do we do?
Policy and tools
We are the Prudential Regulation Authority
As part of the Bank of England, we are responsible for the prudential regulation and supervision of around 1,500 banks, building societies, credit unions, insurers and major investment firms. Find out which firms we regulate.
We create policy for the firms we regulate to follow, enacted through the PRA Rulebook. Our rules require financial firms to maintain sufficient capital and have adequate risk controls in place.
We also supervise firms, to ensure that we have a comprehensive overview of their activities so that we can step in if they are not being run in a safe and sound way or, in the case of insurers, if they are not protecting policyholders adequately.
Our three objectives:
Promote the safety and soundness of the firms we regulate
Contribute to securing an appropriate degree of protection for insurance policyholders
Facilitate effective competition between firms
Latest news and publications
29 April 2021 - DP1/21 ‘A strong and simple prudential framework for non-systemic banks and building societies’
closes 9 July 2021
3 June 2021 – CP10/21 ‘Implementation of Basel standards: Non-performing loan securitisations’
closes 26 July 2021
28 May 2021 – PS9/21 ‘Ensuring operational continuity in resolution’
17 June 2021 - We published the PRA Annual Report 2020/21, covering PRA activities 1 March 2020 – 28 February 2021.
16 June 2021 - We launched the Review of Solvency II: Quantitative Impact Study (QIS) page, setting out information regarding our upcoming QIS which will support the review of Solvency II.
24 May 2021 - We published the PRA Business Plan 2021/22, setting out the PRA’s strategy, workplan, and budget for the coming year.
16 February 2021 - Virtual Meetings with the PRA’s Senior Advisors
5 February 2021 - PRA statement on Covid-19 regulatory reporting amendments
More PRA publications
Subject to any transitional relief, PRA supervisory statements and PRA statements of policy applicable before 11pm Thursday 31 December 2020 should be read in conjunction with Supervisory Statement (SS) 1/19. This sets out how we expect firms to interpret EU-based references in non-binding PRA regulatory and supervisory materials after the UK’s withdrawal from the EU and the end of the transition period.
Information on other PRA publications can be found using the link below.
For a more in-depth look at our key regulatory news and publications for month, read our latest Regulatory Digest.
Our latest reports
Our annual report sets out our work on our strategic goals and statutory obligations and our business plan sets out our strategy, workplan and budget.