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
12 January 2022 - CP1/22 ‘Financial Services Compensation Scheme – Management Expenses Levy Limit 2022/23’
Closes 14 February 2022
29 November 2021 – DP3/21 ‘The PRA Rulebook website: Planned updates’
Closes 28 February 2022
12 January 2022 – PS1/22 ‘Insurance business transfers’
17 December 2021 - PS29/21 ‘Review of Solvency II: Reporting (Phase 1)
17 December 2021 – PS28/21 ‘Remuneration: Identification of material risk takers’
15 December 2021 – PS27/21 ‘Designating investment firms’
20 January 2022: We published a letter on the Insurance Stress Test 2022, requesting technical input by Thursday 17 March 2022.
12 January 2022: We published a letter from Anna Sweeney and Charlotte Gerken on the PRA’s 2022 priorities for insurance supervision; Nathanael Benjamin and Rebecca Jackson on the PRA’s 2022 priorities for international banks; and a letter from David Bailey and Melanie Beaman on the PRA’s 2022 priorities for UK deposit takers.
21 December 2021: We disclosed the 2021 list of UK headquartered Global Systemically Important Institutions (G-SIIs). For more information please see the latest updates from Capital Requirements Directive.
20 December 2021: The Climate Financial Risk Forum (CFRF) published the minutes from its eighth meeting, discussing the future strategy for the CFRF in the next phase of work (Session 3).
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.