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
7 July 2021 – DP2/21 ‘Diversity and inclusion in the financial sector – working together to drive change’
closes 30 September 2021
5 July 2021 – CP15/21 ‘Designating investment firms’
closes 5 October 2021
8 July 2021 – CP11/21 ‘Review of Solvency II: Reporting (Phase 1)’
closes 8 October 2021
28 July 2021 – CP16/21 ‘Insurance business transfers’
closes 28 October 2021
8 September 2021 – CP18/21 ‘Remuneration: Identification of material risk takers’
closes 8 November 2021
6 September 2021 – CP17/21 ‘Solvency II: Definition of an insurance holding company’
closes 6 December 2021
15 September 2021 – PS20/21 ‘Financial holding companies: Further implementation’
20 September 2021: We published version 1.3.0 of the Bank of England to support National Specific Templates (NSTs), Internal Model Outputs (IMO), Market Risk Sensitivities (MRS), and Standard Formula Reporting (SFR) reporting. Please see the Regulatory reporting – insurance sector page.
9 September 2021: ‘Letter from PRA and FCA on trade finance activity’.
6 September 2021: We published version 3.5.0 public working draft (PWD) of the Bank of England Banking taxonomy to support the collection of Leverage Ratio reporting, alongside related technical artefacts. Please see the Banks, building societies and investment firms page for more information.
3 September 2021: PRA statement on Remuneration Benchmarking and High Earners 2020 submissions. For firms that have not already done so, the PRA expects submission of these reports by Thursday 30 September 2021.
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.