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
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31 March 2022 – DP1/22 – The prudential liquidity framework: Supporting liquid asset usability
Closes 30 June 202228 April 2022 – DP2/22 'Potential Reforms to Risk Margin and Matching Adjustment within Solvency II’
Closes 21 July 202229 April 2022 – CP5/22 'The Strong and Simple Framework: a definition of a Simpler-regime Firm'
Closes 22 July 202221 June 2022 – CP6/22 ‘Model risk management principles for banks’
Closes 21 October 2022 -
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28 June 2022: Letter from Duncan Mackinnon, David Bailey, and Nathanaël Benjamin ‘PRA’s review of the use of the SIMM Model: Conclusions’
27 June 2022: We published a letter to firms on the ‘Fundamental Review of the Trading Book (FRTB): Timetable for submission of internal model/standard approach pre-applications.’
23 June 2022: We published the PRA Annual Report 2022 which includes information about our activities for the year ended 28 February 2022 and also contains the:
- the Annual Competition Report
- the Ring Fencing Annual Report;
- the Authorisations Performance Report;
- the Prescribed Persons (Reports on Disclosures of Information) Regulations 2017 – Annual Report;
- the Practitioner Panel Annual Report; and
- the Enforcement Decision Making Committee Report
To find out more, please visit the PRA Annual Report 2022 page.
You may also wish to refer to the Bank of England Annual Report and Accounts 2022 - also published today - which contains the Bank’s financial and other disclosures in respect of its activities as the PRA.
23 June 2022: The Financial Conduct Authority (FCA) published a statement on the plan to move to seven-digit FRNs and PRNs for newly registered firms and funds.
13 June 2022: We published a statement on removing the PRA buffer adjustment in PS15/20.
10 June 2022: The Bank published the findings from its first assessment of the resolvability of the major eight UK firms as part of the Resolvability Assessment Framework. In parallel, the major eight UK firms also published their own public disclosures on their preparations for resolution.
27 May 2022: The Climate Financial Risk Forum (CFRF) published the minutes from the first meeting of the CFRF’s third session. The Forum agreed to the Terms of Reference for Session 3 (revised to reflect the new Forum membership and technical working groups).
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.
Prudential regulation news and publications
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