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
21 June 2021 - CP12/21 ‘Financial holding companies: Further implementation’
closes 22 July 2021
3 June 2021 – CP10/21 ‘Implementation of Basel standards: Non-performing loan securitisations’
closes 26 July 2021
29 June 2021 – FPC CP and PRA CP14/21 ‘Consultations by the FPC and PRA on changes to the UK leverage ratio framework’
closes 24 August 2021
25 June 2021 – CP13/21 ‘Occasional Consultation Paper – June 2021’
closes 25 August 2021
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
9 July 2021 – PS17/21 ‘Implementation of Basel standards’
6 July 2021 – PS15/21 ‘Regulated fees and levies: Rates for 2021/22’
20 July 2021 - We published a letter from Charlotte Gerken ‘Gathering data for the Solvency II Review’, and updated our Review of Solvency II: Quantitative Impact Survey (QIS) page, announcing its launch and providing more information to firms.
17 June 2021 - We published the PRA Annual Report 2020/21, covering PRA activities 1 March 2020 – 28 February 2021.
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.