What is the Prudential and Resolution Policy Index?
The Prudential and Resolution Policy Index provides lists of currently applicable policies relating to:
- the prudential regulation of financial services firms by the PRA and
- firms in scope of the UK resolution regime.
This is intended to help firms identify which policies are relevant for their particular areas of business. It does this by grouping policies into sectors and topic area pages.
Although this should help firms identify and navigate those policies, PRA-authorised firms and other persons to whom the policies apply should ensure that they comply with all their regulatory obligations. The Index alone should not be regarded as the source of a complete, accurate or up to date list of those obligations. In particular, users should note that the inclusion of a link to an item of legislation does not indicate that the text linked to is the up to date version of the legislation; frequently an up to date, free-to-access version of relevant legislation is not available.
Which policies are included?
The index includes policies from the following sources:
Rules made by the PRA.
A 'waiver' from a PRA rule means that the applicant does not have to comply with that rule. A 'modification' to a PRA rule enables the applicant to comply with an amended rule that better fits their own circumstances.
UK laws that relate to the prudential regulation of PRA-authorised firms and to firms in scope of the UK resolution regime, including retained EU law (eg Regulations and Technical Standards). Links are provided to the legislation.gov.uk website, which is managed by The National Archives and is free to access. However, in many cases legislation.gov.uk does not currently provide an up-to-date revised version of the relevant legislation. Where this is the case, the Index still provides a link but the version of the legislation displayed might not be up-to-date. Banner text on legislation.gov.uk indicates the status of the legislative text but this may not reflect recent changes to legislation. When the status banner contains lists of outstanding changes, the list may not be complete.
Supervisory statements set flexible frameworks for firms, incorporating new and existing expectations.
These statements detail the PRA’s policy or approach to a particular matter.
These publications detail the policy or approach to a particular matter adopted by the Bank of England acting as Resolution Authority.
Other relevant material
This includes Guidelines issued by the European Supervisory Agencies, and applicable at the end of the transition period. These should be read in conjunction with ‘Interpretation of EU Guidelines and Recommendations: Bank of England and PRA approach after the UK’s withdrawal from the EU’
When developing new policy, the PRA uses discussion papers, consultation papers and policy statements. From time to time, it also communicates relevant information to firms through letters and statements. These documents are generally not included in this Index.
The PRA Policy page provides more information on the types of PRA publications.