We are the Prudential Regulation Authority
As part of the Bank of England, we are responsible for the prudential regulation and supervision of around 1,330 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 four 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
Facilitate the international competitiveness of the UK economy (in particular the financial services sector) and its growth in the medium to long term
Latest news and publications
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19 December 2023 – CP28/23 – Leverage ratio treatment of omnibus account reserves and minor amendments to the leverage ratio framework
Closes Monday 8 April 202423 January 2024 – CP2/24 – Solvent exit planning for insurers
Closes Friday 26 April 202431 January 2024 – CP3/24 – The Prudential Regulation Authority’s approach to rule permissions and waivers
Closes 30 April 202411 April 2024 – CP4/24 – Regulated fees and levies: Rates proposals for 2024/25
Closes 10 May 202428 March 2024 – CP – The Bank of England’s approach to enforcement: proposed changes to statements of policy and procedure following the Financial Services and Markets Act 2023
Closes Friday 28 June 2024 -
28 March 2024 – PS6/24 – Financial Services Compensation Scheme – Management Expenses Levy Limit (MELL) 2024/25
12 March 2024 – PS5/24 – Solvent exit planning for non-systemic banks and building societies
29 February 2024 – PS3/24 – Review of Solvency II: Reporting and disclosure phase 2 near-final
28 February 2024 – PS2/24 – Review of Solvency II: Adapting to the UK insurance market
22 February 2024 – PS4/24 – PRA statement on the review of rules
30 January 2024 – PS1/24 – The Bank of England’s approach to enforcement
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15 April 2024: We published a Solvency II Review – Matching adjustment reform implementation considerations for 30 June 2024
11 April 2024: We published the PRA Business Plan 2024/25, setting out the workplan for each of the PRA’s strategic priorities, together with an overview of the PRA’s budget for 2024/25.
25 January 2024: We published a Review of ring-fencing rules
11 January 2024: We published a letter from Charlotte Gerken and Shoib Khan on the PRA’s 2024 priorities for insurance supervision, a letter from Rebecca Jackson on the PRA’s 2024 priorities for international banks, and a letter from David Bailey and Laura Wallis on the PRA’s 2024 priorities for UK deposit takers.
11 December 2023: We published a letter on our recent thematic review across a sample of general insurance firms with an approved internal model.
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
This page was last updated 15 April 2024