It will be a part of the Bank of England. Its physical location will be important in linking prudential supervision of individual financial institutions (the responsibility of the PRA) to the monetary policy, market operations and financial stability functions of the Bank, including the Special Resolution Unit and the macro-prudential regulation of the financial system as a whole. The benefits to be gained from strong links between these functions mean that locating PRA staff close to the rest of the Bank is highly desirable.
Published on
30 April 2012
Press release