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
6 September 2021 – CP17/21 ‘Solvency II: Definition of an insurance holding company’
Closes 6 December 2021
25 November 2021 – CP21/21 ‘Operational Resilience and Operational Continuity in Resolution: CRR firms, Solvency II firms, and Financial Holding Companies (for Operational Resilience)’
Closes 14 January 2022
8 October 2021 – CP20/21 ‘Trading activity wind-down’
Closes 21 January 2022
29 November 2021 – DP3/21 ‘The PRA Rulebook website: Planned updates’
Closes 28 February 2022
15 November 2021 – PS26/21 ‘Domestic Liquidity Sub-Groups’
8 November 2021 – PS25/21 – Responses to CP13/21 ‘Occasional Consultation Paper’
14 October 2021 – PS22/21 ‘Implementation of Basel standards’
3 December 2021: We are pleased to open the nomination process for becoming a member of the Climate Financial Risk Forum for session 3. The deadline for applying is Friday 17 December and more information can be found on the Climate Financial Risk Forum page.
30 November 2021: We published a direction for modification by consent for pure reinsurance branches. See the ‘Available waivers and modifications by consent’ section at the bottom of Waivers and modification of rules.
4 November 2021: We published two amended remuneration policy statement (RPS) tables for level one firms, and for level two and three firms. These can be found underneath on the Strengthening accountability page.
1 November 2021: Jointly with the Bank of England, Financial Conduct Authority, Competition & Markets Authority, Payment Systems Regulator, Information Commissioner’s Office, The Pensions Regulator, and HM Treasury (as observer member), we published the fourth edition of the Regulatory Initiatives Forum’s grid – a consolidated plan which aims to give firms a clear idea of upcoming regulatory work.
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.