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
28 July 2021 – CP16/21 ‘Insurance business transfers’
closes 28 October 2021
8 September 2021 – CP18/21 ‘Remuneration: Identification of material risk takers’
closes 8 November 2021
6 September 2021 – CP17/21 ‘Solvency II: Definition of an insurance holding company’
closes 6 December 2021
8 October 2021 – CP20/21 ‘Trading activity wind-down’
Closes 21 January 2022
14 October 2021 – PS22/21 ‘Implementation of Basel standards’
8 October 2021 – PS21/21 ‘The UK leverage ratio framework’
8 October 2021: PRA statement on freezing O-SII buffer rates for a further year
30 September 2021: Letter from the Bank, PRA, and FCA ‘2021 CBEST thematic findings’
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.