Prudential regulation

The Bank of England prudentially regulates and supervises financial services firms through the Prudential Regulation Authority (PRA).

Prudential regulation rules require financial firms to hold sufficient capital and have adequate risk controls in place. Close supervision of firms ensures 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.

The Prudential Regulation Authority (PRA) at the Bank of England is responsible for this prudential regulation and supervision of around 1,500 banks, building societies, credit unions, insurers and major investment firms.

Find out more about what the PRA does

Latest news and publications

23 July 2019: We published:

22 July 2019: We updated the Insurance special purpose vehicles (ISPV) webpage to include updated application forms, accompanying notes, and a new set of FAQs.  

The MoU, initially published in April 2013, which sets out the high-level framework the PRA and the FCA use to co-ordinate and co-operate in carrying out their respective responsibilities was updated to reflect the expansion of the regulators’ remit, and organisational changes since the MoU was first signed in 2013. As part of this update, the title of the MoU was also changed to reflect the PRA becoming fully integrated into the Bank, following its de-subsidisation in March 2017. 

PRA publications

Consultations papers, policy statements, supervisory statements and statements of policy can be viewed individually by following the links below. Policy statements are published on the same page as the accompanying consultation paper

This page was last updated 23 July 2019
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