Prudential regulation

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

22 March 2019: The supplementary PRA Direction: Temporary permission and variation: notification before exit day published on the Temporary permissions regime (TPR) webpage clarifies the position where a firm that has submitted a notification to enter the TPR wants to withdraw its notification before exit day.

20 March 2019: We published a news release: 'PRA and FCA agree Memorandum of Understanding with EBA'.

19 March 2019: We published Consultation Paper (CP) 6/19 ‘Pillar 2 liquidity: updates to the framework’. The CP is relevant to UK banks, building societies, PRA-designated investment firms and non-EU EEA banks. This consultation closes on Friday 19 April 2019. We also published version 4 of the PRA110 Q&As. See Regulatory reporting – banking sector page for more information.

14 March 2019: We published an update on the EU withdrawal webpage aimed at firms looking to use the Part VII of the Financial Services and Markets Act (FSMA) insurance business transfers: Saving Provisions available in the Financial Services (Miscellaneous) (Amendment) (EU Exit) Regulations 2019. Any insurers with EEA business contemplating undertaking a Part VII and whose transfer is not already underway, should make immediate contact with their PRA supervisory contact, or email the PRA Part VII Transfers team at Portfolio.Transfers@bankofengland.co.uk.

14 March 2019: We published Policy Statement 9/19 ‘Solvency II: Group own fund availability’, and an updated Supervisory Statement 9/15 ‘Solvency II: Group supervision’.

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. 

• Consultation papers and Policy statements
• Supervisory statements
• Statements of policy
• Prudential regulation news releases and speeches
• Statements and reports
• Letters
• PRA Regulatory Digest