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

19 September 2019: We and the Financial Services Compensation Scheme (FSCS) have published an updated Memorandum of Understanding (MoU) between the FSCS and Bank of England (Bank) (exercising its prudential regulation functions)

The MoU sets out the high-level framework the PRA and the FSCS use to co-ordinate and co-operate in carrying out their respective responsibilities. The MoU has been updated to reflect some minor changes to certain legislative functions and other organisational changes. As part of this recent 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. 

13 September 2019: We published a new waiver by consent to waive the Continuity of Access requirements contained in the Depositor Protection Part of the PRA Rulebook. More information is available on the Authorisations – Waivers and modifications of rules page.

2 September 2019: To see all communications published within August 2019, please see the PRA Regulatory Digest.

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 18 September 2019
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