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

8 October 2019: HM Treasury published a letter from Lyndon Nelson, Deputy CEO, and Executive Director Supervisory Risk Specialists and Regulatory Operations, to the Chair of the Treasury Select Committee, regarding IT failures in the financial services sector.

2 October 2019: We published a letter ‘Written auditor reporting – thematic feedback from the 2018/2019 reporting period’ from Victoria Saporta, Executive Director of Prudential Policy sent to Chief Financial Officers of selected deposit-takers.

1 October 2019: To see all communications published within September 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 10 October 2019
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