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

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.

PRA Regulatory Digest

The PRA Regulatory Digest is for people working in the UK financial services industry and highlights key regulatory news and publications delivered for the month.

Latest PRA Regulatory Digest

Latest prudential regulation news and publications

3 August 2018: The Bank of England published a news release 'Appointment of members of the Enforcement Decision Making Committee', and its final Policy Statement ‘Enforcement Decision Making Committee’ which includes ‘Procedures – The Enforcement Decision Making Committee’, and an update to ‘The Prudential Regulation Authority’s approach to enforcement: statutory statements of policy and procedure’.

27 July 2018: We published a modification by consent of the Solvency II Group Supervision rules 20.1 and 20.2 with reference to US-parented undertakings. Please see ‘Available waivers and modifications of rules’ on the Waivers and modifications of rules page.

26 July 2018: We published Policy Statement 21/18 ‘Solvency II: Changes to reporting format’ relevant to all UK Solvency II firms, and the Society of Lloyd’s and its managing agents. This includes amendments to the Reporting Part of the PRA Rulebook, and updates to: 

The changes to the reporting format will be effective for submissions of year-end 2018 information, from Monday 31 December 2018 onwards. For further information and materials, see the Regulatory reporting – insurance sector webpage.

24 July 2018: The Bank issued a news release ‘Temporary permissions and recognition regimes’. This is relevant to all PRA-regulated firms.

This page was last updated 07 August 2018
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