Quarterly Bulletin - 2019 Q3

Our Quarterly Bulletin explores topics on monetary and financial stability and includes regular commentary on market developments and UK monetary policy operations.
Published on 20 September 2019

Topical article

How banks are authorised in the UK

In the UK, responsibility for authorising new banks is split between the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). This article looks at the authorisation process for banks in the UK. It explains the roles and responsibilities of regulators in authorising banks and outlines the process that a firm goes through when it wants to set up a bank. Forty-six new banks have been authorised by the PRA and the FCA since April 2013.

How banks are authorised in the UK

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