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1 day ago · 1. The Bank of England (‘Bank’) uses regulatory, supervisory, and enforcement powers to pursue its mission of financial stability, and related to that, to advance the Prudential Regulation Authority’s (PRA) statutory objectives. Through regulation, the PRA develops standards and policies that set out what it requires and expects of firms.
1 day ago · The PRA only applies an O-SII buffer to all banking groups containing RFBs, within the meaning of Section 142A of the Financial Services and Markets Act 2000 (FSMA), and large building societies that hold more than £25 billion in deposits (where one or more of the account holders is a small business) and shares (excluding deferred shares).
5 days ago · In accordance with Principle 11 of the Principles for Businesses (Relations with regulators) 2 and to enable its review the PRA expects insurance firms which are considering the use of a scheme to inform the PRA in advance, in a way which allows sufficient time for the PRA to assess the proposals.
4 days ago · In the latest of our articles from our team of contributors, Pras – fresh from his seventh successive top 40k finish in FPL – discusses his Euro 2024 Fantasy Matchday 4 team. With a Wildcard still in his pocket, he also talks strategy for those without a chip remaining ahead of Saturday’s deadline. I have had quite a middling start to the ...
1 day ago · The PRA’s primary aim is to promote the safety and soundness of the firms it regulates. In doing so it recognises the importance of competition in the banking sector and, since 2013, the PRA has aimed to be proportionate in the requirements for new banks in order to facilitate greater competition, in line with the PRA’s secondary competition objective.
5 days ago · The Prudential Regulation Authority (PRA) is required to publish technical information (TI) necessary for the valuation of insurance liabilities for each relevant currency. 1 This Statement of Policy (SoP) explains how the PRA fulfils its obligations in this regard.
1 day ago · This Supervisory Statement (SS) expands on the Prudential Regulation Authority’s (PRA’s) approach to banking supervision. 1 It applies to all PRA-authorised banks and designated investment firms that are headquartered outside of the UK or are part of a group based outside of the UK. 2 In this SS, such firms are referred to as ‘international banks’.
