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1. www.bankofengland.co.uk › - › mediaThe Prudential Regulation Authority s approach to banking ...

   www.bankofengland.co.uk › - › media

   The PRA is proactive in its approach to the secondary competitiveness and growth objective and looks for opportunities to advance it. PRA rule making can (i) harness the UK’s strengths as a global financial centre; (ii) maintain trust in the UK as a place to do business; and (ii) tailor regulations to UK circumstances.

2. insights.starlingtrust.com › content › observationsThe PRA's Supervisory Approach | Starling Insights

   insights.starlingtrust.com › content › observations

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   ICYMI: In July, the UK Prudential Regulation Authority (PRA) published a document outlining its approach to supervision. Therein, the PRA emphasizes governance and culture as key supervisory concerns.

3. www.bankofengland.co.uk › prudential-regulationPRA’s approach to supervision of the banking and insurance ...

   www.bankofengland.co.uk › prudential-regulation

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   Our approach documents set out how we carry out our role in practice. They are designed to help regulated firms and the market understand how we supervises these institutions, and to aid accountability to the public and Parliament.

4. www.bankofengland.co.uk › - › mediaPrudential Regulation Authority - Bank of England

   www.bankofengland.co.uk › - › media

   The PRA’s approach to regulation and supervision is forward-looking, judgement-based, and focused on the issues and firms that pose the greatest risk to the stability of the UK financial system and (in the case of insurers) to policyholders.

5. www.prarulebook.co.uk › guidance › statements-ofCulture and the PRA’s approach to supervision | Prudential ...

   www.prarulebook.co.uk › guidance › statements-of

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   Aug 1, 2024 · The PRA seeks to address serious failings in the culture of firms as part of its approach to supervision.

6. www.prarulebook.co.uk › guidance › supervisorySS3/21 – Non-systemic UK banks: The Prudential Regulation ...

   www.prarulebook.co.uk › guidance › supervisory

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   Jun 10, 2024 · The PRA’s approach to new and growing bank supervision aims to facilitate competition, in support of its secondary competition objective. Competitive markets involve firms being able to enter and exit.

7. People also ask

   What is Pra rule making?

   • The PRA is proactive in its approach to the secondary competitiveness and growth objective and looks for opportunities to advance it. PRA rule making can (i) harness the UK’s strengths as a global financial centre; (ii) maintain trust in the UK as a place to do business; and (ii) tailor regulations to UK circumstances.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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   What is the Prudential Regulation Authority (PRA)?

   • We, the Prudential Regulation Authority (PRA), as part of the Bank of England (the Bank), are the UK’s prudential regulator for deposit-takers, insurance companies, and designated investment firms.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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   What is a PRA & a control framework?

   • The PRA is aware of the need to be proportionate, and smaller firms should determine how these capabilities might map to the nature, scale, and complexity of their business. 65. A firm’s control framework encompasses the processes, delegated authorities and limits that put into effect a firm’s approach to risk management and control.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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   What changes have been made to Pra?

   • The key changes are outlined below. New foreword from Sam Woods, PRA CEO and Deputy Governor for Prudential Regulation at the Bank (pages 3-4). Removal of text regarding the UK’s withdrawal from the EU following transition to a steady state relationship with the EU post-withdrawal.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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   What is a PRA & why is it important?

   • The PRA has two primary objectives: a general objective to promote the safety and soundness of the firms it regulates, focusing on the adverse effects that they can have on the stability of the UK financial system; and an objective specific to insurance firms, to contribute to securing an appropriate degree of protection for policyholders.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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   What is the PRA's focus on operational resilience?

   • The PRA’s primary focus for operational resilience is on firms delivering the important business services that their customers and the wider economy rely upon. As part of this, we expect firms to develop impact tolerances that acknowledge that disruptive events will happen.

   The Prudential Regulation Authority s approach to banking supervision

   www.bankofengland.co.uk/-/media/boe/files/prudential-regulation/approach/banking-approach-2023.pdf

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8. edu.bankofengland.co.uk › - › mediaThe PRA's approach to banking supervision

   edu.bankofengland.co.uk › - › media

   The Prudential Regulation Authority (PRA), as part of the Bank of England, is the United Kingdom’s prudential regulator for deposit-takers, insurance companies and designated investment firms. This paper sets out how the PRA carries out its role in respect of deposit-takers and investment firms.