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  1. Apr 11, 2024 · The PRA’s approach to 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 policyholders. This approach is set out in the PRA’s approach to supervision of the banking and insurance sectors.

    • Supervision

      Our approach documents set out how we carry out our role in...

    • Policy

      We expect firms to engage directly with policy materials,...

    • Regulating Smaller Firms
    • Our Approach to Supervising Smaller Firms
    • Contacts For Smaller Firms

    We take a different approach to supervising the smaller firms that we regulate, due to their limited potential to cause harm to the financial system. Credit unions, small overseas banks, small overseas insurers and mutual insurers are our lowest category of potential impact. At an individual level, these firms have little capacity to cause signific...

    Our supervisory approach for smaller firms includes: 1. supervising firms on a portfolio basis using automated tools to analyse your regulatory returns 2. examining individual firms when a risk crystallises (as discovered through, for example, a visit to the firm, or an approach from the firm itself), or in response to authorisation requests from t...

    These firms do not have a named supervisor. Instead, they should contact our Firm Enquiries Team at PRA.FirmEnquiries@bankofengland.co.ukor by phone on +44 (0)20 3461 7000.

  2. Jan 11, 2024 · The PRA’s supervisory agenda remains extremely busy, reflecting the range of risks the banking sector currently faces. Macroeconomic conditions and heightened geopolitical tensions mean the PRA is focused on firms’ capital and liquidity positions, risk management practices, and governance controls.

  3. www.bankofengland.co.uk › prudential-regulation › policyPolicy - Bank of England

    Sep 12, 2024 · We expect firms to engage directly with policy materials, including rules in the PRA Rulebook, supervisory statements and EU materials, and determine - bearing in mind the overarching principle of safety and soundness - whether they are meeting the expectations set out in them.

  4. The business plan sets out the PRA’s strategic objectives for the year and provides an update on a number of ongoing regulatory and supervisory priorities, including Basel 3.1, the strong and simple regime, operational resilience, stress testing and climate risk.

  5. We are publishing this now, for three main reasons: First, to set out our approach to host supervision in a holistic way. We published our approach to branches in 2018 but this publication goes further and covers the full range of authorisation options available to international banks.

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  7. Oct 15, 2024 · The Bank of England prudentially regulates and supervises financial services firms through the Prudential Regulation Authority (PRA). In this section. What is the PRA? Which firms does the PRA regulate? Our Business Plan, goals and objectives. Our secondary objectives. Our statutory and enforcement powers. Key regulatory communications.

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