Prudential Regulation Authority: Difference between revisions
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The PRA’s primary objectives include: | The PRA’s primary objectives include: | ||
*To promote the safety and soundness of these firms; and | |||
*Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders. | |||
The PRA has a secondary objective of facilitating | The PRA has a secondary objective of facilitating: | ||
*Effective competition in the markets served by these firms; and | |||
*The international competitiveness of the UK economy and the financial services sector in particular. | |||
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== See also == | == See also == | ||
* [[Australian Financial Regulation]] | |||
* [[Bank]] | * [[Bank]] | ||
* [[Bank of England]] | |||
* [[Bank supervision]] | * [[Bank supervision]] | ||
* [[Broker-dealer]] | * [[Broker-dealer]] | ||
* [[Building society]] | * [[Building society]] | ||
* [[CFTC]] | * [[Commodity Futures Trading Commission]] (CFTC) | ||
* [[Competition & Markets Authority]] | |||
* [[Conduct]] | |||
* [[Confidence]] | |||
* [[Credit union]] | * [[Credit union]] | ||
* [[Designated investment firm]] | * [[Designated investment firm]] | ||
* [[European Banking Authority]] | |||
* [[Federal Reserve]] | |||
* [[Financial Conduct Authority]] | |||
* [[Financial Services Authority]] | * [[Financial Services Authority]] | ||
* [[Financial stability]] | * [[Financial stability]] | ||
* [[Insurer]] | * [[Insurer]] | ||
* [[Leverage]] | * [[Leverage]] | ||
* [[Liquidity risk]] | * [[Liquidity risk]] | ||
* [[PRA Supervisory Statement 1/21 (SS1/21)]] | |||
* [[Prudential]] | * [[Prudential]] | ||
* [[Prudential Regulation Committee]] | |||
* [[Regulation]] | |||
* [[Supervision]] | |||
* [[Twin Peaks]] | * [[Twin Peaks]] | ||
== External link == | |||
[https://www.bankofengland.co.uk/prudential-regulation Bank of England webpage: prudential regulation] | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:Compliance_and_audit]] | |||
[[Category:Long_term_funding]] | |||
Latest revision as of 20:03, 26 July 2024
(PRA).
The UK body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.
The PRA’s primary objectives include:
- To promote the safety and soundness of these firms; and
- Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders.
The PRA has a secondary objective of facilitating:
- Effective competition in the markets served by these firms; and
- The international competitiveness of the UK economy and the financial services sector in particular.
The PRA's responsibilities in the UK were formerly undertaken by the Financial Services Authority (FSA).
The former FSA's other responsibilities were substantially transferred to the Financial Conduct Authority (FCA).
The PRA is part of the Bank of England.
See also
- Australian Financial Regulation
- Bank
- Bank of England
- Bank supervision
- Broker-dealer
- Building society
- Commodity Futures Trading Commission (CFTC)
- Competition & Markets Authority
- Conduct
- Confidence
- Credit union
- Designated investment firm
- European Banking Authority
- Federal Reserve
- Financial Conduct Authority
- Financial Services Authority
- Financial stability
- Insurer
- Leverage
- Liquidity risk
- PRA Supervisory Statement 1/21 (SS1/21)
- Prudential
- Prudential Regulation Committee
- Regulation
- Supervision
- Twin Peaks
