Budget and Prudential Regulation Authority: Difference between pages

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1.
The UK body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.  


Any plan expressed in monetary terms.


The PRA’s objectives are:


2.
1. To promote the safety and soundness of these firms; and


The level of taxation minus government spending.  
2. Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders.


A budget surplus is where taxation exceeds government spending.


A budget deficit is where government spending exceeds taxation.
The PRA's responsibilities in the UK were formerly undertaken by the Financial Services Authority (FSA).
 
 
3.'' UK.''
 
A formal statement - normally made annually - by the UK Chancellor of the Exchequer setting out the government's taxation proposals for the next fiscal year.
 
 
4.
 
Similar formal statements made by the finance ministers of other governments, or by the responsible officers of other organisations.


The former FSA's other responsibilities were substantially transferred to the Financial Conduct Authority (FCA).


== See also ==
== See also ==
* [[Finance Act]]
* [[Financial Services Authority]]
* [[Fiscal year]]
* [[Financial Conduct Authority]]
* [[Risk budget]]
* [[CFTC]]
* [[Variance analysis]]
* [[Zero based budgeting]]
 
[[Category:Accounting,_tax_and_regulation]]
[[Category:Compliance_and_audit]]

Revision as of 16:37, 11 April 2013

The UK body responsible for the prudential regulation and supervision of banks, building societies, credit unions, insurers and major investment firms.


The PRA’s objectives are:

1. To promote the safety and soundness of these firms; and

2. Specifically for insurers, to contribute to the securing of an appropriate degree of protection for policyholders.


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).

See also