Prudential Regulation Authority

E19441

financial regulatory authority prudential regulator

The Prudential Regulation Authority is the United Kingdom’s financial regulator responsible for overseeing the safety and soundness of banks, insurers, and major investment firms.

Statements (47)

Predicate	Object
instanceOf	financial regulatory authority → prudential regulator →
cooperatesWith	Financial Conduct Authority →
coRegulatorWith	Financial Conduct Authority →
country	United Kingdom →
establishedAs	subsidiary of the Bank of England →
followsStandards	Basel Committee on Banking Supervision standards → International Association of Insurance Supervisors standards →
goal	ensure firms have adequate capital → ensure firms have adequate liquidity → minimise adverse effects of firm failure on the financial system →
headquartersCountry	United Kingdom →
headquartersLocation	London →
issues	policy statements → prudential rules → supervisory statements →
jurisdiction	United Kingdom →
legalBasis	Bank of England Act 1998 (as amended) → Financial Services Act 2012 →
monitors	capital adequacy of regulated firms → governance and risk management of regulated firms → liquidity positions of regulated firms →
parentOrganization	Bank of England →
partOf	Bank of England →
precededBy	Financial Services Authority →
regulates	banks → building societies → credit unions → insurers → major investment firms →
regulatoryFocus	safety and soundness of firms →
regulatoryObjective	contribute to the stability of the UK financial system → promote the safety and soundness of regulated firms →
responsibility	prudential regulation of deposit-takers → prudential regulation of insurers → prudential regulation of significant investment firms →
restructuredAs	integrated part of the Bank of England →
sector	financial regulation →
supervises	systemically important financial institutions in the UK →
supervisoryApproach	judgement-based supervision → risk-based supervision →
typeOfRegulation	microprudential regulation →
usesFramework	Pillar 1 capital requirements → Pillar 2 capital requirements → Solvency II for insurers →
worksWith	HM Treasury → international standard-setting bodies →

Referenced by (12)

Subject (surface form when different)	Predicate
Bank of Scotland → Barclays → Clydesdale Bank → Lloyds Banking Group → Principality Building Society → Virgin Money →	regulator
Governor of the Bank of England → Prudential Regulation Committee →	oversees
Financial Conduct Authority →	cooperatesWith
Financial Services Act 2012 →	createdBody
Bank of England →	hasDivision
HM Treasury Select Committee →	scrutinises