Prudential Regulation Committee
E96663
The Prudential Regulation Committee is a Bank of England body responsible for setting and overseeing prudential regulation of banks, insurers, and major investment firms in the UK to ensure their safety and soundness.
Statements (46)
| Predicate | Object |
|---|---|
| instanceOf |
Bank of England body
ⓘ
regulatory committee ⓘ |
| aimsTo |
minimise the impact of firm failure on the financial system
ⓘ
protect policyholders in insurance firms ⓘ |
| coordinatesWith | Financial Conduct Authority ⓘ |
| country | United Kingdom ⓘ |
| dateFormed | 2013 ⓘ |
| decisionMakingProcess | collective decision-making ⓘ |
| formedFrom |
Court of Directors
ⓘ
surface form:
Court of Directors of the Bank of England (prudential functions)
|
| governs |
prudential framework for UK deposit-takers
ⓘ
prudential framework for UK insurers ⓘ |
| hasAuthorityOver |
UK-incorporated banks
ⓘ
building societies ⓘ credit unions ⓘ major UK insurance firms ⓘ systemically important investment firms ⓘ |
| hasLegalBasisIn |
Bank of England Act 1998 (as amended)
NERFINISHED
ⓘ
Financial Services Act 2012 NERFINISHED ⓘ |
| headquarters | Bank of England, London NERFINISHED ⓘ |
| jurisdiction | United Kingdom ⓘ |
| location |
London, England
ⓘ
surface form:
London
|
| meetingFrequency | regularly ⓘ |
| objective |
to ensure the soundness of individual financial institutions
ⓘ
to reduce risks to the stability of the UK financial system ⓘ |
| oversees | Prudential Regulation Authority ⓘ |
| parentOrganization | Bank of England NERFINISHED ⓘ |
| partOf | Bank of England NERFINISHED ⓘ |
| publishes |
prudential policy statements
ⓘ
supervisory statements ⓘ |
| purpose |
to contribute to the stability of the UK financial system
ⓘ
to promote the safety and soundness of regulated firms ⓘ |
| regulates |
banks
ⓘ
insurers ⓘ major investment firms ⓘ |
| regulatoryApproach | risk-based supervision ⓘ |
| regulatoryScope | prudential regulation ⓘ |
| reportsTo |
Court of Directors
ⓘ
surface form:
Court of Directors of the Bank of England
|
| responsibleFor |
overseeing prudential supervision of regulated firms
ⓘ
setting prudential policy for regulated firms ⓘ |
| sector | financial regulation ⓘ |
| setsRequirementsOn |
capital adequacy
ⓘ
governance and risk management ⓘ liquidity standards ⓘ |
| typeOfRegulation | microprudential regulation ⓘ |
| worksWith |
Financial Policy Committee
ⓘ
Monetary Policy Committee NERFINISHED ⓘ |
Referenced by (3)
Full triples — surface form annotated when it differs from this entity's canonical label.