Prudential Regulation Authority Annual Report 2019/20

The Bank of England and the Prudential Regulation Authority (PRA) publish their annual reports. The PRA report includes information on our activities for the year ended 29 February 2020.
Published on 18 June 2020

Robust prudential standards

Have in place robust prudential standards comprising the post-crisis regulatory regime, and hold regulated firms, and those who run them, accountable for meeting these standards

Adapt to changes in the external market

Continue to adapt to changes in the external market and to hold regulated firms, and those who run them, accountable for meeting our standards

Ensure that firms are adequately capitalised

Ensure that firms are adequately capitalised, and have sufficient liquidity, for the risks they are running or planning to take

Supervision of operational resilience

Develop our supervision of operational resilience in order to mitigate the risk of disruption to the provision of critical economic functions

Credible plans

Ensure that banks have credible plans in place to enable them to recover from financial stress events, and that we support the Bank as a resolution authority to have a credible resolution strategy to manage a firm’s failure in an orderly manner

Competition

Facilitate effective competition by actively considering the proportionality of our approach as it contributes to the safety and soundness of the UK financial system

EU withdrawal

Deliver a smooth transition to a sustainable and resilient UK financial regulatory framework following the UK’s exit from the EU

Operate effectively

Operate effectively by ensuring that resources are allocated to work that best advances our strategy and reduces the greatest risks to the delivery of our statutory objectives