Correspondence

Recommendations for the Prudential Regulation Committee: April 2022

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England providing recommendations for the Prudential Regulation Committee (PRC).

From:
HM Treasury and 皇冠体育app Rt Hon Rishi Sunak MP
Published
7 April 2022
This was published under the 2019 to 2022 Johnson Conservative government

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PDF, 174 KB, 6 pages

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Details

皇冠体育app PRC is responsible for the exercise of the Bank of England鈥檚 functions as the Prudential Regulation Authority (PRA). 皇冠体育app PRA is the UK鈥檚 microprudential regulator for deposit-taking firms, insurers and systemically important investment firms. 皇冠体育app PRA is responsible for ensuring that firms it regulates are properly managing their capital and liquidity positions.

皇冠体育app Bank of England Act 1998 allows the Treasury to make recommendations to the PRC about aspects of the economic policy of the government to which the PRC should have regard when advancing the objectives and discharging the duties of the PRA.

This letter provides such recommendations. It should be read in conjunction with the letter sent to the Governor of the Bank of England on 23 March 2021 as the recommendations in this letter are intended to supplement rather than replace the recommendations made in the 2021 letter.

Updates to this page

Published 7 April 2022

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