On 28 January 2025, HM Treasury (HMT) published a letter from the Bank of England (BoE) responding to the November 2024 remit letter for the Prudential Regulation Committee (PRC).

The letter provides the PRC’s response to HMT’s recommendations to it for 2024/25, noting in particular its actions to maintain financial stability and to advance the secondary competitiveness and growth objective.

The PRC also confirms that it will take account of each of the six recommendations on Government economic policy to which the PRC should have regard (which were set out in the remit letter). It sets out, in an annex to the response, further detail on the work the Prudential Regulation Authority is carrying out in support of those recommendations.