The PRA has published its statement of strategy for 2014/15. In the statement, the PRA intends to:
- continue to implement the forward-looking, judgment-based regulatory regime;
- continue to implement changes to domestic, European and international regulation, including the Financial Services (Banking Reform) Act 2013;
- influence, devise and implement policy to advance structural reform in banking, resolution policy, the secondary competition objective, and other elements of post-crisis standard setting;
- contribute towards delivering the Financial Policy Committee’s macro-prudential objectives;
- ensure that it has the right people to meet its statutory objectives; and
- ensure that it has the right infrastructure and governance to meet its statutory objectives.
The PRA intends to publish its annual report, business plan and revised approach documents to banking and insurance supervision this summer. It also intends to align its reporting cycle to that of the Bank of England.
View PRA statement of strategy, 10 March 2014