On 18 July 2019, HM Treasury published an updated memorandum of understanding (MOU) between the Bank of England (BoE) (exercising its prudential regulation functions) and the FCA setting out the high-level framework they will use to co-ordinate and co-operate in carrying out their respective responsibilities. The MOU has been updated to reflect the expansion of the regulators’ remit and organisation changes, including changing the title of the MOU to reflect the PRA becoming fully integrated into the BoE in March 2018. The MOU replaces the previous MOU which was adopted on 1 April 2013.