Prudential Regulation Authority

The Prudential Regulation Authority (PRA) is a division of the Bank of England responsible for overseeing banks, insurers, and investment firms in the UK. Its main goal is to ensure the financial stability of these institutions by setting standards and regulations that help them operate safely and responsibly. The PRA monitors their financial health, ensures they have enough capital to withstand economic challenges, and protects consumers' savings. By maintaining a stable financial system, the PRA aims to prevent crises that could impact the economy and the public.