Prudential Regulation Authority (PRA)

The Prudential Regulation Authority (PRA) is a part of the Bank of England that oversees banks, insurance companies, and investment firms in the UK. Its main goal is to ensure these financial institutions are stable, safe, and can meet their obligations to customers and the economy. The PRA sets rules and monitors compliance to prevent crises, protect consumers' money, and maintain trust in the financial system. By promoting sound financial practices, it helps ensure that firms can withstand economic challenges and continue to operate effectively.