Correspondence

Recommendations for the Prudential Regulation Committee: December 2022

Letter from the Chancellor of the Exchequer to the Governor of the Bank of England providing recommendations for the Prudential Regulation Committee (PRC).

• From: HM Treasury and The Rt Hon Jeremy Hunt MP
• Published: 9 December 2022

This was published under the 2022 to 2024 Sunak Conservative government

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Details

The Prudential Regulation Committee (PRC) is responsible for the exercise of the Bank of England바카라 사이트檚 functions as the Prudential Regulation Authority (PRA). The PRA is the UK바카라 사이트檚 microprudential regulator for around 1,500 banks, building societies, credit unions, insurers and major investment firms.

The Bank of England Act 1998 requires the Treasury, at least once in each Parliament, to make recommendations to the PRC about aspects of the government바카라 사이트檚 economic policy to which the PRC should have regard when advancing the objectives and discharging the duties of the PRA. This letter provides such recommendations.

Published 9 December 2022