Recommendations for the Prudential Regulation Committee: Spring Budget 2017
Letter from the Chancellor of the Exchequer to the Governor of the Bank of England providing recommendations for the Prudential Regulation Committee (PRC).
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皇冠体育app PRC is responsible for the exercise of the Bank of England鈥檚 functions as the Prudential Regulation Authority (PRA). 皇冠体育app PRA is the UK鈥檚 microprudential regulator for deposit-taking firms, insurers and systemically important investment firms. 皇冠体育app PRA is responsible for ensuring that firms it regulates are properly managing their capital and liquidity positions.
皇冠体育app Bank of England Act 1998 requires the Treasury, at least once in each Parliament, to make recommendations to the PRC about aspects of the economic policy of the government to which the PRC should have regard when advancing the objectives and discharging the duties of the PRA.