PRA
Government & Politics abbreviation · UK Government
| Stands for | Prudential Regulation Authority |
|---|---|
| Categories | Government & Politics |
PRA stands for Prudential Regulation Authority, a UK government abbreviation.
Part of the Bank of England that supervises the safety and soundness of banks, building societies, credit unions, insurers and major investment firms, setting capital and liquidity requirements.
Example: The PRA required the lender to hold extra capital against its mortgage book.
Usage notes
Created in April 2013 when the Financial Services Authority was split, it focuses on firm stability, while the FCA oversees how firms treat customers. Many firms are regulated by both. Its rules implement international Basel standards for bank capital.
Related abbreviations
More UK government abbreviations
- PAYE – Pay As You Earn
- PC – Plaid Cymru
- PIP – Personal Independence Payment
- PM – Prime Minister
- PMQs – Prime Minister's Questions
- PPS – Parliamentary Private Secretary
- SDLP – Social Democratic and Labour Party
- SF – Sinn Féin
- SFO – Serious Fraud Office
- SNP – Scottish National Party
- SpAd – Special adviser
- SSP – Statutory Sick Pay