In a speech to the Society of Business Economists, Andrew Bailey, the Prudential Regulation Authority's (PRA) CEO, has discussed BoE's approach to tackling current prudential challenges. He highlighted the coordination between the monetary and the financial policy committees (MPC and FPC, respectively) over the Funding for Lending Scheme. In its turn, PRA followed FPC's recommendations to ease capital requirements on new lending while raising the level of minimum equity capital. He explained that the exercise is aimed at solving legacy issues without restricting new lending to the real economy. The speech finished with a reference to a BoE report that points at the decreasing role of commercial property as security for lending. (Source: PRA Speaks on Regulatory Challenges)