The PRA has published its Annual Report. The annual report reviews all aspects of the Bank of England’s structure and aims, including its ‘One Bank’ initiative to maximise its impact by making full use of its internal knowledge, resources and skills.
The report also highlights some important changes that have been implemented in 2015/2016, including the Bank of England’s stress testing to enhance the resilience of the financial system and the implementation of the Senior Managers Regime.
The report also contains reports on specific issues including:
- Report from each of the policy committees.
- Financial review report for 2015/16, including structural reforms that are designed to restore banks to their pre economic-crisis level.
- The Chief Executive’s report, setting out the PRA’s goals, targets and activities.
- PRA strategic report which outlines the PRA’s responsibilities and its forward looking supervisory and proportionate approach, its co-ordination with overseas regulators to try and ensure consistency and an emphasis on undisruptive solutions and stronger ties to the FCA. This report also considers next financial year’s business plan.
- Directors’ report, including a review of salaries and remuneration packages.