Across the banking and insurance sectors, the PRA will remain especially focused on the first and second order impacts of the war in Ukraine, and on assessing the extent to which this could impact the stability of financial institutions. The PRA’s focus has now shifted to maintaining that improved level of resilience, consistent with its objectives and those of the Financial Policy Committee . The PRA promotes a risk-aware culture in regulated https://www.thehormonauts.com/ firms, in which risk-taking should be conscious and controlled, and supported by adequate financial and non-financial resources. The PRA continues to ensure that firms are resilient operationally as well as financially. Over the decade following the financial crisis, the PRA designed and implemented extensive reforms, which materially improved the safety and soundness of firms, policyholder protection, and financial stability.
You must also be aware of how your customer base is likely to change over time, whether it … Read More