PRA publishes Business Plan

significant work already completed on competitiveness and growth – such as the capital requirements to support SME and infrastructure lending, making the Solvency UK regime more efficient for insurers and removal of the bonus cap. It is also actively working on changes to the SMCR and ring-fencing regimes;
its drive to simplify capital requirements for small banks;
its consultation on the bonus deferral period;
its consultation on the insurance Matching Adjustment Investment Accelerator;
upcoming measures to simplify and accelerate ISPV authorisations;
stress tests for both the banking and life assurance sectors;
finalising an updated approach for supervising UK subsidiaries and branches of international banks;
operational and cyber resilience testing;
work on data transformation;
meeting its operating metrics;
progressing recommendations for designation of critical third parties; and
assessing firms’ progress in managing climate-related risks.