BoE and PRA publish annual reports

The Bank of England (BoE) and Prudential Regulation Authority (PRA) have published a series of annual reports, which are set out below.

• BoE Annual Report and Accounts. The BoE has set out its strategic investment priorities for 2025–2028, which include: monetary policy transformation, in the context of the Bernanke Review recommendations; modernising the BoE's central banking operations and streamlining data collections; supporting greater innovation in retail and wholesale payments in the UK and internationally; supporting growth in the economy; reviewing the BoE's activities for efficiency and effectiveness; and completing transformation agendas.
• PRA Annual Report 2024/25. The PRA has also published its secondary competitiveness and growth report for 2024/25 , describing its work over the past year to advance the SCGO.
• BoE Asset Purchase Facility Fund Annual Report.
• BoE Alternative Liquidity Facility Annual Report.
• Report on the BoE's official market operations. This reports on (amongst other things) that the BoE is transitioning from a supply-driven framework for supplying reserves to a demand-driven, repo-led framework and notes that the BoE's new Contingent Non-Bank Financial Institution Repo Facility opened for applications in January 2025, designed to deal with episodes of severe gilt market dysfunction.
• BoE climate-related financial disclosure 2025.This sets out the BoE's key climate-related developments in the year to 28 February 2025, including climate-related risks to which the BoE is exposed, emissions associated with the BoE's own financial and physical operations and the BoE's work on climate change.
• BoE supervision of financial market infrastructures Annual Report. Operational resilience remains a top priority for financial market infrastructures (FMIs); the PRA notes that it is enhancing regulatory frameworks and deepening its engagement with FMIs to ensure they can withstand severe disruptions. The PRA's future FMI priorities include: strengthening crisis readiness to deal with the default of a large clearing member; publishing a final policy statement, rules and supervisory statement on operational resilience; supporting innovation in payments, settlement and clearing with a clearer framework for new entrants to the FMI landscape; continuing to support the work of the Accelerated Settlement Taskforce on the UK market's move to T+1 settlement; and progressing regulatory initiatives such as the Fundamental Rules for UK FMIs and the new UK framework for CCPs.

The PRA has also published annual reports by the Insurance Practitioner Panel, Enforcement Decision Making Committee and Cost Benefit Analysis Panel.

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