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BoE and PRA publish annual reports
26 June 2025The 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.
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