Prudential Regulation Authority Rulebook

5.1

The PRA-regulated Activities Order requires the PRA to keep all designations under review. In reviewing designations, it is important to guard against volatility in designation. That is why the value of total assets is averaged over four quarters. PRA staff review the eligible population of firms against the designation criteria on a periodic basis to consider whether any additional firms should be designated, or their designation withdrawn. The PRA also discusses individual firms with the FCA as they approach the relevant designation thresholds. A summary of this analysis, plus any designation recommendations, is, where relevant, put to the Prudential Regulation Committee for decision.