Bank of England digest highlights PRA Basel 3.1 consultation and 2025/26 reports

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BoE PRA Basel 3.1 digest

Highlights

Bank of England and PRA June 2026 digest includes CP9/26 consultation on Basel 3.1 internal model approach amendments for market risk.
PRA Annual Report 2025/26, published in June, details activities up to 28 February 2026 and includes metrics for monitoring the Secondary Competitiveness and Growth Objective.
Bank of England and FCA launched the 2026 AI Survey, open until 31 July, seeking data on AI and machine learning usage across UK financial firms.

June regulatory agenda for UK firms

As reported by the Bank of England and the Prudential Regulation Authority, the June 2026 digest brings together key regulatory publications for the UK financial services industry, led by CP9/26 on Basel 3.1 adjustments to the internal model approach for market risk.

The digest also lists the Prudential Regulation Authority Annual Report 2025/26, the annual report under the Prescribed Persons regulations, the Enforcement Decision Making Committee Report 2025/26, the Cost Benefit Analysis Panel Annual Report 2025/26, and an appendix on the authority’s Secondary Competitiveness and Growth Objective.

The PRA says its annual report includes information on its activities for the year ended 28 February 2026. The appendix to that report sets out the quantitative and qualitative metrics used to monitor performance against the Secondary Competitiveness and Growth Objective, which the authority describes as part of its transparency and accountability commitments.

AI survey and governance focus

The Bank of England and the Financial Conduct Authority have also launched their 2026 AI Survey, which is open on a voluntary basis to firms until 31 July. The survey seeks information on the development, deployment and use of artificial intelligence and machine learning, including foundation models, generative AI and agentic AI, and builds on exercises conducted in 2019, 2022 and 2024.

The broader publication set also underlines the regulators’ focus on governance and oversight. The Enforcement Decision Making Committee report covers the period from 1 March 2025 to 28 February 2026, while the Cost Benefit Analysis Panel report covers the same period and outlines the panel’s independent input into policymaking scrutiny.

The digest further notes that the Bank of England and PRA are Prescribed Persons under the Public Interest Disclosure framework established by Parliament. For firms across the UK sector, the package provides a consolidated view of supervisory priorities, accountability reporting and policy development work now in focus.

Motors Insurance Company Limited’s A- financial strength rating affirmation highlighted the insurer’s strong capitalisation, steady underwriting results and conservative investment approach supporting earnings stability in its UK auto warranty business. Our publication previously noted that the company’s risk-adjusted capital remains at the strongest level, with expectations of some moderation in buffers due to dividend upstreaming, while reinsurance concentration is partly offset by the counterparty’s credit quality.

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