People: Bailey to be first head of the PRA

The Bank of England in London

Andrew Bailey has been named as the head of the Prudential Regulation Authority (PRA), the new bank supervisory agency set up within the Bank of England (BoE).

The launch of the PRA is part of the UK government's decision to house financial regulation within the central bank. The PRA will replace the Financial Services Authority (FSA) on prudential regulatory matters when it officially comes into being on April 1, with a second new division - the Financial Conduct Authority - taking on the FSA's

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