1.1 This Supervisory Statement (SS) provides an overview of how the Prudential Regulation Authority’s (PRA) ’s supervisory expectations of ‘new [New banks refers to firms that are in the ‘mobilisation stage’ (authorisation with restrictions) and those that have received authorisation without restrictions within the past 12 months (e.g. exited mobilisation or authorised without using the mobilisation period).] and growing [Growing banks refers to banks that are typically between one and five years post authorisation without restrictions. These banks often share many of these characteristics: rapid growth; loss making; reliant on regular capital injections; significant and rapid changes in strategy and business model; and immature controls.]’non-systemic [Non-systemic banks are those which are not designated as systemically important through the O-SIIs (other systemically important institutions) Identification process. These banks are mainly category 2-5 UK incorporated deposit takers, whose size, interconnectedness, complexity, and business type give them the capacity to cause some (category 2), minor (category 3), very little capacity individually (category 4) and almost no capacity individually (category 5) to cause disruption to the UK financial system by failing, or by carrying on their business in an unsafe manner, but where difficulties across a whole sector or subsector have the potential to generate disruption.] UK-incorporated banks [Which firms does the PRA regulate?], [UK bank means of a UK undertaking that has permission under Part 4A of the Financial Services and Markets Act 2000 (FSMA) to
carry on the regulated activity of accepting deposits and is a credit institution, but is not a credit union, friendly society or a building