This Feedback Statement (FS) provides a summary of the responses to the Prudential Regulation Authority's (PRA) Discussion Paper (DP) 1/21 'A strong and simple prudential framework for non-systemic banks and building societies'. The DP set out a vision for a prudential framework for banks and building societies (hereafter 'firms') considered by the PRA to be neither systemically important nor internationally active comprising of a number of layered regimes. The objective of the framework would be to maintain the resilience of those firms in scope and of the UK financial sector while using simplified prudential regulation, thereby enabling a dynamic and diverse banking sector in the UK. The DP referred to the overall framework as the 'strong and simple' framework. The DP also asked for views on whether the project should start with a layer for small firms and explored high-level options for its design - it called this layer the 'simpler regime'.

The aim of this FS is to stimulate further debate about the design of the strong and simple framework. It pulls out broad themes from the responses to the DP with the intention of providing an overall summary of the responses. This statement summarises the responses to DP1/21 as far as they concern the matters raised in that DP. It does not include policy proposals, nor does it signal how the PRA is considering designing and implementing a strong and simple framework.

Respondents' comments on other policies that are the responsibility of the PRA or the Bank of England that were not discussed in the DP are not covered in this FS.