1.1 This Prudential Regulation Authority (PRA) Feedback Statement (FS) provides a summary of the responses to Discussion Paper (DP) 1/21, which explored options for developing a 'strong and simple' prudential framework in the UK.

1.2 The aim of this statement is to stimulate further debate about the design of such a framework. This statement is relevant for PRA-regulated banks and building societies that are neither systemically important nor internationally active. This statement does not provide the PRA's views about the merits of the different comments in the responses. It does not include policy proposals, nor does it signal how the PRA is considering designing and implementing a strong and simple framework. This statement covers comments on policies that were discussed in DP1/21. Respondents' comments on other policies that are the responsibility of the PRA or the Bank of England are not covered in this statement [DP1/21 focused on how microprudential regulation could be simplified for banks and building societies that are considered neither systemically important nor internationally active. It did not discuss the prudential regime for insurers. It also explained that the prudential regulation of small firms forms part of a wider framework that includes the bank resolution and insolvency regime, the Financial Services Compensation Scheme, the PRA and Financial Conduct Authority's respective processes for authorising new firms, the ongoing supervision and monitoring of PRA-regulated firms, and the macroprudential regime.].