3.14 In developing these proposals, the PRA has had regard to the FSMA regulatory principles, the aspects of the Government's economic policy set out in the HMT recommendation letter of December 2022. Where the proposed rules in this CP are 'CRR rules' (as defined in section 144A of FSMA), or rules applying to holding companies (section 192XA of FSMA), the PRA has also taken into consideration the matters to which it was until recently required to have regard to when making such rules [Although no longer obliged to have regard to these matters, the PRA considered them when developing these proposals.]. The Financial Services and Markets Act 2023 includes a measure to amend to FSMA regulatory principles. This adds a regulatory principle relating to the UK's net zero emissions target. The PRA has had regard to this matter. The following factors, to which the PRA is required to have regard, were significant in the PRA's analysis of the proposal: