49Board must have regard to financial policy remit when acting in relation to prudential strategic intentions and prudential standards

1. The board must have regard to the financial policy remit when—

2. the board is setting the prudential strategic intentions in the Bank’s statement of intent; and
3. the board is making significant policy decisions about how to achieve those prudential strategic intentions; and
4. the board is monitoring, and reporting on, the Bank’s performance in achieving those prudential strategic intentions; and
5. the Bank is issuing and reviewing standards.

6. In this section,—

   prudential strategic intentions means the strategic objectives that the Bank intends to achieve or contribute to in relation to—

   1. the financial stability objective; and
   2. the objective of acting in a way that furthers the objectives or purposes of the prudential legislation; and
   3. the Bank’s function under section 10(1)(b) (which relates to acting as a prudential regulator and supervisor under the prudential legislation)

   standards means any of the following:

   1. fit and proper standards issued under section 36 of the Insurance (Prudential Supervision) Act 2010:
   2. solvency standards issued under section 55 of the Insurance (Prudential Supervision) Act 2010:
   3. standards issued under section 31 of the Financial Market Infrastructures Act 2021:
   4. standards issued under subpart 2 of Part 3 of the Deposit Takers Act 2023.