Prudential Regulation Authority publishes CP27/19 Liquidity: The PRA's approach to supervising liquidity and funding risks 17 October 2019 In this Consultation Paper (CP), the Prudential Regulation Authority (PRA) sets out proposals to update Supervisory Statement (SS) 24/15 ‘The PRA’s approach to supervising liquidity and funding risk’ (see Appendix) to reflect relevant updates to the Bank of England’s Market Operations Guide (Market Operations Guide) and to reiterate relevant expectations set out in SS9/17 ‘Recovery Planning’ .  This CP is relevant to PRA-authorised UK banks, building societies, and PRA-designated UK investment firms, referred to collectively as ‘firms’.