The UK’s Prudential Regulation Authority (PRA) is using advanced analytics to seek ways of streamlining its rulebook.
According to James Proudman, executive director for UK deposit-takers supervision at the Bank of England, the rulebook currently contains 638,000 words and the language used can make the text “difficult to read”.
“Another layer of complexity is added because of cross-references and links between different parts of the rulebook, requiring the reader to refer backwards and
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