BoE enters new phase of data transformation project
The Bank of England is embarking on the second phase of its project to “transform” data collection in the UK, as it begins to implement the findings of a data standards review.
For the past two years, the BoE and the Financial Conduct Authority (FCA) have been working on the first phase of the project. The regulators collaborated with banks and providers of financial infrastructure to identify issues with the existing data collection framework and begin to address them.
A key element of phase
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