BoE proposes reducing data reporting requirements for banks
UK central bank to phase out EU-era regulations in drive to reduce lenders’ admin costs
The Bank of England’s Prudential Regulatory Authority (PRA) has proposed reducing the data reporting requirements for banks in a drive to simplify regulations.
The proposal, which would involve deleting 37 individual reporting templates, was announced today (September 22).
“The PRA has decided that these templates cover data which are either no longer necessary to support its work or are already available elsewhere,” it said in a release. “Their removal should benefit firms by reducing their
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