BoE plans upgrades to data collection process

Overhaul includes work on validation, communications with firms and common data standards

The Bank of England at night
The Bank of England at night

The Bank of England (BoE) will test new technology that aims to improve how it collects data from financial firms, it said on March 28.

The BoE plans to trial new validation tools as part of an ongoing “holistic review” of regulatory data collection by the Prudential Regulation Authority (PRA). This effort is running in parallel with the wider “Transforming Data Collection” project the BoE is working on with sister regulator the Financial Conduct Authority (FCA). The central bank is now in the

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