Published by Global Banking & Finance Review®
Posted on September 22, 2025
1 min readLast updated: January 21, 2026
Add as preferred source on GoogleThe Bank of England's PRA suggests reducing financial reporting by deleting 37 templates, with changes proposed for January 1.
LONDON (Reuters) -The Bank of England's Prudential Regulation Authority proposed reducing regulatory requirements for banks by deleting 37 individual reporting templates.
The PRA said on Monday it would consult on the proposals for a month with a goal of implementing the changes on January 1.
(Reporting by Sarah Young, editing by William James)
The Bank of England is the central bank of the United Kingdom, responsible for issuing currency, managing monetary policy, and overseeing financial stability in the UK.
A consultation in banking refers to the process where regulatory bodies seek feedback from stakeholders on proposed changes to policies or regulations, allowing for public input before final decisions are made.
The Prudential Regulation Authority (PRA) is a part of the Bank of England that oversees banks, insurers, and investment firms to ensure their safety and soundness, contributing to the stability of the financial system.
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