PRA consults on reducing reporting requirements

The PRA is planning to delete 37 reporting templates to each the burden of regulatory reporting for banks. The proposals focus on templates inherited from EU requirements, which the PRA thinks are now either no longer necessary or where the information it needs is available elsewhere.

The short consultation closes on 22 October, and the PRA plans to implement the changes on 1 January 2026.

Separately, the BoE is consulting on deleting 6 templates also assimilated from the EU on resolution reporting. Firms have a little longer to respond to this, until 21 November, so the the BoE can make the changes ahead of the next annual reporting cycle due for submission in April 2026.