UK PRA seeks views on proposed reforms to banking regulatory data under FBD programme

The UK Prudential Regulation Authority (PRA) has published discussion paper DP1/26, outlining its proposed reforms to banking regulatory data under the Future Banking Data (FBD) programme. The FBD programme aims to deliver tangible cost reduction for banks in line with the PRA's secondary competitiveness and growth objective, as well as improvements to the relevance, quality and timeliness of data collection. The PRA is aware that while regulatory data are essential for its supervision, financial stability, policymaking and stress testing, current reporting imposes significant cost and complexity on firms. Therefore, while the PRA states its current approach already aims to be proportionate, it notes there are areas which can be further streamlined.

Building on initial template deletions implemented from PS27/25 in December 2025, the PRA proposes a programme of further incremental, proportionate reforms guided by four principles: (i) ensuring data collections are objectives driven; (ii) reducing duplication through a "collect once and well" approach; (iii) making it easier for firms to supply data; and (iv) ensuring data remain fit for purpose over time. The PRA identifies potential streamlining opportunities across legacy templates, reporting processes, and instructions, and highlights trade‑offs around timeliness, comparability, granularity and international alignment. The deadline for responses to the discussion paper, which will inform a future roadmap for reporting reform, is 5 May.

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