PRA proposes cuts to bank reporting requirements
The UK’s Prudential Regulation Authority (PRA) has opened consultation on plans to cut regulatory reporting burdens for banks. Announced on 22 September 2025, the proposals would delete 37 templates inherited from European Union rules, mainly covering financial reporting.
The move is part of the PRA’s Future Banking Data project, a wider review aimed at streamlining data collection while ensuring supervisors still receive the information they need. The PRA estimates the deletions would save the industry around £26 million annually.
The consultation runs until 22 October, with changes scheduled to take effect on 1 January 2026. Later this year, the PRA plans to publish a discussion paper outlining its longer-term approach to bank reporting, with the goal of further reducing duplication and complexity over time.
Read the PRA’s consultation here.
