Rebecca Jackson, director of the UK’s Prudential Regulation Authority (PRA), recently delivered a speech at the Association Of Foreign Banks Mansion House Lunch, shedding light on the PRA’s approach to data regulation and supervision in the financial industry.
Regular readers of this newsletter will be familiar with our frequent call for more, better quality, comparable data – but sometimes it is worth taking a step back to consider why.
XBRL US CEO Campbell Pryde took a deep dive into bank regulation in the wake of the recent Silicon Valley Bank failure. He points out that XBRL data could have easily helped predict the crisis, as financial statements demonstrated the fragility of SVB’s finances.
The Bank of England (BoE) has recently published the latest updates for those following the initiative it is leading together with the Financial Conduct Authority (FCA) to transform data collection in the UK financial sector.
The past few weeks have been chaotic in global financial markets, including a run on Silicon Valley Bank, quickly followed up with a wave of panic uncertainty around Credit Suisse, with both deposit-taking institutions subject to rapid regulatory resolution over the past couple of weekends.
Financial regulation has been in the spotlight recently as uncertainty, driven by Silicon Valley Bank (SVB) in the US and Credit Suisse in the EU (see above), continues.
Writers from Delhi’s Centre for Budget and Governance Accountability have emphasised the importance of machine-readable data in getting government budget information out to the general public.
The UK government recently published a policy paper thinking through its digitalisation and data strategy and outlining its next steps to improve in this area.
The Project on Government Oversight (POGO) has addressed the importance of machine-readable disclosures as part of its series of 13 recommendations to increase US government accountability.
The Canadian Federation of Independent Business (CFIB) has recommended that the Ontario government improve accessibility of regulatory documents by publishing them in a machine-readable format.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
