On 1 April 2026, there was published a letter from the Bank of England (BoE) and the Prudential Regulation Authority (PRA) in response to a letter from the Chancellor of the Exchequer, the Secretary of State for Science, Innovation and Technology, and the Secretary of State for Business and Trade on AI-driven innovation. The letter responds to previous requests that the BoE / PRA work closely with HM Treasury and Department of Science, Innovation and Technology to publish a plan setting out how they will help enable safe AI innovation, including to agree a suitable timeline in the first half of 2026, and report annually on how their regulatory approach has enabled innovation and growth driven by AI in the financial sector.