On 1 July 2025, the Bank of England (BoE) published a summary of the Chief Financial Officer (CFO) roundtable discussions on Future Banking Data (FBD) hosted by the Prudential Regulation Authority (PRA) on 19 May 2025.

The roundtable consisted of senior representatives from the BoE, the Financial Conduct Authority (FCA) and CFOs from the largest and most systemic firms operating in the UK to discuss FBD. The session focused on gathering feedback on planned work for the year and the long-term direction of FBD which included the PRA’s plan to publish a Consultation Paper on the deletion of initial rules-based reporting templates that are of limited use and found general support for the development of a firm-facing digital portal to facilitate more efficient communication and case management.

Firms also supported the PRA’s plans for comprehensive reforms over a longer period and the need for a more integrated approach to reporting. Firms emphasised a ‘one-size-fits-all’ approach to regulatory reporting, including the aggregation of data such as loan-level mortgage data and the need for flexibility in response to emerging risks or supervisory priorities.

Next steps

The regulatory authorities expect to review feedback from the roundtable which may include delivering a data dictionary across UK reporting as well as moving towards more granular reporting.

The BoE plans further engagement with a wider set of firms and various trade associations to provide an update to the group of CFOs in Q3 2025. The PRA plan to develop by the end of 2025 a vision for a multi-year programme change in reporting, which will deliver tangible cost reductions to firms.

In addition, the PRA plan to publish a Discussion Paper on current data use and challenges.