On 4 February 2026, the Prudential Regulation Authority (PRA) issued Discussion Paper 1/26: Future banking data (DP1/26).

FBD

The PRA is reviewing its strategic approach to regulatory reporting for banks through the Future Banking Data (FBD) programme. In DP1/26 the PRA sets out its latest thinking on banking data collections and is seeking views from firms to help shape this programme.

Scope

DP1/26 is relevant to PRA-authorised UK banks, building societies, PRA-designated UK investment firms, and their qualifying parent undertakings, which for this purpose comprise financial holding companies and mixed financial holding companies, as well as credit institutions, investment firms, and financial institutions that are subsidiaries of these firms, regardless of their location. It is not relevant to credit unions.

Incremental reform

In DP1/26 the PRA suggests incremental reform. This includes extending the initial template deletions the PRA recently implemented by reviewing a wider range of collections. This work would also draw on the approach followed for reporting as part of the PRA’s Strong and Simple initiative, which has simplified liquidity returns for Small Domestic Deposit Takers (SDDTs), and which will deliver simplifications to capital reporting for SDDTs from 1 January 2027. Significant streamlining and reductions in reporting were already implemented for insurers as part of the Solvency UK reforms which concluded in 2024.

Trade-offs

When making the reforms to reporting, the PRA will balance a number of trade-offs, including the extent of data model standardisation (including definitions), cross-firm comparability, international alignment, granular data vs aggregated formats, and the role of and relative balance between regular reporting and one-off requests. To guide the FBD programme the PRA also suggests four broad principles: (i) anchoring the data the PRA collects in its objectives, (ii) collecting data ‘once and well’ by minimising the data collected to meet its objectives but maximising its use, (iii) making it easier for firms to supply data, and (iv) ensuring the data collected remain fit for purpose over time. Proportionality and cost-benefit assessment are central within these principles, consistent with the PRA’s intention to collect only high-value data at an appropriate cost.

Next steps

The deadline for comments on DP1/26 is 5 May 2026.