The House of Commons Treasury Committee published a letter dated 30 June 2016 from Andrew Bailey, former Deputy Governor and Chief Executive of the PRA, to Andrew Tyrie, Treasury Committee Chairman, concerning the public disclosure of supervisory information. The letter responds to the questions raised by Mr Tyrie in a letter dated 6 June 2016 relating to the intrusiveness of regulation, competition and internal modelling, and supervisory confidentiality.
Commenting on the correspondence Mr Tyrie stated:
“The PRA should consider a disclosure policy – a statement of what it will and will not release. This will enable the merits of supervisory confidentiality to be judged on a consistent and transparent basis. Unless there’s a very good reason for not doing so, the PRA should publish information which can bolster market discipline. The market can and should be a powerful regulatory ally.”