Prudential Regulation Authority confirms deletion of 37 banking regulatory reporting templates under Future Banking Data review

The Prudential Regulation Authority (PRA) published a policy statement finalising its first set of targeted reporting reductions under the Future Banking Data programme, confirming it will delete 37 regulatory reporting templates and consolidate the Financial Reporting (FINREP) scoping provisions into a single section of the PRA Rulebook. The package applies to PRA-authorised UK banks, building societies and PRA-designated UK investment firms, and their qualifying parent undertakings (including relevant subsidiaries regardless of location), but not to credit unions. Deletions cover 34 whole FINREP templates plus two Common Reporting (COREP) templates and PRA109, alongside consolidation of the remaining FINREP requirements, clarifications to FINREP scoping conditions, aligned FINREP remittance dates, and updates to Supervisory Statement SS34/15. Five respondents supported the deletions; the PRA made no substantive changes in response, aside from minor drafting clarifications, and indicated that wider suggestions (including further deletions, disclosure and reporting rationalisation, and materiality-based approaches) were out of scope but will be considered in later Future Banking Data work. The revised rules and the related amendments to SS34/15 take effect on 31 December 2025 and apply to reporting reference dates that fall on that day. The PRA also flagged a forthcoming discussion paper on Future Banking Data, including potential refinement of cost-benefit analysis inputs for future reporting changes.