Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether she has had any discussions with the Bank of England on the Bank of England’s Prudential Regulatory Authority proposal to reduce data reporting for banks.

The Chancellor and I meet regularly with the leadership of the Bank of England to discuss a range of topics, including its work to streamline data reporting requirements for banks and other firms regulated by the Prudential Regulation Authority (PRA).

The government has today published an update on the Regulation Action Plan which welcomes actions the PRA has proposed or implemented to reduce some of the requirements on the firms it regulates.