Bank of England – delivering data standards and transforming data collection in financial services

An article in the latest Bank of England Quarterly Bulleting describes the work the Bank has been doing, with other regulators, to look at how to reform and improve the way firms manage data.

The development and adoption by the finance industry of a set of common data standards is critical to the work the Bank is doing. Common data standards can make it easy for regulators to explain the data required and for firms to find and source that data.

A speech by Gareth Ramsay covered similar issues, setting out what the Bank is doing to improve how it collects data.