Banks should improve tech infrastructure to aid stress testing, PRA officials say
Mark Yallop highlights demands on banks when assembling data
The Prudential Regulatory Authority (PRA) would be able to conduct multiple stress test scenarios on banks if their internal IT infrastructure was of higher quality, Andrew Bailey said today (November 17).
Bailey, the chief executive of the PRA, and Bank of England deputy governor, told the Treasury Select Committee "an improvement in the system's environment would benefit us and the banks", adding it could increase the PRA's confidence in the bank's robustness.
The PRA conducts system-wide
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