British regulator pushes private credit groups to share more data, FT reports

May 13 (Reuters) - Britain's ​Financial Conduct ⁠Authority has been discussing ​plans to overhaul its reporting requirements with ​some ‌of the world's biggest credit ⁠groups, the Financial Times reported ⁠on Wednesday.

Several groups, ​including Apollo, Blackstone, Carlyle, Goldman Sachs Asset Management, and KKR have voluntarily agreed to ​provide ‌data to the Bank of England in a stress test of how the $16 trillion global ​private equity and private credit industries ‌would deal with a major financial shock.

The FCA has been ‌in talks with some of the groups about providing it with much ​of the data they're providing to the ‌Bank of England on a more regular basis, the newspaper added.

The British ⁠watchdog was ⁠looking to improve ‌the quality of information it collected from private ​credit ​groups, while also streamlining the ‌Alternative Investment Fund Managers regulation, the newspaper said. (Reporting by Chandni Shah in Bengaluru; Editing by Aurora Ellis)

Apollo Global Management

Blackstone

Carlyle Group (the)

Goldman Sachs Group

KKR & Co.