UK's PRA proposes linking regulatory thresholds to GDP

LONDON, Oct 7 (Reuters) - Britain's Prudential Regulation Authority on Wednesday proposed that 128 thresholds across banking, insurance and credit unions increase automatically with nominal Gross Domestic Product.

"The proposals would modernise the framework by increasing the proportionality and decreasing the costs of compliance for many firms by replacing the manual ad hoc updates that currently take place," a Bank of England press release said.

(Reporting by Sarah Young, writing by William James)