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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 (APO.N), Blackstone (BX.N), Carlyle (CG.O), ​Goldman Sachs Asset Management (GS.N), and KKR (KKR.N) ⁠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.