On 30 July 2015, the Bank published a consultation on a new sterling money market data collection and reform of SONIA. The data collection is proposed to apply to all Monetary Financial Institutions and PRA designated investment firms. Closing date for feedback is 1 October 2015.
A new sterling money market data collection and the reform of SONIA: public consultation
On-line access to our statistics data is available via our Statistical Interactive Database or in formatted tables in our monthly on-line publication . This publication Bankstats (Monetary and Financial Statistics) includes articles that explain our statistics in more detail.
Bankstats (Monetary and Financial Statistics)
Monetary statistics are collected from banks (including the central bank) and building societies operating in the UK, which together make up the Monetary Financial Institutions (MFI) sector. Sectoral and industrial breakdowns of the money and credit data are available. There is also a wider measure of lending to individuals, which includes mortgage lending and consumer credit provided by institutions other than banks and building societies.
Financial Statistics include the banks' contribution to UK GDP and balance of payments, the UK's gold and foreign currency reserves, statistics on financial derivatives and the UK's international banking activity. We also collect effective and quoted interest rates data and compile statistics on new issues and redemptions of equities, bonds, commercial paper and other debt securities in the UK capital markets. Every three years we compile the UK’s contribution to the triennial survey of derivatives and forex for the BIS - the most recent one was undertaken in April 2013.
In March, the Bank publishes the annual update of the sterling ERI weights. This is preceded by an announcement in February notifying when the update will be published. The sterling effective exchange rate index is a measure of the overall change in the trade-weighted exchange value of sterling, calculated by weighting together bilateral exchange rates. It is designed to measure changes in the price competitiveness of traded goods and services and so the weights reflect trade flows in manufactured goods and services.
Much of the monetary and financial data are used within the Bank by Monetary Analysis, as part of the input to the MPC process and the Inflation Report and within Financial Stability in their assessments of the UK banking sector.
The ONS is also a major customer for our data. A Firm Agreement governs the relationship between the Bank and ONS, with the ONS providing an annual assessment of our performance (see Key Resources).
We also provide data to the European Central Bank (ECB) and the Bank for International Settlements (BIS).
In these pages, we provide an overview of the standards that we set ourselves (in our 'Code of Practice') and our 'Cost Benefit Analysis' framework that we use to ensure that we only collect data where the benefits are sufficient to outweigh the costs to reporting institutions.