VALUATIONS AND BREAKS
Table B3.2 contains selected annual profit and loss data of Monetary and Financial Institutions (MFIs) operating in the UK that feed into the UK national accounts. It comprises data series on interest, fees and commissions, dividends, trading income, other operating income and expenses and provisions. These data are unconsolidated and cover only the UK based operations of the MFI. As such they differ from the institutions' own published accounts that will comprise the global activity of the group as a whole. For this reason and some definitional variations needed for the national accounts, information contained in this table is frequently very different from that published in the institutions' own published accounts and direct comparison should not be attempted.
Data are available from 2004. Publication of annual data for the preceding year will usually occur on the 21st working day of the June in Table B3.2 in Monetary and Financial Statistics (Bankstats). The annual dataset will be updated on a quarterly basis to ensure consistency with that provided for use in the UK national accounts.
Following the transition of building societies statistical reporting from the FSA to the Bank of England on 1st January 2008, all figures in Table B3.2 include building society data from 2008 data onwards.
Data are derived from the Form PL. This form is reported by approximately 120 of the largest MFIs on a quarterly basis, and a further 120 smaller MFIs on an annual basis. There is around 98% coverage from banks reporting at least annually, based on gross assets/liabilities as reported quarterly on Form BT. Coverage from quarterly data is around 92% with estimates derived for the other banks.
Building society data reported on Form PL are included from 2008 Q1, with coverage similar to that for banks. Estimates are derived for other building societies.
All data are subject to revision if and when new information becomes available. For more information on revisions practices see the Explanatory Note on revisions, available here.
Interest receivable/payable: includes interest on money market instruments, loans and advances, deposits, repos, reverse repos, bonds and floating rate notes.
Dividends received/paid: cash dividends received or paid during the period. This includes any bonus/scrip issues (i.e. issues of new fully-paid shares to existing shareholders on a basis pro rata to existing holdings).
Fees and commissions receivable/payable: direct receipts/payments on services relating for example to the issue of new securities, investment management services, retail foreign exchange business, guarantees and payment transactions.
Trading income: includes all profits or losses (including revaluation profits or losses) arising from both the purchase and sale of tradable instruments such as foreign exchange, securities and derivatives.
Other operating income and expenditure: includes rent received/paid on land and buildings, receipts/payments on finance leases, and all other income and current expenditure (such as staff costs, occupancy costs, restructuring costs and depreciation). Expenditure excludes tax and provisions.
Net new provision charges: are defined as provisions made against impaired financial assets, including interest, less releases and recoveries. This includes financial assets (including income) assessed individually and/or collectively as impaired. .
Other items: including those which may be deemed as exceptional or extraordinary. This can include items that are derived from events or transactions that fall outside the ordinary activities of the company and which are therefore expected not to recur frequently or regularly.
Tax: comprises all items treated as tax in financial accounts as well as payments to the Financial Services Compensation Scheme.
Other transfers: comprise all transfers affecting post-tax profit that are not included elsewhere on the Form PL.
VALUATIONS AND BREAKS
Data are collected on an accruals accounting basis except for dividends which are collected on a cash basis. Data are collected according to the international statistical standards, which may not be comparable to data prepared in accordance with International Financial Reporting Standards.
Building societies are included with effect from 2008 Q1.
From Q2 2009 data on banks and building societies' covered bond entities are included on a consolidated basis.
From Q1 2010 data on banks' and building societies' securitisation special purpose entities are included on a consolidated basis.
If you have any queries regarding this dataset please contact:
Nicola Shadbolt [Analytical Queries]
Leigh Pickles [Data Queries]
Relevant articles published in Bankstats: