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Home > Statistics > Explanatory Notes - Monetary financial institutions’ (excluding central bank): further sectoral breakdown of non-resident business
 

Explanatory Notes - Monetary financial institutions’ (excluding central bank): further sectoral breakdown of non-resident business

Overview

The sectoral analysis of MFIs’ non-resident business provides additional breakdowns on MFIs’ deposits, loans and securities transactions with non-residents.  These are broken down into three broad categories: deposit-taking corporations (DTCs), other financial corporations (OFCs), and other non-residents.  Data on levels of intra-group activity by UK-resident MFIs with non-resident DTCs and OFCs are also available.  For OFCs and other non-residents, there is also a maturity split of loans with original maturity up to and including twelve months and over twelve months. Additional data, also relating to transactions with non-residents, were recently made available as part of the more detailed quarterly data published by the Bank. These data can be found in Bankstats tables C3.4.

Availability 

Data on UK MFIs’ transactions with non-residents will be published monthly on amounts outstanding and flows for sterling, euro and other foreign currency.  Data on amounts outstanding are available quarterly from Q1 2014 and monthly from January 2014, and data on changes are available quarterly from Q2 2014 and monthly from February 2014.  These data are not seasonally adjusted.
 
Publication of data will usually occur on the 21st working day following the end of the reporting period in Table B2.5.1 in Bankstats (Monetary and Financial Statistics) and on the Statistical Interactive Database.
 

Sources 

Additional sectoral detail data is provided through a sample of UK-resident banks, which report data directly to the Bank of England on the form BN.  This complements existing MFIs’ balance sheet data collected using form BT.  The BN reporting threshold covers institutions with non-resident positions (assets or liabilities) over £25bn.

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.

Further information on the additional quarterly data is available via the key resources section below. These data are broadly consistent with, and complement, the monthly data. There are some differences between the data collections, which mean that they are not directly comparable. These differences include, but are not limited to, the sample and coverage of the respective reporting populations; the granularity of currency information available to adjust for the effects of exchange rate movements in the data; and the timing of the data collection.

Definitions

Non-resident
The non-resident sector covers all non-UK residents, including all financial and non-financial institutions incorporated in the Channel Islands and the Isle of Man, and branches of UK and other institutions that operate there.
 
Deposit-taking corporations
This category refers to non-resident banks and other non-resident financial institutions whose business is to receive deposits and/or close substitutes for deposits (such as short-term certificates of deposit) from entities other than deposit-taking corporations and, for their own account (at least in economic terms), to grant credit and/or make investments in securities.  Non-resident deposit-taking corporations include central monetary institutions (CMIs) but exclude money market funds.
 
Intra-group
“Intra-group” business here refers to business with non-resident deposit-taking corporations that are part of the same group as the reporting institution.
 
Other financial corporations
These comprise all non-resident financial corporations other than deposit-taking corporations.  These include all non-resident money market funds, non-money market fund collective investment schemes, factoring companies and discounters, insurance companies and pension funds, leasing companies, securities dealers, financial auxiliaries, other financial institutions and also banking international organisations.
 
Other non-residents
This category includes non-residents other than non-resident deposit-taking corporations, non-resident other financial corporations and non-resident central governments. 
 

Further information on definitions can be found in Part III of the Classification of Accounts Guide.

Valuations and Breaks

These data complement existing data on MFIs’ business with non-resident counterparties presented as part of the MFIs’ balance sheet. The sectoral data collected on form BN are a subset of data collected on the balance sheet of MFIs’ using form BT.   

All data are reported in sterling, with foreign currency data converted to sterling at the middle spot sterling exchange rate at 4pm on the last working day of the month.
 

Transit and suspense items 

MFIs’ liabilities to and assets with non-resident counterparties are affected by the allocation of reporters' transit and suspense items (for further details see the notes to the monetary financial institutions' consolidated balance sheet).
 
 

Key Resources

  Publication of additional Monetary Financial Institutions’ data relating to transactions with non-residents by Christopher Handler and Alisha Patel, Bankstats (Monetary and Financial Statistics), September 2015
 
 Enhancements to the International Banking Statistics by John Lowes and David Osborn, Bankstats (Monetary and Financial Statistics), June 2015
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