Frequently Asked Questions - Building Society reporting: Form specific
This page is intended to help Building Societies who have any form specific queries. The content will be updated on an ongoing basis.
Other FAQ pages are available for:
- General Queries
- Data submission queries
- Form ER
- Form PL
If you require any further assistance on these subjects please contact us.
Q. Within the BT form there is a section headed "To be completed by those banks specifically asked to do so by the Bank of England" (item no 47) and "Appendix 1 - Custody holdings for non-residents". How do the Bank inform societies to if they need to report this?
A. The 'To be completed by those banks specifically asked to do so by the Bank of England' only relates to the items 47/47A. Given that by nature building societies business is largely retail, we would like all building societies to report these items. Any institutions which have custody business should report this in Appendix 1.
Q. The BT form does not mention anything about shares; are building society shares not recorded on the BT?
A. Building societies shares are considered as deposits on the BT form. Societies will need to decide if the accounts are sight (BT2) or time (BT3) deposits.
Q. Where should Charity institutions be reported on Form BT?
A. The sector allocation of Charities will be based on their residency. If the Charities are UK residents then they go into 'Other UK residents (BT2H/BT3H)' on the Balance Sheet if they are non-resident then they would go in the non-resident items (BT2J/BT3J). For more information on sector categories, see Part III of the Classification of Accounts Guide.
Q. Is the Bank of England reserve account considered a Sight deposit on Form BT?
A. Reserve Balances are money that institutions place with the BoE and these would be reported in 21B - see Statistical Notice 2006/03.
Q. Does the further analysis in BT3HC Individual Savings Accounts mean just ISA's or does it mean any savings accounts?
A. Only ISA accounts should be reported in BT3HC.
Q. On form BE why is there not a section for securities (including shares and other equities) issued by: Households and individual trusts?
A. The reason there is no box for securities issued by households and individual trusts, is because it is believed they do not issue any..
Q. Is it correct that for the purposes of the IS form any element of negative equity which is not fully secured (i.e. proportion of loan that is over 100% LTV) should be excluded from the totals, and included in form IO. Some societies have only been asked to report the IS and not the form IO, is this correct?
A. Yes. That part of the loan is not secured on the property then this would be reported on the IO form. The populations have been derived based on items reported on societies MFS1 data at end-December 2006.
Q. On Form IS, item XFKBJA 'Amount outstanding in 'multiple account' offset products', the second sentence states "The value here should be the value of secured lending net of qualifying deposit account balances". This appears to be inconsistent with XFKBJB which simply asks for the outstanding balance on offset products? Therefore, can the second sentence in XFKBJA be ignored?
A.Items XFKBJA and XFKBJB are intended to capture two different types of offset products - multiple account offset products and single account offset products. So XFKBJA is for where institutions allow separate deposit accounts to be offset against mortgages for interest calculation purposes. Although these accounts are separate some institutions have a legal right of set off which allows these balances to be reported net. Where this is the case the net balance specifically for these type of accounts should be reported in XFKBJA. XFKBJB however represents the type of accounts which are a single product i.e. there is a single balance which reflects the outstanding mortgages less any deposits which have been paid into the account . As XFKBJA and XFKBJB relate to each of the two different types of products (multiple and single account respectively) the wording is different to reflect this.
Q. On Form IS, items XFKBJ & XFKBJ1 (amounts outstanding), the guidance suggests that it is permitted to report the same balance in items XFKBJ & XFKBJ1 were mortgages are reported on a gross basis. Is this correct?
A. Yes if you report all mortgages balances gross then XFKBJ and XFKBJ1 should be the same.
Q. Are these the correct categories on each form for loans to Housing Associations.
- BT 29D Other UK Residents
- BE 29DB2 All non financial corporations other than public corporations
- BE 29D2A Loans and advances (incl. overdrafts) to housing associations secured on residential property
- AL 10A Development, buying, selling and renting of Real Estate
- PL 1BJ Private non financial corporations
- PL 1BJD development, buying, selling and renting of real estate
A. Yes. Also, write-offs of loans to Housing Associations should also be allocated to WO 1H (All non non-financial corporations (other than public corporations) including unlimited liability partnerships.
Q. Can forms PL and ER be completed on an IFRS basis?
A. Form PL may be completed on an IFRS basis but Form ER should be reported in line with the Bank’s statistical definitions set out on the ‘yellow folder’.
If you wish to report Form PL on IFRS basis, please contact Martin Udy (Tel. 020 7601 4731).
Q. Where should legal fees income from customers transferring their mortgage to us from another provider be classified within the product breakdown of fees?
A. PL5H - other fees and commission receivable.
Q. Please clarify the reporting of provisions?
A. Form PL item 20A should be the net charge for bad debt provisions. The Bank expect the provision charge for bad and doubtful debts (PL20A) to be equal to the sum of new provision charges (specific 20AA plus general 20AD) minus releases (20AB) and recoveries (20AC) The equation PL20A = PL20AA + PL20AD – PL20AB – PL20AC should hold. All figures should be entered as positive. Form PL item 20B is the final balance sheet level of provisions at the end of the reporting period. The movement in 20B will therefore reflect write offs (20AE) and provision charges before recoveries (20AA – 20AB + 20AD) over the quarter.
Q. To what extent can the additional information required on Form PL be estimated?
A. The level of estimation will mainly depend on the materiality of the data and the potential for error. In broad terms estimation is likely to be fine for all but the largest societies with whom we would intend to discuss this issue bilaterally.
Q. Who should I contact with any queries?
| General Issues | Pat O'Connor | 020 7601 4450 |
| Data Submission issues | Leslie Lambert | 020 7601 4544 |
| Cash Ratio Deposits | Sarah Waddington | 020 7601 5505 |
Individual Forms:
| BT, BE, Q1(D), QX, AD, AL, MM/MQ | Sue Docker | 020 7601 3236 |
| CA, CC, CL, CE, C1, DQ | Pat O'Connor | 020 7601 4450 |
| PL, BG, HI, HO | Martin Udy | 020 7601 4731 |
| ER | Mhairi Burnett | 020 7601 5479 |
