Frequently Asked Questions - Statistical Reporting & Cash Ratio Deposits
This is a selection of the most frequently asked questions along with answers. The contents will be updated on an ongoing basis.
Statistical Reporting & Cash Ratio Deposits: If
you require any further assistance on this subject contact
us.
Q. Who has to report?
A. Any institution that has permission to accept deposits, under
Part IV of the Financial Services and Markets Act 2000 (FSMA)
or are inwardly passporting EEA credit institutions which have
permission to accept deposits through a UK branch.
Q What do I have to report?
A What you report is dependent on the size and type of business;
the reporting thresholds can be found here. As a general guide
all institutions have to report Form BT (at least quarterly),
Form PL (at least annually), and annual forms BG, HI and HO.
Institutions will be informed, in writing by the Bank, of their
statistical reporting requirement once permission to accept
deposits has been granted by the Financial Services Authority.
Q When do I have to report?
A Your first balance sheet data (Form BT), will be required
at the first month-end after permission has been granted (or
first quarter-end if appropriate).
A reporting schedule for statistical returns can be found here.
Q How can I send the data?
A Electronic reporting is our preferred method of data capture
(further details about electronic reporting can be found here.
However, paper returns can be accepted and excel versions of
all forms can be found here but please note paper returns must
be submitted to earlier deadlines than electronic reporting.
Q What are Cash Ratio Deposits?
A Cash ratio deposits (CRDs) are non-interest bearing deposits
lodged with the Bank of England by eligible institutions (ie.
banks and building societies), who have reported average eligible
liabilities (ELs) of over £500 million over a calculation
period. The level of each institution’s CRD is currently
calculated twice-yearly (currently in May and November) at 0.11%
of average ELs, over the previous six end-calendar months, in
excess of £500mn.
Q What are CRDs used for?
A The interest earned from the deposits is used by the Bank
towards funding its operations.
Q Is my institution eligible to pay a CRD?
A All institutions who submit balance sheet data to the Bank are eligible to pay a CRD, but only those
whose average, over a six month calculation period, eligible
liabilities (BT item £46) is in excess of £500mn
will be called up on to do so.
Q What are eligible liabilities?
A Eligible liabilities comprise, in broad terms, sterling deposit liabilities, excluding deposits with an original maturity of over two years, plus any sterling resources obtained by switching foreign currencies into sterling. Interbank transactions (excluding cash ratio and special deposits with the Bank of England) are taken into the calculation of an individual institution’s eligible liabilities on a net basis, irrespective of term, except for unsubordinated capital market instruments with a maturity of five years or more (more than five years from 1992) which are not taken into account. Adjustments are also made in respect of transit items and liabilities and claims under sale and repurchase agreements.
