Statistical Notices to Reporting Banks 1999/02
Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To add names to the circulation list please contact the Domestic Banking Statistics Helpdesk (tel. 0171-601 5360 or email mfsd_dbs@bankofengland.co.uk).
This Statistical Notice covers the following topics:
- Changed deadlines for all B1 and C1 reporters and increased reporting frequency for certain banks on Forms B1 and C1 (effective for the reporting period as at end-September 1999)
- Review of thresholds for reporting maturity analysis and risk transfer analysis on Forms B1 and C1 (effective as at end-September or end-December 1999)
- Classification of the European Central Bank (ECB) on Forms CC, CL, CH, B1, C1 and A2 (effective as at end-March for CC,CL and CH, end-June for B1 and C1 and end-December 1999 for A2)
- Forms H1(L) and QX cross form validations (update to Statistical Notice 1999/01)
- Classification of Channel Tunnel rail link related bonds (effective immediately)
- Scannable Excel 97 versions of forms on the Internet (update)
- Contents page and contact list for insertion into the Yellow Folder (update)
Any queries relating to the first three items should be referred to Mick Bollan or Elizabeth Ogborn, of the International Banking Statistics Group, on 0171-601 4450/5573, or e-mail at mfsd_ibs@bankofengland.co.uk.
Any queries relating to item 4 should be referred to Gary Leggett on 0171-601 5432.
Any queries on items 5 to 7 should be directed to the Helpdesk on 0171-601 5360.
1. Changed deadlines for all B1 and C1 reporters and increased reporting frequency for certain banks on Forms B1 and C1 (effective for the reporting period as at end-September 1999)
Background
The financial crises in East Asia and elsewhere, and the resultant turbulence affecting international financial markets have led to widespread calls for improvements in world-wide international banking statistics. In response, the central bank governors of the G10 countries have asked the Bank for International Settlements to take steps to improve the timeliness and frequency of the consolidated world-wide banking statistics. This work, carried out under the aegis of the Euro-Currency Standing Committee aims to improve the timeliness, coverage and quality of the data on the international credit exposures of banks to borrowing countries. The agreed improvements should, over time, result in a considerable shortening of the reporting and publication lags, an increase in the periodicity of the data, broader coverage in terms of reporting centres and financial instruments, and a more accurate picture of potential counterparty credit risk.
Implications for certain reporting institutions in the UK
The UK’s contribution to the consolidated data published by the BIS is sourced from information provided on Forms B1 and C1 by banks in the following categories:
- UK-owned banks reporting on a fully consolidated world-wide basis;
- UK incorporated banking subsidiaries with non-bank parents inside the BIS area;
- UK incorporated banking subsidiaries with bank parents outside the BIS area;
- UK branches of banks with head offices outside the BIS area.
The Bank, in consultation with the BBA and FSA, has obtained agreement to introduce more frequent and timely reporting on Forms B1 and C1 for these banks. Thus with effect from the quarter ending September 1999 all banks in these categories will be required to submit either Form B1 or Form C1 on a quarterly basis. All banks affected by this change have been informed separately by letter of the revised reporting requirements. Reporting institutions that do not fall into any of the above categories and have not been asked to change to quarterly reporting on either Form B1 or Form C1 should continue to report on the current (semi-annual) basis.
Revised submission deadlines for Forms B1 and C1 – all reporters
In order to comply with the tighter BIS deadlines for the release of the new quarterly consolidated data, and to allow more timely processing of semi-annual data; after consultation with the BBA, the submission deadlines both for semi-annual reporters, and new quarterly reporters have been reduced. For paper reporters, the submission deadline has been shortened by one week to seven weeks after the end of the reporting period. For electronic reporters, the revised submission deadline will be seven weeks and two working days after the end of the reporting period. Submission deadlines for Q3 1999 to Q3 2000 are shown below:
| Paper reporters | Electronic reporters | |
| Q3 1999 | 18 November 1999 | 22 November 1999 |
| Q4/H2 1999 | 18 February 2000 | 22 February 2000 |
| Q1 2000 | 19 May 2000 | 22 May 2000 |
| Q2/H1 2000 | 18 August 2000 | 22 August 2000 |
| Q3 2000 | 17 November 2000 | 22 November 2000 |
These dates will be included in the next update of reporting deadlines covering the period July 1999 to June 2000 to be issued by the end of April.
2. Review of thresholds for reporting maturity analysis and risk transfer analysis on Forms B1 and C1 (effective as at end-September or end-December 1999)
In order to alleviate some of the additional reporting burden caused by the changes detailed in item 1 of this Statistical Notice, the Bank has agreed with the BBA that the thresholds for reporting individual deals within the maturity analysis on Forms B1 and C1 will be raised. The threshold within the maturity analysis will be increased from £250,000 to £500,000. Within the risk transfer analysis the threshold on individual deals will be raised from £50,000 for institutions with capital and reserves of less than £50 million to £500,000, and for institutions with a capital base of more than £50 million from £100,000 to £500,000. The reporting guidelines will be amended and reissued in due course.
This will apply from the reporting period to end-September 1999 for new quarterly reporters, and from the reporting period to end-December 1999 for those banks which will continue to report on a semi-annual basis.
3. Classification of the European Central Bank (ECB) on Forms CC, CL, CH, B1, C1 and A2 (effective as at end-March for CC,CL and CH, end-June for B1 and C1 and end-December 1999 for A2)
Reporting institutions are advised that business with the European Central Bank (ECB) reported on Forms CC, CL, CH, B1, C1 and A2 should henceforth be classified as business with an EU Institution (Code EO). On each of these named forms the classification of EU Institution is a sub-set of Section A – International Organisations.
4. Forms H1(L) and QX cross form validations (update
to Statistical Notice 1999/01)
It has come to our attention that some of the cross form validations
for the Forms H1(L) and QX will not be applicable to all reporting
institutions.
Some reporting institutions may report issues of share capital on the Form QX (items QX19CD1 and QX19CD2) and also report levels of inward direct investment on the Form H1(L) (items HI2A, HI2B, HI3BA and HI3BB). For wholly owned subsidiaries of non-resident parents who report both forms, these amounts should be the same. However, other reporting institutions may legitimately report issues of share capital on the Form QX but not inward direct investment on the Form H1(L). In these circumstances, the cross form validations will fail but we will be happy to accept both forms.
If you have any queries regarding this matter, please contact Gary Leggett, Balance of Payments Group, Monetary and Financial Statistics Group, Bank of England, Threadneedle Street, London EC2R 8AH (tel. 0171-601 5432 or e-mail mfsd_bps@bankofengland.co.uk).
A revised set of cross form validations will be released at a later date.
5. Classification of Channel Tunnel rail link related bonds
(effective immediately)
On 10 February 1999 London & Continental Railways issued £1.65
billion of long-dated bonds to raise funds for the Channel
Tunnel rail link. These bonds carry a government guarantee
but reporting institutions should ensure that they are classified
as issued by 'other UK residents' (i.e. BT£32H / BE£32H2)
not by the public sector. It is expected that a further £1
billion issue will be necessary to complete the first stage
of financing and additional guidance will be provided if the
statistical treatment of this issue should differ from that
given above.
6. Scannable Excel 97 versions of forms on the Internet (update)
Forms B1 and C1 are now available on the Internet in a scannable
Excel 97 format. Following this addition, all statistical
forms, together with supervisory Forms BSD3, M1 and SLR1,
are now available in Excel 97 format on the Monetary and
Financial Statistics Division’s website (www.bankofengland.co.uk/mfsd/defs/excelint).
7. Contents page and contact list for insertion into the Yellow
Folder (update)
Follow this link for an updated
contents page for the Yellow
Folder and a new
telephone contact list detailing which Monetary
and Financial Statistics Division staff should be contacted
if you have technical queries on the various statistical forms.
Bank of England
Monetary & Financial Statistics Division
24 February 1999
