Statistical Notices to Reporting Banks 2000/06
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. 020 7601 5360).
- Form EIR - Effective Interest Rates Return (formerly Form RIR) (effective end-September 2000 reporting).
- Introduction of Forms HI and HO - Replacement of Form H1(L) (effective end-December 2000 reporting).
- Bank of England Euro Notes (effective end-January 2001 reporting).
- Change in reporting of banks' acceptances of other banks' bills of exchange (effective end-January 2001 reporting).
1. Form EIR - Effective Interest Rates Return (formerly Form RIR) (effective end-September 2000 reporting).
Here are the definitions for Form EIR (formerly Form RIR), which will now be included in the Banking Statistics yellow folder (new dividers for which will be issued in due course). The definitions are more detailed than those available for Form RIR and expand current reporting practice. The definitions examine several areas in detail, particularly when daily balances can be 'estimated'.
The structure of Form EIR is unchanged from that of the existing Form RIR. The change to the name has been made to comply with European terminology. Form EIR now has a 15 day reporting deadline which is effective from end-September returns (due on 20th October 2000).
Banks required to complete Form EIR have already been contacted by the Bank, although it will be necessary to review the reporting panel from time to time. The inclusion of banks in the panel is based on balance sheet size and size of business/market share in any particular economic sector. This is to ensure the maximum economic coverage. Institutions completing Form EIR will continue to be able to report these data on a "best endeavours" basis (guidance on best endeavours can be found in section 1 - "Accurate and timely reporting", within the General Notes and Definitions of the yellow folder). For this particular return banks should take any reasonable opportunity to enhance systems so that reliable data can be supplied by September 2004 (September 2002 for all other returns).
This copy of Form EIR is for insertion in the yellow folder (to be used for reference only). An excel version of this form to be used with effect from end-September 2000 and will be available on the Bank of England's website in September. The existing BEERS Technical Specification available on the website remains unchanged. New paper EIR forms will be posted to banks in mid-September 2000.
Institutions experiencing problems completing this form should contact Jim Thame (tel: 020 7601 3555)
2. Introduction of Forms HI and HO - Replacement of Form H1(L) (effective end-December 2000 reporting).
With effect from end-December 2000 Form H1(L) - Levels of direct investment (both inward and outward) with non-residents will be replaced by two new forms. These will be:-
Form HI Country Analysis: Levels of inward foreign direct investment
Form HO Country Analysis: Levels of outward foreign direct investment
Many of the changes which these forms introduce are a direct result of feedback from reporting institutions following two cycles (1998 and 1999) using Form H1(L). Also included here are the Form HI/HO definitions and validations.
The principal change is to divide the Form H1(L) into two discrete forms. These deal separately with inward and outward investment. Other changes are designed to make the new returns consistent with other Bank of England forms, for example, by listing country codes vertically rather than horizontally. Section headings within the new forms have been made more explicit to make completion clearer.
Finally there is an additional requirement for reporting banks to separately identify capital raised through non-resident special purpose vehicles within the entirely new section 4 of Form HI (Country analysis: Levels of inward foreign direct investment).
These new forms are to be used with effect from end-December 2000 and will be available on the Bank of England's website in September, banks submitting paper versions of the new returns are reminded that these must be identical to the Bank of England version.
The BEERS Technical Specification will also be available on the website in September. New paper HI and HO forms will be posted to banks in December 2000.
Institutions experiencing problems completing these forms should contact Mick Bollan (tel: 020 7601 5432).
3. Bank of England Euro Notes (effective end-January
2001 reporting).
As announced on 21 March 2000, the Bank of England will be taking
over from HM Treasury as the issuer of three-year Euro Notes
with effect from January 2001. These notes issued by the Bank
of England will be termed Bank of England Euro Notes and will
be obligations of the Bank of England. Outstanding UK Government
Euro Treasury Notes will remain obligations of HM Treasury until
they mature. The Bank plans to make the first issue of these
notes in January 2001. Banks' own holdings of Bank of England
Euro Notes should be entered in the balance sheet return (Form
BT) in a new line 32L and custodial holdings lodged by non-residents
in a new line AL. Associated changes to Section 3 of Form QX
have also been made (two new lines XHK and XJK have been added).
An excel version of the new form BT to be used with effect from end-January 2001 for BT monthly reporters and end-March 2001 for BT quarterly reporters will be available on the Bank of England's website in September, together with the excel version of the new form QX to be used from end-March 2001. These copies of forms BT and QX (to be used for reference only) can be downloaded for insertion into the yellow folder. Banks submitting paper versions of the new returns are reminded that these must be identical to the Bank of England version. The BEERS Technical Specification will also be available on the website in September. New paper BT and QX forms will be posted to banks in December 2000 and February 2001 respectively.
4. Change in reporting of banks' acceptances of other banks' bills of exchange (effective end-January 2001 reporting)
Change in reporting of banks' acceptances of other banks' bills
of exchange(effective end-January 2001 reporting).
In March 2000, the Bank of England lifted the restriction on
banks drawing bills of exchange and Statistical Notice 2000/02 outlined how to report drawings and acceptances of these bills.
Banks were asked to report outstanding acceptances (other than
those already discounted by the reporting institution) in BT
item 41B (Acceptances: Monetary financial institutions in the
UK other than banks and building societies) as a temporary measure.
A new line 41K (Acceptances: UK banks other than the Bank of
England) has now been added to Form BT and banks are asked to
switch reporting of these items to this new line from end-January
2001. The Bank of England will move all data previously reported
in BT item 41B to this new box at this point.
The amended Form BT, incorporating the new lines for reporting the acceptances of UK banks' bills and holdings of Bank of England Euro Notes should be completed from end-January 2001 for BT monthly reporters and from end-March 2001 for BT quarterly reporters. As stated earlier in this notice, an excel version of the new Form BT will be available on the Bank of England's website in September, but this should not be used for statistical reporting until submitting data for end-January 2001. Again, these copies of forms BT and QX (to be used for reference only) can be downloaded for insertion into the yellow folder. The BEERS Technical Specification will also be available on the website in September. New paper BT forms will be posted to banks in December 2000. Banks submitting paper versions of the new returns are reminded that these must be identical to the Bank of England version.
For ease of reference a complete set of Form BT definitions is attached, as well as revised internal and cross-form validations. Amended BT internal validations are 86, 104, 105 and 106 which remain in their previous positions, and a new cross-form validation is 607 which can be found at the end of the list. The Form CA cross-form validations are also re-issued with amendments to validations 23 and 47.
Bank of England
Monetary & Financial Statistics Division
31 August 2000
