Statistical Notices to Reporting Banks 2001/04
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 e-mail Amanda White (tel. 020 7601 5500).
- Reporting schedule amendment (effective immediately)
- Electronic UK National Accounts sector classification guide (effective immediately)
- Forms A3 and BP internal validations (effective end-September 2001 reporting)
- Preparation for possible UK entry into EMU (update)
- Country code list (update)
- Classification of accounts guide – sector definitions (update)
- Contents page for yellow folder (update)
1. Reporting schedule amendment (effective immediately)
The reporting schedules for end-July 2001 to end-June 2002 were issued with Statistical Notice 2001/03. It has since come to our attention that Form RSL was mistakenly omitted from the schedules for the months of November 2001 and May 2002.
This form is still required at these dates and is due on 21 December 2001 and 21 June 2002 respectively.
2. Electronic UK National Accounts sector classification guide (effective immediately)
The Office for National Statistics (ONS) has produced an electronic version of UK National Accounts sector classification guide. This can be found here.
The guide provides a list of institutions belonging to each sector and can be used as a reference guide to help classify firms on Forms BT and BE.
3. Preparation for possible UK entry into EMU (update)
Statistical Notice 2000/03, issued in April 2000, contained a suite of seven supplementary EMU reporting forms which Monetary Financial Institutions (MFIs) in the UK would have to complete in the event of UK entry into EMU. The forms capture data required by the European Central Bank (ECB) which are not readily available from the current Bank of England statistical returns. These requirements cover the analysis of residents of Monetary Union Member States by economic sector and a maturity analysis of deposit and lending categories.
During the past twelve months, some further enhancements for the reporting of balance sheet and flow statistics have been progressed at the ECB, which has involved an assessment of the costs for the reporting MFIs in all EU countries. The ECB are now preparing an amendment to the Regulation relating to MFI balance sheet statistics. This will expand the range of statistics considered essential for monetary policy purposes, by asking for data that are currently collected only on a quarterly basis, to be reported monthly and by asking for more detailed data on deposits, loans and securities. In addition, the ECB will request the collection of revaluations data to ensure good quality flow statistics. This will include for loans, the monthly reporting of write-offs/write-downs. And, the package will include collecting timely and comparable interest rates (including new business rates) for monitoring the transmission of monetary policy and assessing developments in the Euro banking markets.
The first data provision by Euro Area MFIs will be January 2003. The ECB intends to keep the reporting covered by this Regulation stable for at least five years, in order to relieve MFIs of further changes to the reporting forms for an extended period.
The Bank will now need to review the present suite of EMU returns in the light of the amended Regulation. Our present intention is to update the EMU forms in consultation with the BBA and to present changes to UK banks in a subsequent statistical notice.
If you have any comments or queries on the UK’s statistical requirements needed from UK entry into EMU, please contact Richard Walton either via e-mail at richard.walton@bankofengland.co.uk or on 020 7601 5453.
4. Forms A3 and BP internal validations (effective end-September 2001 reporting)
The internal validations for form BP have been amended to ensure consistency. At present, interest receivable from non-residents on debt (item 1D) is the sum of interest receivable on bonds and notes (1DAA) and interest receivable on money market instruments (1DB). The same relationship should also hold for the "of which from EU countries" data. This means that interest receivable from EU countries on debt (1DA) should equal the sum of interest receivable on bonds and notes from EU countries (1DAB) and interest receivable on money market instruments from EU countries (1DBA). The internal validations for form BP have been amended to take this into account.
Cumulative reporting of Forms A3 and BP has not been possible since January 2000; the internal validations of the form have been updated to acknowledge this. The box for the reporting basis of the form (RB) should equal zero for January 2000 data onwards; this is the same for Form A3, and an additional internal validation has been added to those for Form A3.
Copies of the amended pages to the internal validations for Form A3 and Form BP. If you have any queries regarding these changes, please contact Will Kerry, either via e-mail at will.kerry@bankofengland.co.uk or on 020 7601 4174 or Daniel Wallace on via e-mail at daniel.wallace@bankofengland.co.uk or on 020 7601 3584.
An updated country code list was issued with Statistical Notice 2001/02. We have since been asked to include the codes for gold, other currencies and special drawing rights on this list; these have been added at the end of the alphabetical country list. An amended list is attached.
6. Classification of accounts guide – sector definitions (update)
An amended page 9 and 10 of the Sector Definitions section of the classification of accounts guide is attached, for insertion in the yellow folder. This had been re-issued due to the reclassification of urban, new towns and regional Development Corporations to central government in notice 2001/02 which was mistakenly also still shown in public corporations within the guide.
7. Contents page for insertion in the yellow folder (update)
can be found here.
Bank of England
Monetary & Financial Statistics Division
15 August 2001
