Statistical Notices to Reporting Banks 2001/05
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 Mark Duffy via e-mail mark.duffy@bankofengland.co.uk or on 020 7601 5624.
- Cash Ratio Deposits (effective immediately)
- Scanning of forms (effective immediately)
- Privatisation of National Air Traffic Services (effective immediately)
- Merchant acquirers (effective immediately)
- Form P1 clarification of definitions (effective immediately)
- Form QX clarification of definitions (effective immediately)
- Forms HI/HO clarification of definitions and amendment to cross form validation (effective end-December 2001 reporting)
- Eligible Banks List (update)
- Contents page for insertion in the yellow folder (update)
1. Cash Ratio Deposits (effective immediately)
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) in excess of £400 million over a six month calculation period.
The level of each institution’s CRD is calculated twice yearly (in May and November) at 0.15% of average ELs in excess of £400 million over the previous six end-calendar months. The next adjustment to CRDs is due to take place on Monday 3 December, based on data reported on BT item 46 (Total Eligible Liabilities) for the months of May through to October 2001. The deadline for revisions to ELs to be reflected in the 3 December adjustment is 5pm on Tuesday 20 November, call notices will be issued shortly thereafter.
Amendments to BT item 46 can be made via the usual contacts, but must be confirmed either in writing or by re-submitting the form. If you have any queries relating to CRDs please contact Sarah Waddington via e-mail at sarah.waddington@bankofengland.co.uk or on 020 7601 5505.
2. Scanning of forms (effective immediately)
In 1998 the Bank introduced scanners and Optical Character Recognition (OCR) technology to replace its manual inputting equipment. However, as the majority of reporters now submit their data electronically the need to continue to develop the OCR technology has lessened and the Bank has now decided it will cease to use the scanning equipment with immediate effect.
3. Privatisation of National Air Traffic Services (effective immediately)
The National Air Traffic Services (NATS) was part-privatised by the government on 27 July 2001. The public private partnership is between Airline Group, a consortium of seven UK airlines, which holds a 46% share, NATS staff who hold a 5% share and the government which holds a 49% share. For Bank of England reporting purposes, as 51% of NATS is owned by the private sector, it will no longer be classified as public sector but should be reported as a private company.
Banks who have NATS as a counterparty should in future classify them within Other UK residents on the form BT and PNFCs on the form BE (the form AL and AD classification will remain unchanged as Transport, Storage and Communication). If you have a position with NATS which you are currently reporting as Public Sector please amend this as outlined and advise us of the reclassified amounts by calling the Help Desk on 020 7601 5360.
4. Merchant acquirers (effective immediately)
Banks acting as merchant acquirers for credit/debit card transactions should report any funds received from credit/debit card schemes but not yet paid to merchants as items in suspense on the Form BT (BT item 8). This should be shown gross of any fees charged by the scheme which should be recorded within capital and other funds (BT item 19CD) as profit and loss (and on Form QX as 19CD5 and within item 6 on the Form A3). Fees received by the acquirer from merchants should also be treated as profit and loss and, if accrued, would initially be reported as other accrued receivables (BT item 35D).
An updated page 6 of the BT definitions is attached for insertion in the yellow folder. If you have any queries relating to merchant acquirers please contact the Help Desk on 020 7601 5360.
5. Form P1 clarification of definitions (effective immediately)
The definitions for Form P1 have been clarified in response to some reporters’ comments. A complete set of definitions is attached for insertion in the yellow folder.
6. Form QX clarification of definitions (effective immediately)
The definitions for Form QX Section 7 have been re-issued to clarify the definition to item XM2C (bonds and other capital of the reporting institution). An amended page 16 of the Form QX definitions is attached for insertion in the yellow folder.
7. Forms HI/HO clarification of definitions and amendment to cross form validation (effective end-December 2001 reporting)
The majority of changes to the definitions for Forms HI and HO reflect better clarity rather than changes to definitions. Also potentially confusing references to transactions, rather than levels, have been corrected. Those reporters that submit these data electronically are specifically asked to provide details in writing of any consolidation of affiliates into the report. Amended pages 1 and 3 of the HI/HO Form definitions are attached for insertion in the yellow folder.
The cross form validations between Form HI and QX have been corrected. Form HI must be equal to or less than the corresponding QX items. Amended pages for HI cross-form and QX cross form validations are attached for insertion in the yellow folder.
Should you have any queries relating to Forms HI and HO please contact Sheila Watson via e-mail at sheila.watson@bankofengland.co.uk or on 020 7601 4337.
8. Eligible Banks List (update)
The Gilt Edged & Money Market area of the Bank recently re-issued the list of institutions whose acceptances are eligible for discount at the Bank of England. An updated Part V.3 of the Classification of Accounts guide is attached for insertion in the yellow folder.
9. Contents page for insertion in the yellow folder
(update)
Attached.
Bank of England
Monetary & Financial Statistics Division
8 November 2001
