Statistical Notices to Reporting Banks 2002/05
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 Adam Greenland via e-mail at adam.greenland@bankofengland.co.uk or on 020 7601 5574.
1. RepoClear: inclusion of Gilt repo and associated cash products (effective immediately)
On 5 August, the London Clearing House announced that RepoClear, its centralised clearing facility, would be extended to include Gilt repo and associated cash products. Further to the guidance set out in statistical notice 2000/01, banks clearing repos through RepoClear and reporting net positions with the London Clearing House on Bank of England returns are asked to extend their positions to include Gilt repo with immediate effect. (The reporting of outright purchases of gilts is unaffected by these changes.)
Banks switching to this reporting this month, or in the future, are reminded to report their net positions with the London Clearing House as repos or reverse repos with other UK residents (Items 6H or 30H for Gilts, 7H or 31H for other paper) on the Form BT, with a sectoral classification of financial corporations (Items 6H1 or 30H1 for Gilts, 7H1 or 31H1 for other paper) on the Form BE, and an industrial classification of other activities auxiliary to financial intermediation (Item 17B on the Forms AD and AL). Institutions should also notify Martin Daines via e-mail at martin.daines@bankofengland.co.uk or on 020 7601 5356, providing details of gross positions and counterparties for that month only, so that distortions to calculated flows can be removed from the aggregate data.
Banks already known to be reporting positions with RepoClear on a net basis will be contacted separately to assess the impact on their balance sheet positions for August.
Bank of England
Monetary & Financial Statistics Division
16 August 2002
