Statistical Notices to Reporting Banks 2003/03
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 020 7601 3644
- Cash Ratio Deposits (effective immediately)
- Sector classification of schools (effective end-September 2003 reporting)
- Sector classification of BUPA (effective end-September 2003 reporting)
- Form PL - updated form, definitions and validations (update)
- List of Bank Holding companies (update)
- Electronic reporting - encryption upgrade (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 2 June, based on data reported on BT item 46 (Total Eligible Liabilities) for the months of November 2002 through to April 2003. The deadline for revisions to ELs to be reflected in the 2 June adjustment is 5pm on Tuesday 20 May, 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 (Tel.020 7601 5505).
2. Sector classification of schools (effective end-September 2003 reporting)
The sector classification of schools is complex as there are
many different kinds of schools. It has been brought to our
attention that the Yellow Folder is not entirely clear in its
guidance. The following explains how different types of schools
should be classified.
Amended pages of the Classification of Accounts Guide are attached for insertion in the Yellow Folder.
Grant-maintained schools
Grant-maintained schools are funded by a grant from the central
government that is channelled through the local government,
and these schools are controlled by local government. While
they used to be classified as central government until 1999,
they should have been classified as local government ('local
authorities' on Form BT) since then. The entry under NPISH has
been removed; the entry under local government (local authorities)
remains.
State schools
State schools are run by local education authorities, which
are part of the local councils. Therefore, these schools should
be classified as local government ('local authorities' on Form
BT). An entry for state schools has been added under local government
(local authorities).
Independent (ie public) schools
Privately run schools fall into the corporate sector in national
accounts statistics. They should therefore be classified as
non-financial corporations. An entry has been added under non-financial
corporations other than public corporations.
City Academies
These are schools that are controlled by, and receive funding
directly from, central government and should be classified as
central government. Currently, this arrangement is the exception.
An entry has been added under central government.
On the Forms AD and AL, all schools should be classified under
Line 12 "Education". The industrial classification
guide does not need to be amended.
When submitting end-September 2003 data, please advise us via
e-mail at or in writing,
to the usual address.
If you have any queries relating to classification please contact
the Help Desk on 020 7601 5360.
3. Sector classification of BUPA (effective end-September 2003 reporting)
The insurance unit of BUPA should be classified as a financial corporation on Form BE and under Line 16 "Insurance companies and pension funds" on Forms AD and AL. The unit that runs hospitals should be classified as a non-financial corporation on Form BE and under Line 13 "Health and Social work" on Forms AD and AL. BUPA should not be classified as NPISH.
The entry "BUPA Hospitals" has been moved from the NPISH section of the Classification of Accounts Guide into non-financial corporations. An entry for "BUPA health insurance" has been added under financial corporations.
Updated pages of the Classification of Accounts guide are attached (sector classification, industrial classification) for insertion in the Yellow Folder.
This classification of BUPA is effective from end-September 2003 reporting. When submitting end-September 2003 data, please advise us either via e-mail or in writing, to the usual address. If you have any queries relating to classification please contact the Help Desk on 020 7601 5360.
4. Form PL - udpated form, defintions and validations (update)
Following the meeting of the BBA Statistical Committee on 7 March 2003 and a number of questions from reporting institutions, we have made some additions to the set of Form PL definitions and internal validations sent out in Statistical Notice 2002/09 and have also broken down one item on the form into two parts. Please find attached an updated form, set of definitions and also a set of internal and cross-form validations (and validation form), with the changes highlighted.
The main changes are as follows:
i. A new definition for net spread earnings
ii. More detail on our preferred treatment of netting/pooling
arrangements
iii. The inclusion of a section in the appendix on revisions
and prior period adjustments.
iv. The inclusion of internal validations on the PL related
to total interest payable and its breakdown by instrument, and
to dividends received from non-residents.
v. The splitting of "benefits in kind" into expenditure
(item 12AF) and foregone income (memorandum item 23). As a result,
the "method used for translation of foreign currency into
sterling" has the new item code M.
If you have any questions about changes to the Form PL, please contact the Bank via e-mail, or contact Martin Udy (Tel.020 7601 4731). We have now incorporated a "frequently asked questions" (faq) page on the Bank's website for these forms. The faq page for Form PL can be found here and faq page for Form ER can be found here
A revised technical specification incorporating these changes,
for electronic reporters, is now available on the Bank's web
site. All Software
Houses have been sent a copy of this document.
If you have any queries relating to electronic reporting please
contact Bonnie
Hill (Tel. 020 7601 5501).
5. List of Bank Holding companies (update)
The list of Bank holding companies, within the sector definitions section of the Classification of Accounts Guide has been updated, and can be found here.
6. Electronic reporting - encryption upgrade (update)
The Bank of England Electronic Reporting System (BEERS) currently
uses an encryption package produced by Sophos called PUBLIC
version 4. This software has been in place since the inception
of BEERS and is now regarded as old technology. Although it
provides a degree of security, we have been working with Sophos
to increase the level of protection significantly following
informal comments from banks. As a result, Sophos have developed
PUBLIC version 5 which we have tested. Although we intend to
accept both versions of encryption for an overlap period, we
strongly recommend that software houses and banks upgrade their
systems.
To acquire the new version of the encryption software:
i. Raise a purchase order and fax it to Sophos Plc on 01235
559935. Or post it to Sophos PLC, Abingdon Science Park, Abingdon,
OX14 3YP.
ii. Sophos will then send a username and password to allow
access to the download section of the Sophos website .
This will also include the documentation and licence.
iii. The charge will be £895 (plus VAT) for each licence
of PUBLIC 5.
iv. Any questions can be directed to Jonathan Brooks at Sophos
on 01235 544042.
v. The user name and password will be valid for a limited time
You may have to contact your software house if you need help installing this. If you do not use a software house system and you are having problems upgrading, please contact Julie Bigwood (Tel.020 7601 4544) or Bonnie Hill (Tel.020 7601 5501) who will try to help.
Bank of England
Monetary & Financial Statistics Division
15 May 2003
