Statistical Notices to Reporting Banks 2003/07
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 Irene Coleman (Tel. 020 7601 5574).
- Cash Ratio Deposits (effective immediately)
- Seminars (replies by 21 November 2003 please)
- Forms B1, C1 and CL (correction)
- Cross form validations for Form CL with CH and CL with BT (effective March 2004 reporting)
- Central Monetary Institutions Update (effective March 2004 reporting)
- International Accounting Standards (information)
- Forms MM and MQ (reminder)
- Contents page for 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 1 December,
based on data reported on BT item 46 (Total Eligible Liabilities)
for the months of May through to October 2003. The deadline
for revisions to ELs to be reflected in the 1 December adjustment
is 5pm on Wednesday 19 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 (Tel. 020 7601 5505).
2. Seminars (replies by 21 November 2003 please)
We will be running one briefing seminar at the end of this
year and another next March. We intend to run half-day sessions
broadly as follows:
Half-day General Seminar on reporting (afternoon of Tuesday
2 December 2003)
Data Reception
CRDs
Outputs/Internet
General Overview of forms (specifically Form BT)
EMU Forms (ECB Update)
General Overview of balance of payments forms (HI/HO, P1, QX
Section 7)
General Overview of "C" forms
Half-day specific forms (afternoon of Wednesday 3 March 2004)
Forms BT, BE, Q1(D), AD, AL, QX
As before, the seminars will be held in the Conference Centre
here at the Bank. Please let us know which session(s) you
would be interested in and if there are any specific subjects
you
would like covered, or general questions you would like
answered; for your convenience a form for your reply can
be found here.
Alternatively, please contact Irene
Coleman (Tel. 020 7601
5574).
Details of the actual agenda for the seminars will be sent
with the confirmation letters. If you have any questions
about the
seminars, please contact Irene.
3. Forms B1, C1 and CL (correction)
The new version of Forms B1, C1 and CL, which were released
in Statistical
Notice 2003/04, to be used with effect from end-December
2003 reporting, omitted Sri Lanka (LK) by mistake. These forms
have been amended and are attached (B1, C1, CL).
If you have any queries regarding these forms please contact
Kerry Baker (Tel
020 7601 3754).
4. Cross form validations for Form CL with CH and CL with BT (effective March 2004 reporting)
We have identified some additional cross form validations between
Forms CL and CH, and Forms CL and BT. Updated pages are available
(CH, CL, BT) for insertion in the Yellow Folder.
If you have any queries regarding these changes, please contact
Kerry Baker (Tel. 020 7601 3754).
5. Central Monetary Institutions update (effective March 2004 reporting)
Six countries have been added to the regional allocation of Central Monetary Institutions within Section III.12 of the Classification of Accounts guide; amended pages can be found here for insertion in the Yellow Folder.
For further information please contact Pat O'Connor (Tel. 020 7601 4450)
6. International Accounting Standards (information)
Many reporters are considering systems development in preparation
for the implementation of International Accounting Standards
(IAS) and have sought advice from us on whether changes will
be required for statistical reporting as a consequence. A project
to look at the implications is being undertaken by the Bank
over the next six to nine months, in liaison with international
statistical bodies, the Office for National Statistics, the
British Bankers' Association and users of the data.
As standards are not yet final, it is difficult to issue precise
statistical guidance, but the most relevant standards covering
financial instruments, IAS32, "Financial Instruments: Disclosure
and Presentation" and, IAS39, "Financial Instruments:
Recognition and Measurement", are giving rise to the following
thinking:
- Indications are that the proposed marked-to-market or 'fair value' approach for marketable instruments will be compatible with statistical requirements. However, the same treatment for non-tradable instruments (and in particular loans and deposits), if adopted by institutions, would be contrary to the statistical requirements (see page 9, General Section of the Yellow Folder, paragraph 8b).
- The reporting of interest flows separately from fees and commissions (as currently outlined on the new Forms PL and ER) may be affected by the IAS definition of interest, but the statistical need is to retain the distinct identification of the two revenue streams.
If you have detailed questions about the possible impact of IAS on statistical reporting, please contact Anne Smith (Tel.020 7601 4216).
Forms MM (Specialist Mortgage Institutions, Analysis of Secured Lending to Individuals & Individual Trusts) and MQ (Specialist Mortgage Institutions' Balance Sheet), and their definitions are now available on our website
8. Contents page of Yellow folder (update)
Can be found here
Bank of England
Monetary & Financial Statistics Division
14 November 2003
