Statistical Notices to Reporting Banks 2004/05
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 Leigh Church (Tel. 020 7601 3644).
- Classification of Accounts Guide, Sector Defintions (effective immediately)
- Reporting thresholds (effective end-December 2004 reporting)
- Forms B1, C1, CE definitions (effective end-December 2004 reporting)
- Form G Validations (effective end-March 2005 reporting)
- Reconciliation matrix for Form PL (information)
- Contents page for Yellow Folder (update)
1. Classification of Accounts Guide, Sector Defintions
(effective immediately)
Section III Sector Definitions of the Classification of Accounts
Guide has been fully updated. All previous references to updates
have been removed and a full, "clean" copy is attached for insertion in the Yellow Folder.
If you have any queries regarding classification, please contact the Help Desk on 020 7601 5360.
2. Reporting thresholds (effective end-December
2004 reporting)
We have recently completed a review of the reporting thresholds
for the main balance sheet returns. The aim of this review was
to assess the scope for minimising the reporting burden on banks
while retaining adequate coverage and maintaining data quality.
As a result, we will be increasing the existing thresholds
of 'total footings of £600mn or over or eligible liabilities
of £60mn or over' to 'total footings of £1,000mn
or over or eligible liabilities of £100mn or over'
with effect from end-December 2004 reporting. This affects the
criteria for reporting the Form BT monthly and for the other
returns that have the same reporting panel ie. Forms BE, AD,
AL and QX.
The threshold change is effective from end-December 2004 reporting
and towards the end of October, we will be writing to individual
banks whose reporting requirements will change. Please note
that in some cases the Financial Services Authority may require
reporters, whose footings and/or eligible liabilities are below
these thresholds, to continue to submit monthly balance sheet
data (although Forms BE, AD, AL and QX, will not be required
by the Bank); reporters will be notified if this is the case.
In the meantime, if you have any queries relating to your reporting requirements, please contact Sarah Waddington (Tel.020 7601 5505).
3. Forms B1, C1, CE definitions (effective
end-December 2004 reporting)
Following further consideration of the implication of the move
to International Accounting Standards (IAS39), the Bank for
International Settlements (BIS) have updated their guidance
with respect to valuation principles for the reporting of consolidated
banking statistics and as a consequence, the definitions for
Forms CE, C1 and B1 have been amended. These revised definitions
are now consistent with the valuation guidance indicated in
IAS39.
The paragraph on valuation of financial claims resulting from
derivatives contracts has also been updated in line with changes
recommended by the BIS.
Further information and guidance with respect to International
Accounting Standards will be provided in a forthcoming Statistical
Notice.
Revised pages of Forms B1, C1 and CE definitions are attached.
If you have any queries relating to these definitions, please
contact Vicki Black (Tel.020 7601 5573).
4. Form G Validations (effective end-March
2005 reporting)
Formal validations are now available for the new Form G (reported
by members of the London Bullion Market Association (LBMA)).
These validations have been sent to individual reporters of
the form and a copy is attached for information.
If you have any queries on Form G, its definitions or whether you are required to report it, please contact Mhairi Burnett (Tel.020 7601 3519).
5.Reconciliation matrix for Form PL (information)
A new item "Reconciliation matrix for Form PL" has
been added to the list of forms on the "Other forms, Definitions
and Validations" page on our website. This is for use in
an exercise that is being undertaken solely with the largest
UK owned banking groups on a consolidated basis and will not,
therefore, affect most of the reporting banks.
If you have any queries relating to this matrix, please contact Richard Button (Tel.020 7601 3814).
6. Contents page for Yellow Folder (update)
Attached.
Bank of England
Monetary & Financial Statistics Division
15 September 2004
