Statistical Notices to Reporting Banks 2006/01
Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list please contact Stuart Jordeson (Tel. 020 7601 3644).
- Reporting of write-offs on Form QX (reminder & clarification)
- Update to the Classification of Accounts Guide(effective immediately)
- Reclassification of British Broadcasting Corporation (BBC) and Channel 4 Wales (S4C) (effective end-January 2006 reporting)
- Increased tolerances on Form BG (effective Q1 2006 reporting)
- Reporting of derivatives net spread earnings on Form PL (effective Q2 2006 reporting)
- Form BE definitions (update)
- Form Q1(D) definitions (clarifications)
- Reporting of credit default swaps on Forms CE and C1 (clarification)
- Significant and/or strategic proposals for Bank of England reporting (information)
- Publication schedule 2006/07 (update)
- Contents page for Yellow Folder (update)
1. Reporting of write-offs on Form QX (reminder and clarification)
Banks that have reported write-offs or write-ons in Section Four of the
Form QX during any quarter in 2005 are reminded that they are also required
to report Section Five of the Form QX with their December 2005 return.
As Section Five is completed on an annual basis with the December
return, it should contain a full sector analysis of all write-offs to UK
residents that have been reported in Section Four of the Form QX during
2005. Therefore, if you have reported write-offs or write-ons to UK residents
in Section Four (item XKQ) in any quarter of 2005, the total reported in
Section Five (item XK) would be the sum of all write-offs and write-ons
to UK residents reported during 2005 in item XKQ in Section Four.
We have also taken this opportunity to update the definitions
for sections four and five and fully updated pages are attached.
These do not alter the reporting instructions, but we hope
that they will clarify
a number of issues surrounding the reporting of these sections.
If you have any queries relating to Form QX please
contact Alastair
Thomas (Tel.
020 7601 5481) or Stephen
Burgess (Tel.
020 7601 5356).
 |
Form QX definitions |
2. Update of Classification of Accounts Guide (effective
immediately)
The list of holding companies and the list of
securities dealers have both been updated.
Related resources
|
Classification of Accounts Guide (Sector Categories) |
3. Reclassification of British Broadcasting Corporation
(BBC) and Channel 4 Wales (S4C) (effective end-January
2006 reporting)
The BBC and S4C are to be reclassified from Public
Corporations (items BT2G, BT3G, BT6G, BT7G, BT29C,
BT30G, BT31G and BT41E) to Central Government
(items BT2E, BT3E, BT6E, BT7E, BT29A, BT30E,
BT31E and BT41C).
Any existing business should be reclassified
with effect from end-January 2006 reporting.
When submitting end-January data please advise
either Alastair
Thomas (020
7601 5481) or Simon
Davis (020 7601 5468) of any reclassifications.
The sector classification lists for Public Corporations
and Central Government have been updated.
If you have any queries relating to classification
please contact the Help Desk on 020 7601 5360.
Related resources
|
Classification of Accounts Guide (Sector Categories) |
4. Increased tolerances on Form BG (effective Q1 2006 reporting)
In Statistical notice 2005/04 banks were notified of the
increase in frequency of Form BG to quarterly from Q1 2006.
At the same time we introduced a new tolerance threshold
for reporting the ‘Unallocated by country’ classification
and we have recently been asked to clarify this tolerance
threshold.
From Q1 2006 reporting we have introduced a tolerance
threshold of £1mn for each calendar year which can
be reported as unallocated by country for items BG9 and
BG10. This means that for Form BG annual reporters up to £1mn
can be reported in the unallocated category in their single
full year return. For Form BG quarterly reporters the sum
of the unallocated figures during the year can be up to £1mn.
If banks have any difficulties reporting within
these tolerances please contact a member of the Form BG
team as below.
We have also taken this opportunity to update the
reporting thresholds, to reflect those for quarterly
and annual Form BG.
Should you have any queries relating to Form BG
please contact Bonnie
Howard (020 7601 4174), Martin
Udy (020 7601
4731) or Gemma
Doyle (020 7601 4480).
Related resources
 |
Statistical Notice 2005/04 |
|
Updated reporting thresholds |
5.Reporting of derivatives net spread earnings on Form PL (effective Q2 2006 reporting)
Reporting of derivatives net spread earnings (item PL8CA) was
made optional at the time Form PL was introduced given the
uncertainty about the availability of these data. The majority
of the larger
banks have been reporting the data for some time and we are
satisfied with data quality. Net spread earnings data are used
by the Office
for National Statistics (ONS) and from 2006 will contribute
directly to National Accounts, GDP and the Balance of Payments.
We are
therefore planning to withdraw the optional status of this
item from Q2 2006 reporting.
This is mainly to ensure continuation of the existing data
series and we will continue to base reporting requirements
of any individual banks on the materiality of the figures
they can
contribute. Only banks contributing at least £25mn per quarter
will be asked to report. We are in discussion with a number of
banks about the possible methods for producing these figures.
If any other banks believe they could contribute significant figures
(at least £25m per quarter) and are currently not reporting
please contact the PL team to discuss possible methodologies.
Updated pages of the Form PL definitions are attached, if you
have any queries relating to these changes please contact either
Bonnie Howard or Martin Udy as above.
Related resources
|
Form PL definitions |
6.Form BE definitions (update)
An error within the definitions for Form BE has been discovered; the definitions
for Items 29D3D and 29D3E had been replicated by mistake. This has
been corrected and amended pages of the Form BE definitions are available
below.
If you have any queries relating to Form BE please contact Martin
Daines (020 7601 5600).
Related resources
|
Form BE definitions |
7.Form Q1(D) defintions (clarification)
Following on from some recent discussions with reporting banks, we have
clarified some of the Q1(D) definitions, in particular for Items XFKBB
(gross advances in the month) and XFKF1 (gross new lending in the month).
A fully
updated copy of the Form Q1D definitions is attached. These do not
alter the reporting instructions, but we hope that they will clarify a number
of issues surrounding the reporting of this
form.
If any of this clarification results in a significant amendment (over £50mn)
to your reporting, or if you have any queries relating to these changes
please contact Erica Wong-Min (0207
601 4145).
Related resources
|
Form Q1(D) definitions |
8. Reporing of credit default swaps on Forms CE and C1 (clarification)
We have updated the definitions for Forms CE and C1 to clarify the
reporting of the sale of credit default swaps under guarantees.
Sales of credit default swaps that fall under guarantees should be
reported
at face value rather than mark to market.
If you have any queries relating to this please contact Robert
Edwards (020 7601 5573).
Related resources
|
Form CE definitions |
|
Form C1 definitions |
9.Signifcant and/or strategic proposals for Bank of England reporting (information)
The Bank of England compiles a list, twice yearly, of significant and/or strategic proposals for Bank of England reporting which is sent to the British Bankers' Association (BBA). The proposals are negotiated with the BBA and its Banking Statistics Panel, a representative forum drawn from its members. Should reporters wish to contribute to these discussions, they should contact David Dooks at the BBA (Tel: 020 7216 8837), but publication of this list (available on our website at www.bankofengland.co.uk/statistics/about/BBAlist.pdf) gives reporters advance notice of the areas of the reporting framework under consideration and possible timescales for change.
Related resources
|
BBA List |
10. Publication schedule 2006/07 (update)
The 2006/2007 publication schedule has been updated with release dates for Mortgage Equity Withdrawal publication.
Related resources
|
Publication Schedule 2006/07 |
11.Contents page for Yellow Folder (update)
|
Updated contents page for Yellow Folder |
Bank of England
Monetary & Financial Statistics Division
26 January 2006
