Statistical Notices to Reporting Banks 2006/06
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).
- Classification of accounts guide (effective immediately)
- General Notes & Definitions(effective immediately)
- Form MQ validations (effective immediately)
- International Financial Reporting Standards (IFRS) (information)
- Statistical reporting seminars (replies by 31 October)
- Reclassification of Bournemouth Transport Ltd, Museum of London and QineiQ Group plc (effective end-October reporting)
- Publication schedule for 2007/2008 (update)
- Contents page for Yellow Folder (update)
1. Classification of accounts guide (effective immediately)
The lists of building societies, bank holding companies and international organisations within the sector categories section of the classification of accounts guide have been updated.
Related resources
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Updated classification of accounts guide |
2. General Notes & Definitions (effective immediately)
The General Notes & Definitions section of the Yellow Folder has been updated. All previous references to updates have been removed.
Related resources
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Updated General Notes & Definitions |
3. Form MQ validations (effective immediately)
The internal validations for Form MQ (reported only by non-bank mortgage lenders) have been corrected. Items MQ£12, MQE12, MQC12, MQ£26, MQE26 and MQC26 are affected.
Updated validations have been sent to individual reporters of the form and can also be found on the Bank's website.
If you have any queries relating to Form MQ, please contact Natasha Moss ( Tel. 020 7601 3908)
Related resources
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Link to MQ Validations page |
4. International Financial Reporting Standards (IFRS) (information)
In 2004, the Bank held a series of meetings with bank and building society representatives to consider the potential impact on statistical source data due to the prospective move to IFRS based financial reporting by some institutions from 2005. The conclusion at that time, as set out in Statistical Notice 2004/06, was that, notwithstanding the Bank's view that adoption of IFRS accounting principles would lead to closer alignment with international statistical standards in many areas of reporting, individual institutions' IFRS based statutory financial reporting would typically make use of macro adjustments at portfolio level so that reporters favoured retention of existing yellow folder guidance until such time as new fully integrated IFRS based management systems had been developed.
Over the past six months the Bank has become aware that some banks have system developments in hand which favour the delivery of statistical returns on an IFRS-basis. Accordingly, in April 2006, the Bank commissioned an update of an earlier paper reviewing those aspects of IFRS accounting where important conceptual differences from current statistical reporting guidance were believed to remain. This paper was sent to the BBA in July for circulation to its Banking Statistics and Financial Reporting Panels. An updated version of this paper will be available from the Bank's website shortly.
The Bank would welcome approaches from any reporter for whom the development of new IFRS based information systems may impact on their ability or preference to deliver statistical data on the current yellow folder definitions. The Bank expects to issue updated guidance in due course but currently seeks more information on the nature, extent and timing of such reporting issues. Feedback is invited, either via the BBA/BSA or direct to the Bank. Where appropriate, the Bank will be pleased to meet with reporters to discuss specific difficulties.
If you have any queries relating to IFRS or would like to provide us with feedback, please contact Tarkus Frost (Tel. 020 7601 5478).
5. Statistical reporting seminars (replies by 31 October please)
We will be running some briefing seminars towards the end of November this year. These will cover the following:
Half day for beginners (afternoon of Wednesday 22 November)
Overview of the cost benefit analysis project
CRDs, reporting populations, statistical notices and the Yellow Folder
Data reception
A brief overview of what we publish and where you can access this
General overview of forms (specifically Form BT and PL)
Half day for specific forms (afternoon of Tuesday 28 November)
Overview of the cost benefit analysis project
A brief overview of how the data are used
Forms BT, BE, Q1(D), AD, AL and QX
Half day for specific forms (morning of Wednesday 29 November)
Overview of the cost benefit analysis project
A brief overview of how the data are used
Forms PL, BG, HI, HO, QX Section 7, ER and "C" Forms
The two specific form sessions are aimed at those with less experience of the forms and will cover:
- Common problem areas where reporting is open to misinterpretation
- The plausibility process including thresholds and examples of good and bad answers
- Any changes to forms during the last year
- Our timetable
To help us make the sessions as focussed as possible we would be grateful if banks could provide us with details of any specific problem area(s) when they apply for places.
As before, the seminars will be held in the Conference Centre here at the Bank. For your convenience a form for your reply can be downloaded below.
Please contact Irene Coleman (Tel. 020 7601 5465) indicating which session(s) you would like to attend.
Related resources
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Download word version of seminar reply slip |
6. Reclassification of Bournemouth Transport Ltd, Museum of London and QinetiQ Group plc (effective end-October reporting)
Bournemouth Transport Ltd and QinetiQ Group Plc have been reclassified by the Office for National Statistics (ONS), from a Public Corporation (Items BT2G, BT3G, BT6G, BT7G, BT26C, BT29C, BT30G, BT31G, BT32G and BT41E) to a Private Company (Items BT2H, BT3H, BT6H, BT7H, BT26F, BT29D, BT30H, BT31H, BT32H and BT41F).
Museum of London has been reclassified by the ONS, from a Local Government body (Items BT2F, BT3F, BT6F, BT7F, BT26B, BT29B, BT30F, BT31F, BT32F and BT41D) to a Central Government body (Items BT2E, BT3E, BT6E, BT7E, BT26A, BT29A, BT30E, BT31E, BT32D and BT41C).
Any existing business should be reclassified with effect from end-October 2006 reporting relevant pages of the Classification of Accounts guide have been updated.
When submitting end-October 2006 data, please advise Alastair Thomas (Tel. 020 7601 5481) or Sarah Griffin (Tel. 020 7601 5468) of any reclassifications in excess of £10mn.
Related resources
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Updated Classification of Accounts guide |
7. Publication schedule for 2007/2008 (update)
The publication schedule for 2007/2008 is now available to view and/or download from our website.
Related resources
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Link to updated publication schedule |
8. Contents page for Yellow Folder (update)
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Updated contents page |
Bank of England
Monetary & Financial Statistics Division
4 October 2006
