Statistical Notices to Reporting Banks 2007/04
Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list please contact Lucy Nattrass (Tel. 020 7601 5361).
- Bank of England Securities (effective end-March 2007 reporting)
- General Notes & Definitions (effective immediately)
1. Bank of England Securities (effective end-March 2007 reporting)
In Market Notices published in December 2006 and February 2007 the Bank of England announced details of how it will change the way it finances its foreign exchange reserves. The previous euro note programme is to be replaced with the annual issuance of medium-term securities. The first issue, a US dollar transaction, was issued in the week beginning 12 March 2007. As announced in Statistical Notice 2007/03, in order to accommodate this change in financing, the coverage of balance sheet items BT32L and BTAL will be broadened to cover all Bank of England securities, whether issued in euro or other currencies. The items will therefore be renamed to 'Bank of England securities' and an 'other currencies' box will be introduced. These changes will be introduced with other changes to the BT form in October 2007. Any holdings of the US dollar issue should be reported in items 32L or AL in the euro column on the current form before being transferred to the 'other currencies' column on the new form, from October 2007.
If you have any queries relating to this, please contact Matt Davies (Tel. 020 7601 4166).
2. General Notes & Definitions (effective immediately)
The General Notes and Definitions section of the Yellow Folder has been updated to ensure correctness. Within item 9, the second bullet shown against 'In the euro column', should be the first bullet within 'In the other currencies column', the entries have been re-aligned to reflect this. This amendment has not been annotated as this is a drafting revision. The latest Notes and Definitions can be found here.
Bank of England
Monetary & Financial Statistics Division
14 March 2007
