Statistical Notices to Reporting Institutions 2008/04
Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list please contact Jenna Bassett (Tel. 020 7601 5500).
- Cash Ratio Deposits (effective immediately)
- Form WO validations (effective immediately)
- Classification of accounts guide (update)
- Form DQ definitions (update)
- Form BT/CA cross-form validations (update)
- Form CX definitions (clarification)
- Form CC validations (effective from end-June 2008 reporting)
- Reporting schedule (effective from July 2008)
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 £500 million over a six-month calculation period.
The level of each institution’s CRD is calculated twice yearly (in May and November) currently at 0.15%* of average ELs in excess of £500 million over the previous six months. The next adjustment to CRDs is due to take place on Monday 2 June, based on data reported on BT item 46 (total eligible liabilities) for the months of November 2007 to April 2008**.
The deadline for revisions to ELs to be reflected in the 2 June adjustment is 5pm on 19 May 2008, 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.
* HMT has announced its intention to reduce the ratio to 0.11%. A Draft Order was laid before Parliament on 2 April 2008, under section 40(2) of the Bank of England Act 1998, for approval by resolution of each House of Parliament.
** The CRD for building societies will be based on data reported via the Financial Services Authority for the months of November and December 2007, plus the data reported directly to the Bank via Form BT for the months of January to April 2008.
2. Form WO validations (effective immediately)
Reporting institutions should note that validations numbers 4, 5 and 6 for Form WO have been removed. Software Houses have been informed of the change and updated validations are available to download below.
Reporters should be aware that, although there are circumstances in which these checks might fail, they will hold in the vast majority of circumstances. The Bank will run some less formal checks on reported data to ensure that Item 1H > 1HA. The only circumstances in which this might not hold is if in a particular quarter a reporter has a net write-on of loans to non-real estate non-financial corporations.
If you have any queries relating to Form WO, please contact Jenny Gardner (Tel. 0207 601 5465).
Related resources
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Form WO validations |
3. Classification of Accounts Guide (update)
The Classification of Accounts Guide has been fully updated and all previous references to updates have been removed. Various lists that previously appeared in the Guide have been replaced by an appropriate web link to aid more timely updates.
The Industrial Classification section has been updated and now sets out the existing Standard Industrial Classification (SIC) 1992 and the new SIC 2007 methods of classification for reporting Forms AD and AL.
The updated Guide can be downloaded below, if you have any queries relating to this Guide please contact our Helpdesk on 0207 601 5360.
Related resources
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Classification of Accounts guide |
4. Form DQ definitions (update)
The DQ definitions have been re-issued with all previous references to updates removed. The new version of the Form DQ definitions can be downloaded below.
If you have any queries relating to Form DQ, please contact Pat O’Connor (Tel. 020 7601 4450).
Related resources
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Form DQ definitions |
5. Forms BT/CA cross-form validations (update)
A minor error has been discovered within the BT validations. The total of BT Item 32 should cross-form validate to CA Item C11, the validations currently show the breakdown of the BT item cross-form validating to CAC11.
The BT cross-form validations have been amended and are available to download below. If you have any queries relating to Form BT please contact our Helpdesk on 020 7601 5360.
Related resources
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Form BT validations |
6. Form CX definitions (clarification)
Following queries from reporting institutions, we have taken the opportunity to clarify the definition of "in-house" software development for the purposes of reporting Form CX. Any development that is carried out on behalf of the reporting institution by a subsidiary company set up solely for that purpose should be considered to be "in-house". However, if the subsidiary company in question is involved in other types of business as well, or if it undertakes software development work for third parties, then the expenditure should not be classified as "in-house": it should be reported within 6B2 or 6B3 instead.
Updated Form CX definitions are available to download below. Reporters with concerns about this should contact Stephen Burgess (Tel. 020 7601 5356) or Jenny Gardner (Tel. 020 7601 5465).
Related resources
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Form CX definitions |
7. Form CC cross-form validations (effective from end-June 2008 reporting)
On Form CC, Section B it is stated that market loans to non-residents (including under repos) is part of Form BT items 23K and 30J. However, this check was not included in the cross-form validations for Form CC, this has been amended and updated cross-form validations can be downloaded below.
If you have any queries relating to Form CC, please contact Nick Butt (Tel. 020 7601 5573).
Related resources
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Form CC cross-form validations |
8. Reporting Schedule (effective from July 2008)
The reporting schedule for statistical returns from July 2008 to June 2009 is now available as below.
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Reporting Schedule 2008/2009 |
Bank of England
Monetary & Financial Statistics Division
22 April 2008
