Banks' consolidated balance sheet data comprises of both the liabilities and assets of all UK resident banks other than the Bank of England.
Deposits include estimated holdings of banks' certificates of deposit, commercial paper, bonds, FRNs and other instruments of up to and including five years' original maturity and, from December 1995, liabilities arising from repos.
Non-residents deposits include estimated non-residents holdings of negotiable dollar and sterling certificates of deposit. Deposits denominated in currencies other than sterling include all or part of the foreign currency interbank difference (100% up to September 1986, 85% from October 1986 to October 1992, 60% thereafter).
Private sector deposits, from end-1986, sterling deposits directly include 95% of the sterling interbank difference. The remaining 5% is allocated to transits partially affecting deposits (see Transit and suspense items). Also from end-1986, deposits denominated in currencies other than sterling include part of the foreign currency interbank difference (15% from October 1986 to October 1992, 40% thereafter).
Transit and suspense items
Transit items appear in banks' balance sheets both as credits and debits (e.g. standing orders or cheques in course of collection). Suspense items relate to customers' funds that are not held in customers' names.
When banks' figures are aggregated, these items may give rise to double-counting of deposits received from customers outside the banking system or, where overdrawn or loan accounts are concerned, to the under-recording of total lending made to such customers. The data for deposits and loans are therefore, adjusted.
From February 2006:
- 70.4% and 3.6% of sterling credit transit items are added to non- interest-bearing deposits from the UK private and public sectors respectively. The remaining 23.6% and 2.4%, for UK private and public sectors respectively, is subtracted from advances.
- 72% of sterling debit transit items are subtracted from non-interest-bearing deposits from the UK private sector and 28% are added to advances to the UK private sector.
- The 5% of the sterling interbank difference associated with transits is allocated as 74% to deposits and 26% to advances from the UK private sector.
- 71% of sterling credit items in suspense are added to the UK private sector's non-interest-bearing deposits. The remaining 29% is subtracted from advances to the UK private sector.
- 67% of sterling debit items in suspense are subtracted from the UK private sector's non-interest-bearing deposits. The remaining 33% is added to advances to the UK private sector.
- For foreign currency transit items, the difference between credit and debit items is added to deposits from non-residents.
- 39% of foreign currency credit items in suspense are added to non-residents' deposits and 23% to UK private sector deposits. The remainder is subtracted from advances, 26% non-resident and 12% UK private sector.
- 36% of foreign currency debit items in suspense are subtracted from non-residents' deposits and 24% from UK private sector deposits. The remainder is added to advances, 24% non-resident and 16% UK private sector.
A further analysis of the amounts outstanding is given in the Office for National Statistics' (ONS) Financial Statistics: the public sector is split there into central government, local government and public corporations throughout, and the private sector into other financial corporations, private non-financial corporations, and the household sector; within the household sector, a sub-sector comprising individuals, unincorporated businesses and non-profit institutions serving persons.