Cash Ratio Deposits (effective immediately)
Cash Ratio Deposits (CRDs) are non-interest bearing deposits lodged with the Bank of England by eligible institutions (i.e. banks and building societies), who have reported average eligible liabilities (ELs) in excess of £600 million over a six-month calculation period. The level of each institution’s CRD is calculated twice yearly (in May and November) at 0.18% of average ELs in excess of £600 million over the previous six end-calendar months.
The next adjustment to CRDs is due to take place on Wednesday 1st June 2016, based on data reported in Form ELS item £A (total eligible liabilities) for the months of November 2015 to April 2016. The deadline for revisions to ELs to be reflected in the June adjustment is 5pm on Wednesday 18th May 2016; call notices will be issued shortly thereafter. Amendments to Form ELS item £A must be re-submitted via OSCA. Institutions reporting form PB, in order to submit form BT on working day 12, are reminded that form ELS must be submitted on time. Please also be aware that the final deadline for revisions to form ELS for the June CRD adjustment falls on working day 12.
If there are any queries relating to CRDs, please contact the compliance team on +44 (0) 207 601 5360 or email srddcompliance@bankofengland.co.uk.
Corrected validation for Form PL for Q1 2016 reporting onwards
This is a notice that validation 480 has been amended for the list of active validation rules for the new Form PL, which is to be reported effective Q1 2016.
The rule relates to PL8 and has been changed to reflect the following identity: PL8 = PL8A + PL8B + PL8C + PL8D.
Form PL validations are available on the Bank’s website.
If you have any questions, please email SRDDplteam@bankofengland.co.uk.