Statistical Notice 2018/04

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder.
Published on 02 May 2018

1. 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).

Following the recent HM Treasury consultation on the CRD scheme in February 2018 and the recommendations made by this review, subject to Parliamentary approval, it is anticipated that the applicable CRD ratio will increase from the current level. This is to address the shortfall in the Bank’s funding and make the CRD ratio more responsive to changes in gilt yields. The applicable ratio for the next adjustment to CRD’s, due on Friday 1 June 2018, will be published on the Bank’s website on 18 May 2018, the Bank will issue call notices to CRD-payers (which will include this revised CRD ratio) shortly thereafter. This CRD ratio will be applied to average ELs in excess of £600 million over the previous six end-calendar months.

A copy of the consultation document along with a summary of responses can be found on HM Treasury’s website.

Please also be aware that we will no longer be issuing paper call notices. You will be contacted shortly asking for your updated details. Please ensure your contact details are correct and returned to the Data Reception team as soon as possible.

The next adjustment to CRD’s is due to take place on Monday 3 December 2018, based on data reported in Form ELS item £A (total eligible liabilities) for the months of May to October 2018. The deadline for revisions to ELs to be reflected in the December adjustment is 5pm on Friday 16 November 2018; call notices will be issued shortly thereafter.

2. Green Notice (nil return)

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