Statistical Notice 2021/06

Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder
Published on 06 September 2021

Bank of England Statistical Taxonomy – Final

On Monday 6 September, we published a final version 1.2.0 of the Bank of England Statistics taxonomy to support the collection of statistical data previously collected in an XML format. This change was announced in Statistical Notice 2021/02.

This publication follows two Public Working Draft (PWD) publications in Q2 2021 where we offered the opportunity for feedback. A change log has been published to outline changes between PWD2 and this final publication.

The taxonomy, data point model (DPM) dictionary, annotated templates and validation rules represent the reporting requirements outlined on the Forms, definitions and validations page of the Bank of England website, and collected under the Statistical Code of Practice. Reporting requirements are unchanged as result of the migration to taxonomy version 1.2.0, and therefore our published definition documents should continue to be used. Over time the data model may be refined to ensure full alignment with these definitions.

The data point model is an extension of the European Banking Authority’s (EBA) data point model. Filings will be subject to the Bank of England Statistics XBRL filing manual, which has been published alongside this taxonomy. This manual is predominantly based on the EBA filing rules as published on the EBA website.

Given version 1.2.0 is an extensive update it is prudent to plan for a corrective release, should we receive feedback that warrants correction before the next taxonomy version. Confirmation will be given by the end of 2021 if such a release will be published or not.

OSA to BEEDS Migration

While reporting requirements remain unchanged for the OSCA to BEEDS migration, as a result of implementing the new taxonomy there are some key reporting points to note and it is imperative that Statistical Reporters refer to the Release Note. As the taxonomy is now final and the BEEDS design work is complete, the FAQ document has been updated and addresses a number of questions raised at the previous seminar.

Following the previous OSCA to BEEDS Project Overview sessions held over the summer, we invite Statistical reporters to a further, more technical session where we will cover the following:

  • How to interpret the documents published alongside the Taxonomy
  • Key changes compared to OSCA reporting
  • Timeline
  • On boarding plan
  • BEEDS demonstration
  • FAQ’s

These sessions are scheduled for Monday 11 October at 11:00am and Thursday 14 October at 10:00am. The two sessions will cover the same material and individuals should attend one session only.

Please email any questions you may have and confirm your attendance by emailing OSCAQueries@bankofengland.co.uk Invitation links will be circulated accordingly prior to the event.

We will shortly contact all Firms via a Statistical Notice to begin collating on boarding information. We will require one name for the Principal User, Additional Users along with email addresses and mobile telephone numbers. We will at the same time, request the Firm LEI.

Further information can be found in the BEEDS User Guide.

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