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.