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).
The applicable ratio for the next adjustment to CRDs, due on 1 June 2023, will be published on the Bank’s website on 19 May, 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. Further information on how the applicable ratio is calculated.
The deadline for revisions to ELs to be reflected in the June adjustment is 5pm on Thursday 18 May 2023.
If you are an eligible CRD-payer, you will be contacted directly requesting completion of the Key Survey to update your contact details ready for the upcoming adjustment round.
Please ensure all are correct before submitting.
All contact details must be updated by 5pm on Tuesday 9 May.
The Key Survey link will expire following this deadline.