Consultation on discontinuation of Form BN Data Collection
Following an internal review, the Bank of England is proposing to cease the collection and publication of Form BN data, which currently provides a detailed sectoral breakdown of non-resident business conducted by UK Monetary Financial Institutions (MFIs). For further details on the structure and scope of Form BN including reporting thresholds, sectoral classifications, and instrument breakdowns, please refer to the Bank’s statistical reporting guidance.footnote [1]
This proposalfootnote [2] stems from an evaluation of the operational value of Form BN against the costs of maintaining it. The review concluded that the benefits of Form BN no longer justify its operational costs, particularly given the availability of alternative data sources, namely Forms CC and CL,footnote [3] footnote [4] which offer sufficient coverage of non-resident activity, albeit on a quarterly rather than monthly basis.
If the proposalfootnote [5] is confirmed, the current proposed final reference period for Form BN data will be April 2026, with publication scheduled for May 2026. The affected data series are listed under Table B2.5.1 in the Bank’s Interactive Database (IADB).
The Bank invites feedback from both data users and reporting institutions by 31 December 2025.
Respondents are encouraged to share:
- Their organisation and role and whether user or reporter of Form BN
- Current use cases for Form BN data
- Views on the impact of discontinuing Form BN.
Comments should be sent to DSD-MCG-BalanceSheets@bankofengland.co.uk with the subject line: Form BN Consultation Feedback.