Statistical Notice
Background
The Bank of England would like to remind firms that the updated Bank of England Statistics Taxonomy v1.3.1 is due for LIVE submissions relating to end-May data, due from mid-June 2026.
This update follows the release of the public working draft and subsequent feedback received from firms. The updated taxonomy includes technical enhancements, validation fixes, and data point model changes. Reporting requirements remain unchanged, and firms should continue to use the existing published definition documents when preparing their submissions.
Implementation of Statistics Taxonomy v1.3.1
The Bank of England Statistics Taxonomy v1.3.1 will replace Statistics Taxonomy v1.3.0.
Firms should ensure that they are prepared to submit using the updated taxonomy for LIVE submissions relating to end-May data, due from mid-June 2026.
Firms are reminded that Taxonomy v1.3.1 is not backwards compatible with Taxonomy v1.3.0. This means that instance documents created using Taxonomy v1.3.0 will not be valid for submission under Taxonomy v1.3.1.
Action required by firms
Firms should take the following steps ahead of the implementation date:
- Ensure their reporting systems and processes are updated to use Statistics Taxonomy v1.3.1.
- Confirm that any internally generated XBRL instance documents reference the correct updated taxonomy entry points.
- Engage with their software provider, where applicable, to confirm readiness for the new taxonomy.
- Review the published change log and supporting materials to understand the technical changes introduced between v1.3.0 and v1.3.1.
- Ensure relevant internal teams are aware that submissions using the previous taxonomy version will not be accepted once the update takes effect.
Statistical Utility tool
As previously communicated, the Bank’s Statistical Utility tool will no longer be supported as part of this taxonomy update.
Firms that previously used the Statistical Utility tool to help generate XBRL files should make alternative arrangements ahead of the implementation date. This may include using a recognised software provider or another suitable internal solution capable of producing valid XBRL instance documents under Statistics Taxonomy v1.3.1.
Specific points to note
- The taxonomy update applies to the Bank of England Statistics Taxonomy framework.
- The update introduces technical changes only; reporting requirements remain unchanged.
- Filing indicators have been made consistent across statistics reporting and follow the format XX.XX.XX, for example FI.01.01.
- Sample files have been provided for illustration purposes only and should not be assumed to satisfy all validation or filing rules.
- Firms should ensure they have completed any required testing and internal assurance before submitting LIVE returns under the updated taxonomy.
Further information
Firms should refer to the published taxonomy package, change log, sample files and XBRL filing manual for further details.
Any queries regarding the implementation of the updated taxonomy should be raised through the usual Bank of England statistical reporting channels.
A summary of all Statistical Notice items that are yet to come into effect is available on the statistical notices page. Statistical Notices should be received by all those responsible for the completion of Bank of England returns. To amend the circulation list, please subscribe.