BoE published the statistical notice 2020/01 that provides an update to Version 1.1.0 of the taxonomy for forms AS (MFI holdings of securities collection) and FV (Financial Vehicle Corporations return) and the associated validation rules. Version 1.1.0 comes into effect from the first quarter of 2020, with the deadline for first quarter and reporting of second quarter of 2020 deferred until September 01, 2020.
Version 1.1.0 of the BoE Statistics taxonomy is an update to fix a number of bugs and to make reporting more robust. Many of the validations have been updated and changed from non-blocking to blocking. BoE also increased the number of URI fields, giving reporters the option to include additional identifiers where they are known. As part of the update, new validations have been added to the taxonomy and the existing ones amended where they were not functioning as intended. Following feedback from reporters to ensure that all changes to the taxonomy and the associated validation rules are clearer, BoE published an update to the Form AS definitions.
A UAT period will be made available to all reporting institutions in Summer 2020, the exact date for which will be announced in due course. BoE will also publish an updated reporting schedule covering subsequent periods. This updated taxonomy will make reporting more robust and fix a number of issues present in the previous taxonomy, allowing firms to report as originally intended.
Keywords: Europe, UK, Banking, Form AS, Form FV, Statistical Notice, Reporting, Taxonomy, Validation Rules, BoE
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