BoE Updates Version 1.1.0 of Taxonomy for Form AS and Form FV
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.
Related Links
Keywords: Europe, UK, Banking, Form AS, Form FV, Statistical Notice, Reporting, Taxonomy, Validation Rules, BoE
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Previous Article
APRA to Transition to Annual Stress Testing of Large Banks in 2020Related Articles
BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance
The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.
EBA Seeks Views on Proportionality Assessment Methodology
The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.
US Agencies Propose Changes to Call Reports and Instructions
Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.
PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker
The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.
EBA Examines Asset Encumbrance in Banking Sector
The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.
EBA Publishes Methodological Guide to Mystery Shopping
The European Banking Authority (EBA) published a methodological guide to mystery shopping.
APRA Issues Update on Capital Reform Policy Settings for Banks
The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.
CPMI-IOSCO Assess Continuity Planning of Market Infrastructures
The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.
BoE Announces Changes to Validation Rules for Form BTL
The Bank of England (BoE) published questions and answers (Q&A) on OSCA to BEEDS migration for statistical reporting as well a presentation from the project overview session held with statistical reporters.
BCBS Proposes Changes to Process for Reviewing G-SIB Methodology
The Basel Committee on Banking Supervision (BCBS) is consulting on a technical amendment to the Basel Framework to reflect a new process reviewing the global systemically important bank (G-SIB) assessment methodology.
