BoE to Change Reporting Format for Statistical Data to XBRL
BoE confirmed the planned change in the reporting format from XML to XBRL, for submission of statistical data to the Data and Statistics Division. BoE plans to release public working draft of the XBRL taxonomy and data point model during the week commencing April 19, the external comment period for which will close on May 21, 2020. The final taxonomy is expected to be published in late July or early August.
BoE had announced, in November 2020, that the Data and Statistics Division is planning to move the collection of statistical data to BoE Electronic Data Submission (BEEDS) portal. BEEDS is an online application that enables firms to submit data submissions online. Firms can also view the information held about them by BoE and keep it up-to-date. Migration to the new system will take place over an extended period and BoE will have a pilot of early adopters. BoE intends to be ready to on-board to BEEDS toward the end of this year.
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Keywords: Europe, UK, Banking, Statistical Reporting, BEEDS, XML, XBRL, DPM, XBRL Taxonomy, BoE
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