In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021. The statistical notice also sets out that the applicable ratio for the next adjustment to cash ratio deposits is due on December 01, 2020 and the data will be published on November 19, 2020 on the BoE website. BoE will issue call notices to cash ratio deposit payers (which will include this revised cash ratio deposit ratio) shortly thereafter. The deadline for revisions to eligible liabilities to be reflected in the December adjustment is November 17, 2020.
Cash ratio deposits are non-interest bearing deposits lodged with BoE by eligible institutions (banks and building societies), who have reported average eligible liabilities in excess of GBP 600 million over a six-month calculation period. BoE invests these deposits in gilts and the income earned on these investments is used to fund the costs of the BoE’s monetary policy and financial stability operations. The size of the Cash Ratio Deposits placed with BoE is indexed to gilt yields. This means that the ratio and, therefore, the deposits the BoE receives from Cash Ratio Deposit payers, changes periodically depending on the level of past gilt yields. This helps deliver a stable income to cover the cost of BoE undertaking its responsibilities. BoE calculates the representative yield every six months and publishes this along with the underlying data used in the calculation, on the 14th working day of the respective month. The level of cash ratio deposit of each institution is calculated twice every year—in May and November.
Keywords: Europe, UK, Banking, Reporting, Cash Ratio Deposits, Statistical Reporting, Reporting Schedule, BoE
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.