BoE Seeks Information Before Migrating Statistical Reporting to BEEDS
The Bank of England (BoE) published the Statistical Notice 2021/09 requiring additional information from firms and software vendors to assist in the onboarding and testing phases for migrating statistical reporting to the BEEDS portal. BoE is requesting firms to submit the completed survey by October 29, 2021. Firms should complete separate surveys for their unconsolidated and consolidated reporting requirements, including your electronic reporting codes (OSCA codes) for each. Firms who only report Forms MM and MQ should also complete the survey. All firms can access the survey without the need for a password.
BoE would also like to gauge interest in the first statistical reporting UAT window and which onboarding phase the entity is planning to use to join BEEDS. This information is required to ensure all statistical reporting firms are set up on BEEDS for two fundamental stages. The first stage includes the statistical reporting UAT window scheduled for November 15-26, 2021 while the second stage includes the statistical reporting on-boarding phases. The first onboarding phase is scheduled for March 2022 (ready to report end-March data in April 2022) while the second onboarding phase is scheduled for June 2022 (ready to report end-June data in July 2022). There is a separate SMMA Reporting Only section, which should also be completed by all unconsolidated firms. BoE is aware that the SMMA contacts may differ from the usual statistical contacts, so it urges firms to provide the correct SMMA reporting contacts (one Principle User and up to 9 Additional users) ahead of the end-December 2021 reporting round. If an entity reports for multiple firms and has multiple Electronic Reporting (OSCA) codes, it must complete separate surveys for each firm/reporting code. Software vendors that wish to participate in the November UAT window are requested to e-mail OSCA Queries to inform the regulator by 5 pm on October 29, 2021.
As per the Statistical Notice 2021/12, the Statistics Taxonomy package and all accompanying documents have been republished as BoE has made a minor correction. Only the taxonomy package and change log files have been amended since v1.2.0. Version 1.2.1 of the Bank of England Statistics Taxonomy is a minor update to ensure row, column, and sheet codes are correctly identified within the label link-base files. The changes are limited to only -lab-codes.xml files and as such this update does not affect instance files generated against the taxonomy package.
Related Links
Keywords: Europe, EU, Banking, Reporting, BEEDS, Statistical Notice, Onboarding Phase, Testing Phase, Statistical Reporting, Migration to BEEDS, 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
PRA Finalizes Policy for Non-Performing Exposure SecuritizationsRelated Articles
EBA Publishes Final Regulatory Standards on STS Securitizations
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
ECB Further Reviews Costs and Benefits Associated with IReF
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
BCBS to Finalize Crypto Rules by End-2022; US to Propose Basel 3 Rules
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
IOSCO Welcomes Work on Sustainability-Related Corporate Reporting
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
EBA Publishes Funding Plans Report, Receives EMAS Certification
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
MAS Launches SaaS Solution to Simplify Listed Entity ESG Disclosures
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
BoE Allows One-Day Delay in Statistical Data Submissions by Banks
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
ACPR Amends Reporting Module Timelines Under EBA Framework 3.2
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
ECB Paper Discusses Disclosure of Climate Risks by Credit Agencies
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
APRA to Modernize Prudential Architecture, Reduces Liquidity Facility
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.
