BoE Provides Reporting Update on Form AS and Form FV
BoE updated the known issues document for the statistical reporting Forms AS and FV. The BEEDS external User Acceptance Testing for the updated taxonomy for Forms AS and FV (ASFV version 1.1.0) was successfully completed on July 16. The taxonomy version 1.1.0 is now live in BEEDS and reporting institutions can submit Form AS and FV returns for the first and second quarter reporting periods, the deadline for which remains the September 01, 2020. The User Acceptance Testing has identified that securities denominated in currency CNH cannot be reported as intended on Form AS. The known issues document has been updated with the details of this issue and the required mitigating actions.
Form AS data are primarily used to assess the holdings of securities on the balance sheet of UK resident monetary financial institutions, held for their own purposes. Statistics produced from these data are used within the Bank of England (for example, by the Monetary Policy and Financial Policy Committees) and by institutions such as the Office for National Statistics, BIS, and ECB. For Form AS purposes, securities are defined as negotiable financial instruments, including debt and equity securities. Negotiability refers to the fact that legal ownership of the instrument is readily capable of being transferred from one owner to another by delivery or endorsement.
Additionally, Form FV should cover the economic activity of any UK resident financial vehicle corporations that operate or conduct business on behalf of a monetary financial institution. Financial vehicle corporations will include entities such as financial vehicle holding companies, securitization vehicles, funding companies, and securitization trustees. Form FV should be reported on a single consolidated submission, where consolidation covers all financial vehicle corporations, within a vehicle group, acting on behalf of a monetary financial institution.
Related Links
Keywords: Europe, UK, Banking, Statistical Reporting, Form AS, Form FV, UAT, BEEDS, Taxonomy, Securitization, BoE
Previous Article
BNM Extends Moratoria in Response to COVID-19 CrisisRelated Articles
ESAs Issue Multiple Regulatory Updates for Financial Sector Entities
The three European Supervisory Authorities (ESAs) issued a letter to inform about delay in the Sustainable Finance Disclosure Regulation (SFDR) mandate, along with a Call for Evidence on greenwashing practices.
FSB and NGFS Publish Initial Findings from Climate Scenario Analyses
The Financial Stability Board (FSB) and the Network for Greening the Financial System (NGFS) published a joint report that outlines the initial findings from climate scenario analyses undertaken by financial authorities to assess climate-related financial risks.
FSB Issues Reports on NBFI and Liquidity in Government Bonds
The Financial Stability Board (FSB) published a letter intended for the G20 leaders, highlighting the work that it will undertake under the Indian G20 Presidency in 2023 to strengthen resilience of the financial system.
ISSB Makes Announcements at COP27; IASB to Propose IFRS 9 Amendments
The International Sustainability Standards Board (ISSB) of the IFRS Foundations made several announcements at COP27 and with respect to its work on the sustainability standards.
IOSCO Prioritizes Green Disclosures, Greenwashing, and Carbon Markets
The International Organization for Securities Commissions (IOSCO), at COP27, outlined the regulatory priorities for sustainability disclosures, mitigation of greenwashing, and promotion of integrity in carbon markets.
EBA Finalizes Methodology for Stress Tests, Issues Other Updates
The European Banking Authority (EBA) issued a statement in the context of COP27, clarified the operationalization of intermediate EU parent undertakings (IPUs) of third-country groups
EU Finalizes Rules Under Crowdfunding Service Providers Regulation
The European Union has finalized and published, in the Official Journal of the European Union, a set of 13 Delegated and Implementing Regulations applicable to the European crowdfunding service providers.
OSFI Sets Out Work Priorities and Reporting Updates for Banks
The Office of the Superintendent of Financial Institutions (OSFI) published an annual report on its activities, a report on forward-looking work.
APRA Finalizes Changes to Capital Framework, Issues Other Updates
The Australian Prudential Regulation Authority (APRA) finalized amendments to the capital framework, announced a review of the prudential framework for groups.
BIS Hub and Central Banks Conduct CBDC and DeFI Pilots
The Bank for International Settlements (BIS) Innovation Hubs and several central banks are working together on various central bank digital currency (CBDC) pilots.
