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    BoE Announces Changes to Validation Rules for Form BTL

    July 20, 2021

    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. As the migration project continues to progress, the Q&A document will be updated to support users on this data migration. As per the indicated timeline, BoE expects to publish the final statistical taxonomy and begin BEEDS development and testing sometime in August 2021. BEEDS Release, featuring system enhancements, is expected in January 2022 while OSCA is scheduled to be switched off in September 2022. BoE also announced upcoming changes to the validation rules applied to Form BTL on July 31, 2020 and notes that these changes will necessitate a version of the reporting schema.

    Form BTL is a loan-level data collection for buy-to-let lending. The key changes to the validation rules are as follows:

    • Credit score—The validation rules have been relaxed to allow credit scores between 0 and 2000. Reporters amending their data to fit the existing validations should start reporting actual credit scores as soon as possible.
    • Initial gross interest rate—The validation rule for reported rates to be at 0 or above has been removed.
    • Stressed rate—The validation rule for reported rates to be at 0 or above has been removed.

     

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    Keywords: Europe, UK, Banking, Statistical Reporting, BEEDS, XBRL, XBRL Taxonomy, OSCA, Form BTL, Credit Risk, Loan-Level Data, BoE

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