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.
Keywords: Europe, UK, Banking, Statistical Reporting, BEEDS, XML, XBRL, DPM, XBRL Taxonomy, BoE
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
Previous ArticleSNB Publishes Reporting Forms on NSFR and Counterparty Solvency Risk
The finalization of the two sustainability disclosure standards—IFRS S1 and IFRS S2—is expected to be a significant step forward in the harmonization of sustainability disclosures worldwide.
Decentralized finance (DeFi) is expected to increase in prominence, finding traction in use cases such as lending, trading, and investing, without the intermediation of traditional financial institutions.
The Basel Committee on Banking Supervision (BCBS) published reports that assessed the overall implementation of the net stable funding ratio (NSFR) and the large exposures rules in the U.S.
At the global level, supervisory efforts are increasingly focused on addressing climate risks via better quality data and innovative use of technologies such as generative artificial intelligence (AI) and blockchain.
The finalization of the IFRS sustainability disclosure standards in late June 2023 has brought to the forefront the themes of the harmonization of sustainability disclosures
The European Banking Authority (EBA) recently issued several regulatory publications impacting the banking sector.
The Basel Committee on Banking Supervision (BCBS) launched a consultation on revisions to the core principles for effective banking supervision, with the comment period ending on October 06, 2023.
The U.S. banking agencies (FDIC, FED, and OCC) recently proposed rules implementing the final Basel III reforms, also known as the Basel III Endgame.
The Financial Stability Board (FSB) recently published the second annual progress report on the July 2021 roadmap to address climate-related financial risks.
The recognition of climate change as a systemic risk to the global economy has further intensified regulatory and supervisory focus on monitoring of the environmental, social, and governance (ESG) risks.