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    BoE Issues Updates on Prudential and Statistical Reporting in May 2022

    May 26, 2022

    The Bank of England (BoE) published list of known issues and Statistical Notices on prudential and statistical reporting requirements for banks.

    With respect to the prudential reporting for banks, BoE updated the list of known issues log (describing the issue, along with its severity) for the BoE Banking Data Point Model (DPM) and XBRL Taxonomy. With respect to the statistical reporting, BoE published three Statistical Notices (2022/09, 2022/10, and 2022/11), providing the following guidance: 

    • Statistical Notice 2022/09: The User Acceptance Testing (UAT) environment will be open for testing the Statistical Taxonomy on Bank of England Electronic Data Submission (BEEDS) portal, from May 30, 2022 to July 01, 2022. The accounts for previously nominated principal users will be created and there is no need to opt in to the testing environment.
    • Statistical Notice 2022/10: The Statistical Utility tool has been created on the BEEDS webpage, under the Statistical Forms Taxonomy section, to assist firms in the transition to XBRL reporting. The tool will be a temporary solution and will not be maintained for future updates to the Taxonomy.
    • Statistical Notice 2022/11: BoE published Version 1.2.3 of the Statistics taxonomy and made adjustments to a number of validation rules. With respect to the new version of the BoE Statistics Taxonomy, all entry points remain the same while a change log has been published to outline changes between Version 1.2.2 and Version 1.2.3. A number of validations have been added or amended to ensure the Basic Information template is reported correctly. Additionally, a fix has been introduced for FV_v0044 and a number of CE validations have been removed. BoE stated that only principal users will be set up and it is the responsibility of the principal user to manage/set up any additional users for their firms. Also, firms should report their reporting period end date as month-end.

     

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    Keywords: Europe, UK, Banking, Data Collection, Basel, Reporting, Statistical Reporting, Statistical Notice, Taxonomy, BEEDS, BoE

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