BoE announced that the Data and Statistics Division is planning to move collection of statistical data to the BoE Electronic Data Submission (BEEDS) portal. BEEDS is an application that enables firms to complete and submit data submissions online. Using this application, firms can view the information BoE holds keep it up to date. BoE intends to move away from the Online Statistical Collection Application (OSCA) by the end of October 2022.
BoE also announced that it plans to move the reporting format from XML to XBRL. The draft XBRL taxonomy and data point model will be released to software houses as soon as possible. Migration to the new system will take place over an extended period and BoE will put in place a pilot exercise of early adopters. BoE expects to provide further details via additional Statistical Notices.
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Keywords: Europe, UK, Banking, Statistical Reporting, BEEDS, XML, XBRL, OSCA, BoE
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