BoE Publishes Reporting Schedule for Statistical Returns
In a recent statistical notice, BoE announced publication of the reporting schedule for statistical returns for 2021. The statistical notice also sets out that the applicable ratio for the next adjustment to cash ratio deposits is due on December 01, 2020 and the data will be published on November 19, 2020 on the BoE website. BoE will issue call notices to cash ratio deposit payers (which will include this revised cash ratio deposit ratio) shortly thereafter. The deadline for revisions to eligible liabilities to be reflected in the December adjustment is November 17, 2020.
Cash ratio deposits are non-interest bearing deposits lodged with BoE by eligible institutions (banks and building societies), who have reported average eligible liabilities in excess of GBP 600 million over a six-month calculation period. BoE invests these deposits in gilts and the income earned on these investments is used to fund the costs of the BoE’s monetary policy and financial stability operations. The size of the Cash Ratio Deposits placed with BoE is indexed to gilt yields. This means that the ratio and, therefore, the deposits the BoE receives from Cash Ratio Deposit payers, changes periodically depending on the level of past gilt yields. This helps deliver a stable income to cover the cost of BoE undertaking its responsibilities. BoE calculates the representative yield every six months and publishes this along with the underlying data used in the calculation, on the 14th working day of the respective month. The level of cash ratio deposit of each institution is calculated twice every year—in May and November.
Related Links
Keywords: Europe, UK, Banking, Reporting, Cash Ratio Deposits, Statistical Reporting, Reporting Schedule, BoE
Featured Experts
María Cañamero
Skilled market researcher; growth strategist; successful go-to-market campaign developer
Nicolas Degruson
Works with financial institutions, regulatory experts, business analysts, product managers, and software engineers to drive regulatory solutions across the globe.
Scott Dietz
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 Article
ESMA to Recognize Three Central Counterparties from UKRelated Articles
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
BIS Bulletin Examines Cognitive Limits of Large Language Models
The use cases of generative AI in the banking sector are evolving fast, with many institutions adopting the technology to enhance customer service and operational efficiency.
ECB is Conducting First Cyber Risk Stress Test for Banks
As part of the increasing regulatory focus on operational resilience, cyber risk stress testing is also becoming a crucial aspect of ensuring bank resilience in the face of cyber threats.
EBA Continues Momentum Toward Strengthening Prudential Rules for Banks
A few years down the road from the last global financial crisis, regulators are still issuing rules and monitoring banks to ensure that they comply with the regulations.
EU and UK Agencies Issue Updates on Final Basel III Rules
The European Commission (EC) recently issued an update informing that the European Council and the Parliament have endorsed the Banking Package implementing the final elements of Basel III standards