Featured Product

    BoE Finalizes Version 1.2.0 of Statistics Taxonomy for XBRL Reporting

    September 06, 2021

    The Bank of England (BoE) finalized version 1.2.0 of the taxonomy to support collection of statistical data, which was previously collected in the XML format. The taxonomy, data point model (DPM) dictionary, annotated templates, and validation rules represent the statistical reporting requirements collected under the Statistical Code of Practice. The data point model is an extension of the European Banking Authority’s (EBA) data point model. Additionally, filings will be subject to the BoE Statistics XBRL filing manual, which has been published with this taxonomy. This manual is predominantly based on the EBA filing rules. This version of the taxonomy represents an extensive update and based on feedback received BoE plans to confirm, by the end of 2021, whether a corrective release of the taxonomy will be published or not.

    The publication of the version 1.2.0 of the statistics taxonomy follows two Public Working Draft (PWD) publications in second quarter of 2021. A change log has been published to outline the changes between PWD2 and this publication. Reporting requirements remain unchanged as result of the migration to taxonomy version 1.2.0, and, therefore, the already published definition documents should continue to be used. The release notes summarize key changes compared to OSCA reporting, set out changes to document formatting, list entry points (with entry point labels), and outline the following notable points:

    • Reporting of forms AS and FV is currently completed against the BoE Statistics taxonomy version 1.1.0. The taxonomy version 1.2.0 introduces minor amendments to these modules to bring consistency across the full suite of forms. In line with the rest of the reporting forms, the validation rules have been optimized. Taxonomy version 1.2.0 should be used for AS and FV reporting from the first quarter of 2022 reporting onward.
    • All forms are structured as separate modules within the same framework. There is also an "all" module which has all templates and validations associated to it. This may prove useful for testing and data preparation activities but will not be permitted for reporting in the BoE Electronic Data Submission (BEEDS) portal (UAT or LIVE environments).
    • Cross form validation rules have been added to the final (version 1.2.0) taxonomy package against the "all" entry point. This is a change from the shared public working draft, with the aim to facilitate automated verification of these validations prior to uploading data into the BEEDS protal. system.
    • The code assigned to each validation rule is prefixed by the related module(s). For cross form rules, the modules are listed in alphabetical order.
    • BoE applied an absolute tolerance approach for all forms, except form AS, which continues to apply interval arithmetic; this is to keep the methodology consistent with the approach used previously in online statistical collection application.
    • A sample file for each entry point in the taxonomy has been provided for illustration purposes. 
    • Where two or more data points have the same modeling, provision of different values will not be permitted, as this would result in inconsistent reporting.

     

    Related Links

    Keywords: Europe, UK, Banking, Statistical Reporting, XBRL, DPM, Reporting, BEEDS, Version 1.2.0, Statistical Notice, Taxonomy, BoE

    Featured Experts
    Related Articles
    News

    FINMA Approves Merger of Credit Suisse and UBS

    The Swiss Financial Market Supervisory Authority (FINMA) has approved the takeover of Credit Suisse by UBS.

    March 21, 2023 WebPage Regulatory News
    News

    BOE Sets Out Its Thinking on Regulatory Capital and Climate Risks

    The Bank of England (BOE) published a working paper that aims to understand the climate-related disclosures of UK financial institutions.

    March 13, 2023 WebPage Regulatory News
    News

    OSFI Finalizes on Climate Risk Guideline, Issues Other Updates

    The Office of the Superintendent of Financial Institutions (OSFI) is seeking comments, until May 31, 2023, on the draft guideline on culture and behavior risk, with final guideline expected by the end of 2023.

    March 12, 2023 WebPage Regulatory News
    News

    APRA Assesses Macro-Prudential Policy Settings, Issues Other Updates

    The Australian Prudential Regulation Authority (APRA) published an information paper that assesses its macro-prudential policy settings aimed at promoting stability at a systemic level.

    March 07, 2023 WebPage Regulatory News
    News

    BIS Paper Examines Impact of Greenhouse Gas Emissions on Lending

    BIS issued a paper that investigates the effect of the greenhouse gas, or GHG, emissions of firms on bank loans using bank–firm matched data of Japanese listed firms from 2006 to 2018.

    March 03, 2023 WebPage Regulatory News
    News

    HMT Mulls Alignment of Ring-Fencing and Resolution Regimes for Banks

    The HM Treasury (HMT) is seeking evidence, until May 07, 2023, on practicalities of aligning the ring-fencing and the banking resolution regimes for banks.

    March 02, 2023 WebPage Regulatory News
    News

    MFSA Sets Out Supervisory Priorities, Issues Reporting Updates

    The Malta Financial Services Authority (MFSA) outlined its supervisory priorities for 2023

    March 02, 2023 WebPage Regulatory News
    News

    German Regulators Issue Multiple Reporting Updates for Banks

    Deutsche Bundesbank published the nationally deactivated validation rules for the German Commercial Code (HGB) users on the taxonomy 3.2, which became valid from December 31, 2022

    March 02, 2023 WebPage Regulatory News
    News

    BCBS Report Examines Impact of Basel III Framework for Banks

    The Basel Committee on Banking Supervision (BCBS) published results of the Basel III monitoring exercise based on the June 30, 2022 data.

    February 28, 2023 WebPage Regulatory News
    News

    PRA Consults on Prudential Rules for "Simpler-Regime" Firms

    Among the recent regulatory updates from UK authorities, a key development is the first-phase consultation, from the Prudential Regulation Authority (PRA), on simplifications to the prudential framework that would apply to the simpler-regime firms.

    February 28, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8806