2009 June

Document Sample
2009 June Powered By Docstoc
					22 June 2009                                                                                SN2009/05


Statistical Notice to reporting institutions
All Statistical Notices, since 1999, are available on the Internet. A subscription facility is available
by selecting “Subscribe to email alerts” from the top right hand corner of the Statistical Notices
page at www.bankofengland.co.uk/statistics/reporters/snotice/index.htm
Statistical Notices should be received by all those responsible for the completion of Bank of England
returns. To amend the circulation list please contact DataReception@bankofengland.co.uk


1.     New Public Key for Bank of England BEERS reporters (effective immediately)
2.     Reporting Thresholds (effective immediately)
3.     Reclassification of payments made to Financial Services Compensation Scheme (FSCS)
       (effective 2009 Q2 reporting)
4.     Form PL definitions (effective immediately)


1.     New Public Key for Bank of England BEERS reporters (effective immediately)
A new electronic public key is now available. This new key incorporates RSA 2048 protection and
is recommended to all electronic reporters. Please contact your software house to arrange to install
the new key. If you do not use a software house for electronic reporting, or have any queries
regarding this new key or generating your own new key, please contact the Data Reception Team
(Tel. 0207 601 5360, datareception@bankofengland.co.uk).


2.      Reporting Thresholds (effective immediately)
A revised reporting threshold document is available at
www.bankofengland.co.uk/statistics/reporters/defs/repthresholds.pdf.


3.     Reclassification of payments made to Financial Services Compensation Scheme (FSCS)
(effective 2009 Q2 reporting)


Payments to the Financial Services Compensation Scheme (FSCS) have been reclassified by the
Office for National Statistics, from other expenditure, Form PL item PL12BD, to tax, Form PL item
PL16. The change takes effect from 2009 Q2 reporting.

Any past payments should remain classified as other expenditure and should not be reclassified.
When submitting 2009 Q2 data, please could reporting institutions advise the Bank of the details of
any FSCS payments in excess of £50mn by contacting MFSD_IE@bankofengland.co.uk.

If you have any queries relating to these changes, please contact Peter Richardson (Tel.
0207 601 4174, peter.richardson@bankofengland.co.uk).
SN2009/05 Page 1 of 2
4.     Form PL definitions (effective immediately)

The Form PL definitions have been updated to include a more detailed guidance on how to report
transfer pricing income and expenditure.

Transfer pricing estimates should provide a measure of the “value added” of the intra-group activity,
i.e. it is a measure of service income and expenditure, such as intra-group fees and operating cost
recharges. All non-service related profit transfers should be excluded from transfer pricing.

Please see page 4 of the Appendix to Form PL definitions for further details on transfer pricing
reporting.

If you envisage any problems implementing these changes or have any questions on how to report
please contact Peter Richardson (Tel. 0207 601 4174, peter.richardson@bankofengland.co.uk)

Updated definitions are available to download at
www.bankofengland.co.uk/statistics/reporters/defs/defs.htm.




Bank of England
Monetary & Financial Statistics Division
22 June 2009




SN2009/05 Page 2 of 2