Statistical Notice 2025/06 - Bank of England Statistics Taxonomy 1.3.1 release note
Executive Summary
This Statistical Notice 2025/06 announces the release of Bank of England Statistics Taxonomy version 1.3.1, which updates definitions and guidance in the Banking Statistics Yellow Folder, including upgrades from XBRL 2.3.0 to 3.0, validation fixes, and data point model changes. It matters for compliance teams at reporting firms as it ensures accurate submission of statistical data to the BoE, supporting monetary policy, financial stability monitoring, and national accounts under the Bank of England Act 1998. #
What Changed
- Upgrade of the reporting taxonomy from XBRL 2.3.0 to XBRL 3.0, introducing technical enhancements for improved data structure and interoperability. - Validation fixes to address errors in data submission processes. - Changes to the data point model (DPM), refining how specific data elements are defined and reported. - These updates align with ongoing refinements to the Banking Statistics Yellow Folder, which contains core definitions for BoE statistical returns. #
What You Need To Do
- Review and update reporting systems to support XBRL 3
- Participate in the two proposed UAT windows to test submissions under the new taxonomy
- Subscribe to or amend BoE Statistical Notices circulation list to receive updates
- Cross-reference against the Banking Statistics Yellow Folder for any definitional impacts on ongoing returns
Key Dates
Compliance Impact
Urgency: Medium - This is a technical taxonomy update rather than a substantive regulatory shift, but non-compliance risks invalid submissions, data rejection, or delays in BoE reporting, which could affect supervisory assessments and national statistics. Firms with automated reporting pipelines face moderate implementation effort, especially for XBRL migration, but proactive UAT participation mit
Who is Affected
Summary
Statistical Notices update the definitions and guidance contained in the Banking Statistics Yellow Folder