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2 min readBlockingBank of England banking taxonomy 4.1.1Updated 11 November 2026

Leverage ratio calculation (LRCalc): a value must not be more than another (LV47.00.00.01, Bank of England check boe_b0012)

A blocking check on the leverage ratio calculation (LRCalc) template (LV47.00.00.01), in the leverage ratio (LVR001) return.

Line4 Check runs it on the leverage ratio (LVR001) return, proven on test files, check by check: the same outcome on all eight test files of that return.

Check your file for this ruleWhat to do if it fails

The rule in plain words

The exempted CCP leg of client-cleared SFT exposures must be less than or equal to the sum of the values reported in rows 0010, 0020, 0030, and 0040 of this column.

In each of "LR Exposure: Reporting reference date" (column 0010) and "Daily/Monthly Average over the reporting quarter (LREQ firms only)" (column 0020) of Leverage ratio calculation (LRCalc) (LV47.00.00.01): the size of "(-) Exempted CCP leg of client-cleared SFT exposures" (row 0050) (ignoring its sign) must not be more than the sum of "SFTs: Exposure value" (row 0010), "SFTs: Add-on for counterparty credit risk" (row 0020), "Derogation for SFTs: Add-on in accordance with Article 429e(5) and 222 CRR" (row 0030) and "Counterparty credit risk of SFT agent transactions" (row 0040).

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

What to do if your return fails it

  1. 01Open the table below and find the cells the rule reads.
  2. 02Compare the values in your return. If the first is bigger than it may be, one of them is wrong: check both before you change either.
  3. 03The Bank of England allows a small rounding difference, worked out from the decimals each value is reported with.
  4. 04It runs only when your filing indicators mark LV47.00.00 as reported.
  5. 05This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

Leverage ratio calculation (LRCalc) (LV47.00.00.01)

Rows

  • R0010SFTs: Exposure value
  • R0020SFTs: Add-on for counterparty credit risk
  • R0030Derogation for SFTs: Add-on in accordance with Article 429e(5) and 222 CRR
  • R0040Counterparty credit risk of SFT agent transactions
  • R0050(-) Exempted CCP leg of client-cleared SFT exposures

Columns

  • C0010LR Exposure: Reporting reference date
  • C0020Daily/Monthly Average over the reporting quarter (LREQ firms only)

Which returns it applies to

Line4 Check runs it on the leverage ratio (LVR001) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to leverage ratio (LVR001) returns, as a blocking check.

The Bank’s own words and formula

The first paragraph of the plain words above is the Bank of England’s own, word for word, from its list of validations. The second spells out its formula, with each cell named from its templates.

Show the formulaShow

The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.

abs({t: LV47.00.00.01, r: 0050}) <= sum({t: LV47.00.00.01, r: 0010; 0020; 0030; 0040})

Where it applies, in the Bank's words (its scope):

scope({t: LV47.00.00.01, c:0010;0020, f: banking, fv: leverage_ratio})

Every PRA banking rule on LV47.00.00.01

Checks like this one, run at the point of submission, are the first step to real-time supervision. Line4 builds SupTech software for financial regulators that runs checks like these as each return arrives.