The rule in plain words
Derivative transactions not cleared through a CCP should be equal to total derivatives less those cleared through a QCCP and those cleared through a non-QCCP
In each of "Notional amounts" (column 0010), "Long positions" (column 0020), "Short positions" (column 0030) and "AMOUNT" (column 0060) of Information on derivatives, securities financing and long settlement transactions of SDDTs (CCR SDDT) (SC34.00.01.01): "Derivative transactions not cleared through a CCP" (row 0110) must equal "of which: derivative transactions" (row 0020) minus "of which: cleared through a QCCP" (row 0030) minus "of which: cleared through a non-QCCP" (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.
This is a blocking check. A return that fails it is normally rejected, so fix it before you submit. It runs only when your filing indicators mark SC34.00.01 as reported.
The cells it reads
Information on derivatives, securities financing and long settlement transactions of SDDTs (CCR SDDT) (SC34.00.01.01)
Rows
- R0020of which: derivative transactions
- R0030of which: cleared through a QCCP
- R0040of which: cleared through a non-QCCP
- R0110Derivative transactions not cleared through a CCP
Columns
- C0010Notional amounts
- C0020Long positions
- C0030Short positions
- C0060AMOUNT
Which returns it applies to
Line4 Check runs it on the own funds for SDDTs (PRA116) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to own funds for SDDTs (PRA116) 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 formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
{t: SC34.00.01.01, r: 0110} = {t: SC34.00.01.01, r: 0020} - {t: SC34.00.01.01, r: 0030} - {t: SC34.00.01.01, r: 0040}Where it applies, in the Bank's words (its scope):
scope({t: SC34.00.01.01, c:0010;0020;0030;0060, f: banking, fv: banking_reporting_sddt})Other rules on Information on derivatives, securities financing and long settlement transactions of SDDTs (CCR SDDT) (SC34.00.01.01)
- The 'of which' rows should be less than or equal to the total 'of which' row (boe_b0094_ss)
- Information on derivatives, securities financing and long settlement transactions of SDDTs (CCR SDDT): a total must equal the sum of its parts (boe_b0091_ss)Blocking
- The 'of which' rows should be less than or equal to the total 'of which' row (boe_b0095_ss)
- The 'of which' row should be less than or equal to the derivatives not cleared through a CCP row (boe_b0096_ss)
- For relevant rows, the last column should be the long positions less the short positions (boe_b0087-1_ss)Blocking
- Data should exceed or be equal to zero (boe_b0085_ss)Blocking
- Check that the breakdown of derivatives is equal to the total derivative transactions reported in row 0020 (boe_b1037_ss)Blocking
Every PRA banking rule on SC34.00.01.01
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.