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

Market risk: standardised approaches for position risk in commodities (MKR SA COM): values must agree (OF23.00.01.01, Bank of England check boe_b0827)

A blocking check on the market risk: standardised approaches for position risk in commodities (MKR SA COM) template (OF23.00.01.01), in the own funds (PRA001) return.

Line4 Check runs it on the own funds (PRA001) return, proven on test files, check by check: the same outcome on all three test files of that return.

Check your file for this rule

The rule in plain words

This represents Own Funds requirements for Total Positions in Commodities, calculated in accordance with Chapter 4 of Title IV Part Three of the MARKET RISK: SIMPLIFIED STANDARDISED APPROACH (CRR) Part of PRA Rulebook for any relevant position

In column "Own funds requirements" (0060) of Market risk: standardised approaches for position risk in commodities (MKR SA COM) (OF23.00.01.01): "Total positions in commodities" (row 0010) must equal 1.9 multiplied by the sum of "Maturity ladder approach" (row 0070), "Extended maturity ladder approach" (row 0080), "Simplified approach: All positions" (row 0090) and "Additional requirements for options (non-delta risks)" (row 0100).

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 OF23.00.01 as reported.

The cells it reads

Market risk: standardised approaches for position risk in commodities (MKR SA COM) (OF23.00.01.01)

Rows

  • R0010Total positions in commodities
  • R0070Maturity ladder approach
  • R0080Extended maturity ladder approach
  • R0090Simplified approach: All positions
  • R0100Additional requirements for options (non-delta risks)

Column

  • C0060Own funds requirements

Which returns it applies to

Line4 Check runs it on the own funds (PRA001) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to own funds (PRA001) 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}.

{t: OF23.00.01.01, r: 0010, c: 0060} = 1.9 * sum({t: OF23.00.01.01, r: 0070; 0080; 0090; 0100, c: 0060})

Every PRA banking rule on OF23.00.01.01

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.