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

If "Connectivity to FMI (direct / indirect)" is "Direct access", "Exemption used for indirect access to FMI" must be left empty (SR807.02.07.01, Bank of England check boe_b1129_m)

A blocking check on the part 2: Interbank payment systems template (SR807.02.07.01), in the use of financial market infrastructures (RFB007) return.

Line4 Check runs it on the use of financial market infrastructures (RFB007) return, proven on test files, check by check: the same outcome on all seven test files of that return.

Check your file for this ruleWhat to do if it fails

The rule in plain words

In Part 2: Interbank payment systems (SR807.02.07.01): if "Connectivity to FMI (direct / indirect)" (column 040) is "Direct access", "Exemption used for indirect access to FMI" (column 050) must be left empty.

What to do if your return fails it

  1. 01Open the table below and find the cells the rule reads.
  2. 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
  3. 03It runs only when your filing indicators mark SR807.02.07 as reported.
  4. 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

Part 2: Interbank payment systems (SR807.02.07.01)

Columns

  • C040Connectivity to FMI (direct / indirect)
  • C050Exemption used for indirect access to FMI

Which returns it applies to

Line4 Check runs it on the use of financial market infrastructures (RFB007) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to use of financial market infrastructures (RFB007) returns, as a blocking check.

The Bank’s own words and formula

The plain words above spell out the Bank’s formula, with each cell named from its templates. In the Bank of England’s list of validations, word for word:

boe_b1129_m: T1: SR807.02.07.01; Expression: if ({SR807.02.07.01, c040} = [boe_eba_Cx6004]) then (empty({SR807.02.07.01, c050}))
Show the formulaShow

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

if ({t: SR807.02.07.01, c: 040} = [boe_eba_CT:x6004]) then (isNull({t: SR807.02.07.01, c: 050})) else true()

Every PRA banking rule on SR807.02.07.01

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.