Line4

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

"Total" must equal the sum of "Foreign exchange", "Interest rate", "Credit derivatives", "Equity and stock index", "Commodity" and "Other" (FS701.00.01.02, Bank of England check boe_b2_m)

A blocking check on the memorandum items template (FS701.00.01.02), in the PRA 108 memorandum items (PRA_MEM) return.

Line4 Check runs it on the PRA 108 memorandum items (PRA_MEM) 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

In each of "Assets" (column 0020) and "Liabilities" (column 0030) of Memorandum items (FS701.00.01.02): "Total" (row 0052) must equal the sum of "Foreign exchange" (row 0046), "Interest rate" (row 0047), "Credit derivatives" (row 0048), "Equity and stock index" (row 0049), "Commodity" (row 0050) and "Other" (row 0051).

What to do if your return fails it

  1. 01Open the table below and find the cells the rule reads.
  2. 02Add up the parts in your return and compare the result with the total.
  3. 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.
  4. 04The Bank of England allows a small rounding difference, worked out from the decimals each value is reported with.
  5. 05It runs only when your filing indicators mark FS701.00.01 as reported.
  6. 06This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

Memorandum items (FS701.00.01.02)

Rows

  • R0046Foreign exchange
  • R0047Interest rate
  • R0048Credit derivatives
  • R0049Equity and stock index
  • R0050Commodity
  • R0051Other
  • R0052Total

Columns

  • C0020Assets
  • C0030Liabilities

A worked example

With simple numbers.

Illustrative values
Foreign exchange1,200
Interest rate800
Credit derivatives450
Equity and stock index300
Commodity150
Other100
Together3,000
What the rule then expects

Total must then be 3,000.

3,000Passes
3,100Fails

A file that reports 3,000 passes. One that reports 3,100 fails, by 100.

The numbers are illustrative, reported to the unit, so the rounding tolerance does not change the result.

Which returns it applies to

Line4 Check runs it on the PRA 108 memorandum items (PRA_MEM) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to PRA 108 memorandum items (PRA_MEM) 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_b2_m: [FS 701.00.02 (C0020-0030)] {r0052} = {r0046} + {r0047} + {r0048} + {r0049} + {r0050} + {r0051}
Show the formulaShow

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

{t: FS701.00.01.02, r: 0052} = {t: FS701.00.01.02, r: 0046} + {t: FS701.00.01.02, r: 0047} + {t: FS701.00.01.02, r: 0048} + {t: FS701.00.01.02, r: 0049} + {t: FS701.00.01.02, r: 0050} + {t: FS701.00.01.02, r: 0051}

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

scope({t: FS701.00.01.02, c: 0020; 0030, seq: False, f: banking, fv: financialstatements})

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.