The rule in plain words
In column "Current period: Intragroup transactions" (column 0010) of Statement of profit or loss (SR02.00.03.01): "Dividend income" (row 0160) must equal the sum of "Financial assets held for trading" (row 0170), "Non-trading financial assets mandatorily at fair value through profit or loss" (row 0175), "Financial assets at fair value through other comprehensive income" (row 0191) and "Investments in subsidiaries, joint ventures and associates other than accounted for using the equity method" (row 0192).
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
- 01Open the table below and find the cells the rule reads.
- 02Add up the parts in your return and compare the result with the total.
- 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.
- 04The Bank of England allows a small rounding difference, worked out from the decimals each value is reported with.
- 05It runs only when your filing indicators mark SR02.00.03 as reported.
- 06This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.
The cells it reads
Statement of profit or loss (SR02.00.03.01)
Rows
- R0160Dividend income
- R0170Financial assets held for trading
- R0175Non-trading financial assets mandatorily at fair value through profit or loss
- R0191Financial assets at fair value through other comprehensive income
- R0192Investments in subsidiaries, joint ventures and associates other than accounted for using the equity method
Column
- C0010Current period: Intragroup transactions
Which returns it applies to
Line4 Check runs it on the intragroup financial reporting (core) (RFB003) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to intragroup financial reporting (core) (RFB003) 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_v0789_m: T1: SR02.00.03.01; columns: {SR02.00.03.01, c0010}; Expression: {SR02.00.03.01, r0160} = sum({SR02.00.03.01, r0170-0192})
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
{t: SR02.00.03.01, r: 0160} = sum({t: SR02.00.03.01, r: 0170; 0175; 0191; 0192})Where it applies, in the Bank's words (its scope):
scope({t: SR02.00.03.01, c: 0010, seq: False, f: banking, fv: structural_reform})Other rules on Statement of profit or loss (SR02.00.03.01)
- Statement of profit or loss: "(Interest expenses)" must equal the sum of 5 rows (boe_v0788_m)Blocking
- Statement of profit or loss: a total must equal the sum of its parts (boe_v0790_m)Blocking
- Statement of profit or loss: "Interest income" must equal the sum of 7 rows (boe_v0787_m)Blocking
- "(Provisions or (-) reversal of provisions)" must equal the sum of "(Commitments and guarantees given)" and "(Other provisions)" (boe_v0792_m)Blocking
- Statement of profit or loss: a total must equal the sum of its parts (boe_v0793_m)Blocking
- Statement of profit or loss: a total must equal the sum of its parts (boe_v0795_m)Blocking
- Statement of profit or loss: "(Administrative expenses)" must equal the sum of "(Other administrative expenses)" and "(Staff expenses)" (boe_v0141_h)Blocking
- Statement of profit or loss: values must agree (boe_v1699_m)Blocking
Every PRA banking rule on SR02.00.03.01
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.