The rule in plain words
In each of 7 columns (listed below) of Intragroup financial reporting (detailed breakdown) Part 1: Fair value hierarchy: financial instruments at fair value (SR14.00.04.01): "Financial liabilities designated at fair value through profit or loss" (row 0210) must equal the sum of "Deposits" (row 0220), "Debt securities issued" (row 0230) and "Other financial liabilities" (row 0240).
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- 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.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 SR14.00.04 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
Intragroup financial reporting (detailed breakdown) Part 1: Fair value hierarchy: financial instruments at fair value (SR14.00.04.01)
Rows
- R0210Financial liabilities designated at fair value through profit or loss
- R0220Deposits
- R0230Debt securities issued
- R0240Other financial liabilities
Columns
- C0010Level 1
- C0020Level 2
- C0030Level 3
- C0040Level 2
- C0050Level 3
- C0070Level 2
- C0080Level 3
Which returns it applies to
Line4 Check runs it on the intragroup financial reporting (core and detailed breakdowns) (RFB004) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to intragroup financial reporting (core and detailed breakdowns) (RFB004) 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_v0923_m: T1: SR14.00.04.01; columns: {SR14.00.04.01, c0010-0050;0070-0080}; Expression: {SR14.00.04.01, r0210} = sum({SR14.00.04.01, r0220-0240})
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
{t: SR14.00.04.01, r: 0210} = sum({t: SR14.00.04.01, r: 0220; 0230; 0240})Where it applies, in the Bank's words (its scope):
scope({t: SR14.00.04.01, c: 0010; 0020; 0030; 0040; 0050; 0070; 0080, seq: False, f: banking, fv: structural_reform})Other rules on Intragroup financial reporting (detailed breakdown) Part 1: Fair value hierarchy: financial instruments at fair value (SR14.00.04.01)
- "Financial liabilities designated at fair value through profit or loss" must equal "Debt securities issued" (boe_v0922_m)Blocking
- "Financial liabilities held for trading" must equal the sum of 5 rows (boe_v0921_m)Blocking
- "Financial liabilities held for trading" must equal the sum of "Derivatives", "Short positions" and "Debt securities issued" (boe_v0920_m)Blocking
- "Financial assets designated at fair value through profit or loss" must equal the sum of "Debt securities" and "Loans and advances" (boe_v0917_m)Blocking
- "Financial assets designated at fair value through profit or loss" must equal "Debt securities" (boe_v0916_m)Blocking
- "Financial assets held for trading" must equal the sum of "Derivatives", "Equity instruments", "Debt securities" and "Loans and advances" (boe_v0915_m)Blocking
- "Financial assets held for trading" must equal the sum of "Derivatives", "Equity instruments" and "Debt securities" (boe_v0914_m)Blocking
- Every value in the cells it covers must be zero or more (boe_v3943_s)Blocking
Every PRA banking rule on SR14.00.04.01
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.