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

"Credit" must equal the sum of "Credit default swap", "Credit spread option", "Other" and "Total return swap" (SR10.00.04.01, Bank of England check boe_v1950_m)

A blocking check on the intragroup financial reporting (detailed breakdown) Derivatives template (SR10.00.04.01), in the intragroup financial reporting (core and detailed breakdowns) (RFB004) return.

Line4 Check runs it on the intragroup financial reporting (core and detailed breakdowns) (RFB004) 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 "Financial assets held for trading and trading" (column 0010), "Financial liabilities held for trading and trading" (column 0020), "Total Trading" (column 0030) and "of which: sold" (column 0040) of Intragroup financial reporting (detailed breakdown) Derivatives (SR10.00.04.01): "Credit" (row 0190) must equal the sum of "Credit default swap" (row 0210), "Credit spread option" (row 0220), "Other" (row 0240) and "Total return swap" (row 0230).

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  3. 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.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 SR10.00.04 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

Intragroup financial reporting (detailed breakdown) Derivatives (SR10.00.04.01)

Rows

  • R0190Credit
  • R0210Credit default swap
  • R0220Credit spread option
  • R0230Total return swap
  • R0240Other

Columns

  • C0010Financial assets held for trading and trading
  • C0020Financial liabilities held for trading and trading
  • C0030Total Trading
  • C0040of which: sold

A worked example

With simple numbers.

Illustrative values
Credit default swap1,200
Credit spread option800
Other450
Total return swap300
Together2,750
What the rule then expects

Credit must then be 2,750.

2,750Passes
2,850Fails

A file that reports 2,750 passes. One that reports 2,850 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 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_v1950_m: T1: SR10.00.04.01; columns: {SR10.00.04.01, c0010;0020;0030;0040}; Expression: {SR10.00.04.01, r0190} = {SR10.00.04.01, r0210} + {SR10.00.04.01, r0220} + {SR10.00.04.01, r0240} + {SR10.00.04.01, r0230}
Show the formulaShow

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

{t: SR10.00.04.01, r: 0190} = {t: SR10.00.04.01, r: 0210} + {t: SR10.00.04.01, r: 0220} + {t: SR10.00.04.01, r: 0240} + {t: SR10.00.04.01, r: 0230}

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

scope({t: SR10.00.04.01, c: 0010; 0020; 0030; 0040, seq: False, f: banking, fv: structural_reform})

Every PRA banking rule on SR10.00.04.01

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.