The rule in plain words
In Intragroup financial reporting (detailed breakdown) Derivatives (SR10.00.04.01): every value in the cells it covers must be zero or more.
What to do if your return fails it
- 01Open the table below and find the cells the rule reads.
- 02Look for a value below zero in these cells, such as an amount entered as a negative number.
- 03It runs only when your filing indicators mark SR10.00.04 as reported.
- 04This is a warning. It does not stop the return on its own, but your supervisor may ask you to explain it.
The cells it reads
Intragroup financial reporting (detailed breakdown) Derivatives (SR10.00.04.01)
Rows
- R0010Interest rate
- R0020of which: economic hedges
- R0035options
- R0045other
- R0070Equity
- R0080of which: economic hedges
- R0095options
- R0105other
- R0130Foreign exchange and gold
- R0140of which: economic hedges
- R0155options
- R0165other
- R0190Credit
- R0195of which: economic hedges with use of the fair value option
- R0201of which: other economic hedges
- R0210Credit default swap
- R0220Credit spread option
- R0230Total return swap
- R0240Other
- R0250Commodity
- R0260of which: economic hedges
- R0270Other
- R0280of which: economic hedges
- R0290DERIVATIVES
Columns
- C0010Financial assets held for trading and trading
- C0020Financial liabilities held for trading and trading
- C0030Total Trading
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 warning.
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_v3931_s: T1: SR10.00.04.01; rows: {SR10.00.04.01, r0010-0290}; columns: {SR10.00.04.01, c0010;0020;0030}; Expression: {SR10.00.04.01} >= 0
Show the formulaShowHide
The Bank of England's formula. Cells are written as {t: table, r: row, c: column}.
{t: SR10.00.04.01} >= 0Where it applies, in the Bank's words (its scope):
scope({t: SR10.00.04.01, r: 0010; 0020; 0035; 0045; 0070; 0080; 0095; 0105; 0130; 0140; 0155; 0165; 0190; 0195; 0201; 0210; 0220; 0230; 0240; 0250; 0260; 0270; 0280; 0290, c: 0010; 0020; 0030, seq: False, f: banking, fv: structural_reform})Other rules on Intragroup financial reporting (detailed breakdown) Derivatives (SR10.00.04.01)
- Intragroup financial reporting (detailed breakdown) Derivatives: every value in the cells it covers must be zero or more (boe_v3930_s)Blocking
- Intragroup financial reporting (detailed breakdown) Derivatives: "Credit" must not be less than "of which: other economic hedges" (boe_v5046_m)Blocking
- "Credit" must equal the sum of "Credit default swap", "Credit spread option", "Other" and "Total return swap" (boe_v1950_m)Blocking
- Intragroup financial reporting (detailed breakdown) Derivatives: a conditional check (boe_b1148_m)
- Intragroup financial reporting (detailed breakdown) Derivatives: "DERIVATIVES" must equal the sum of 6 rows (boe_v0852_m)Blocking
- Intragroup financial reporting (detailed breakdown) Derivatives: "of which: economic hedges" must not be more than "Other" (boe_v0851_m)Blocking
- Intragroup financial reporting (detailed breakdown) Derivatives: "of which: economic hedges" must not be more than "Commodity" (boe_v0850_m)Blocking
- "of which: economic hedges with use of the fair value option" must not be more than "Credit" (boe_v0849_m)Blocking
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.