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

The sum of "Long derivative positions" and "Short derivative positions" must equal "Total" (C34.01.01.01, Bank of England check v09802_m)

A warning on the counterparty credit risk: size of the derivative business (CCR 1) template (C34.01.01.01), in the own funds (PRA001) return.

Line4 Check runs it on the own funds (PRA001) return, proven on test files, check by check: the same outcome on all three test files of that return.

Check your file for this ruleWhat to do if it fails

The rule in plain words

In each of "Size of the derivative business" (row 0010), "On- and off-balance sheet derivatives" (row 0020) and "(-) Credit derivatives that are recognised as internal hedges against non-trading book credit risk exposures" (row 0030) of Counterparty credit risk: size of the derivative business (CCR 1) (C34.01.01.01): the sum of "Long derivative positions" (column 0040) and "Short derivative positions" (column 0050) must equal "Total" (column 0060).

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  3. 03If they differ, a part is missing, a value sits in the wrong cell, or the total is out of date.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 C34.01.01 as reported.
  6. 06This 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

Counterparty credit risk: size of the derivative business (CCR 1) (C34.01.01.01)

Rows

  • R0010Size of the derivative business
  • R0020On- and off-balance sheet derivatives
  • R0030(-) Credit derivatives that are recognised as internal hedges against non-trading book credit risk exposures

Columns

  • C0040Long derivative positions
  • C0050Short derivative positions
  • C0060Total

A worked example

With simple numbers.

Illustrative values
Long derivative positions1,200
Short derivative positions800
Together2,000
What the rule then expects

Total must then be 2,000.

2,000Passes
2,100Fails

A file that reports 2,000 passes. One that reports 2,100 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 own funds (PRA001) return on Bank of England banking taxonomy 4.1.1. The Bank of England applies it to own funds (PRA001) 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:

[v09802_m];[scope({t: C34.01.01.01, r:0010;0020;0030})];[{t: C34.01.01.01, c: 0040} + {t: C34.01.01.01, c: 0050} = {t: C34.01.01.01, c: 0060}]
Show the formulaShow

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

{t: C34.01.01.01, c: 0040} + {t: C34.01.01.01, c: 0050} = {t: C34.01.01.01, c: 0060}

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

scope({t: C34.01.01.01, r:0010;0020;0030, f: banking, fv: banking_reporting})

Every PRA banking rule on C34.01.01.01

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.