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

"Commodity risk" must not be less than "Of which: electricity" (C34.04.01.01, Bank of England check v09828_m)

A warning on the counterparty credit risk: CCR exposures treated with the original exposure method (OEM) (CCR 4) template (C34.04.01.01), 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 "Number of transactions" (column 0010), "Notional amounts" (column 0020), "Current market value (CMV), positive" (column 0030) and "Potential future exposure (PFE)" (column 0050) of Counterparty credit risk: CCR exposures treated with the original exposure method (OEM) (CCR 4) (C34.04.01.01): "Commodity risk" (row 0060) must not be less than "Of which: electricity" (row 0070).

What to do if your return fails it

  1. 01Open the table below and find the cells the rule reads.
  2. 02Compare the values in your return. If the first is smaller than it may be, one of them is wrong: check both before you change either.
  3. 03The Bank of England allows a small rounding difference, worked out from the decimals each value is reported with.
  4. 04It runs only when your filing indicators mark C34.04.01 as reported.
  5. 05This 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: CCR exposures treated with the original exposure method (OEM) (CCR 4) (C34.04.01.01)

Rows

  • R0060Commodity risk
  • R0070Of which: electricity

Columns

  • C0010Number of transactions
  • C0020Notional amounts
  • C0030Current market value (CMV), positive
  • C0050Potential future exposure (PFE)

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:

v09828_m: [C34.04.01.01 (c0010;0020;0030;0050)] {r0060} >= {r0070}
Show the formulaShow

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

{t: C34.04.01.01, r: 0060} >= {t: C34.04.01.01, r: 0070}

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

scope({t: C34.04.01.01, c:0010;0020;0030;0050, f: banking, fv: banking_reporting})

Every PRA banking rule on C34.04.01.01

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.