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

Every value in "Negative fair value (liability)" in "Protection bought" and "Protection sold" must be zero or less (C34.09.01.01, Bank of England check v10482_s)

A warning on the counterparty credit risk: credit derivatives exposures (CCR 9) template (C34.09.01.01), 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 Counterparty credit risk: credit derivatives exposures (CCR 9) (C34.09.01.01): every value in "Negative fair value (liability)" (row 0080) in "Protection bought" (column 0030) and "Protection sold" (column 0040) must be zero or less.

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 bigger than it may be, one of them is wrong: check both before you change either.
  3. 03It runs only when your filing indicators mark C34.09.01 as reported.
  4. 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

Counterparty credit risk: credit derivatives exposures (CCR 9) (C34.09.01.01)

Row

  • R0080Negative fair value (liability)

Columns

  • C0030Protection bought
  • C0040Protection sold

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:

v10482_s: [C34.09.01.01 (r0080, c0030;0040)] {C34.09.01.01} <= 0
Show the formulaShow

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

{t: C34.09.01.01, r: 0080, c: 0030; 0040} <= 0

Every PRA banking rule on C34.09.01.01

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.