The item "Trigger value" in Open Derivatives is not applicable to interest rate and currency Swaps (CIC '##D3') (IR.08.01, Bank of England rule IR_bv0571_01)

The rule in plain words

What to do if your return fails it

1. 01Open the table below and find the cells the rule reads.
2. 02The check applies only when its first part holds in your return. When it does, the second part must hold too: fix the second part, or correct the first.
3. 03It runs only when your filing indicators mark IR.08.01 as reported.
4. 04This is a blocking check. A return that fails it is normally rejected, so fix it before you submit.

The cells it reads

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS) and annual solo (ARS) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly solo (QRS) and annual solo (ARS) returns, as a blocking check.

The Bank’s own words and formula

In the Bank of England’s list of validations, word for word:

The item "Trigger value" in IR.08.01.01.02 - Open Derivatives is not applicable to interest rate and currency Swaps (CIC '##D3').

Other rules on Open derivatives (IR.08.01)

Every Solvency UK rule on IR.08.01

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.