Content of the submission and balance sheet: a conditional check (IRR.01.01, IRR.02.01, Bank of England rule IR_bv0892_03)

The rule in plain words

The headline gives only the template and the kind of check, because the rule is too long to say in a headline. The plain words above say all of it.

What to do if your return fails it

1. 01Open the tables 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. 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 IRR.01.01 and IRR.02.01 as reported.
5. 05This 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 annual third-country branch (ARB) return on Bank of England taxonomy 2.2.0. The Bank of England applies it to annual third-country branch (ARB) 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 "Investments (other than assets held for index-linked and unit-linked contracts)" reported in IRR.02.01 - Balance sheet [RFF/MP/RM] should be equal to the sum of "Property (other than for own use)", "Holdings in related undertakings, including participations", "Equities", "Bonds", "Collective Investments Undertakings", "Derivatives", "Deposits other than cash equivalents", and "Other investments".

Other rules on Content of the submission (IRR.01.01)

Every Solvency UK rule on IRR.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.