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2 min readWarningBank of England taxonomy 2.2.0Updated 11 November 2026

Open derivatives: a conditional check (IR.08.01, Bank of England rule IR_bv1766)

A warning on the open derivatives template (IR.08.01), in the quarterly solo (QRS), quarterly group (QRG), annual solo (ARS), annual group (ARG) and annual third-country branch (ARB) returns.

Check your file for this ruleWhat to do if it fails

The rule in plain words

The item "Instrument underlying the derivative (code and type of code)" (IR.08.01.01.01 C0090) is not in a valid format: a code that does not start with ISIN/ or CAU/ should be CUSIP/ followed by eight permitted characters, then one digit, SEDOL/ followed by six capital letters or digits, then one digit, WKN/ followed by six capital letters or digits, BT/ followed by a code, BBGID/BBG followed by eight capital letters or digits, then one digit, RIC/ followed by a code, FIGI/ followed by two capital letters, then "G", then eight capital letters or digits, then one digit, OCANNA/ followed by a code, or left empty

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. 03This 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

Open derivatives - information on positions held (IR.08.01.01.01)

Columns

  • C0060Portfolio
  • C0080Derivatives held in index-linked and unit-linked contracts
  • C0110Use of derivative
  • C0120Delta
  • C0130Notional amount of the derivative
  • C0140Buyer / Seller
  • C0150Premium paid to date
  • C0160Premium received to date
  • C0170Number of contracts
  • C0180Contract size
  • C0190Maximum loss under unwinding event
  • C0200Swap outflow amount
  • C0210Swap inflow amount
  • C0220Initial date
  • C0230Duration
  • C0240Solvency II value
  • C0250Valuation method

Open derivatives - information on positions held (IR.08.01.04.01)

Columns

  • C0010Legal name of the undertaking
  • C0060Portfolio
  • C0080Derivatives held in index-linked and unit-linked contracts
  • C0110Use of derivative
  • C0120Delta
  • C0130Notional amount of the derivative
  • C0140Buyer / Seller
  • C0150Premium paid to date
  • C0160Premium received to date
  • C0170Number of contracts
  • C0180Contract size
  • C0190Maximum loss under unwinding event
  • C0200Swap outflow amount
  • C0210Swap inflow amount
  • C0220Initial date
  • C0230Duration
  • C0240Solvency II value
  • C0250Valuation method

Which returns it applies to

Line4 Check runs it on quarterly solo (QRS), quarterly group (QRG), annual solo (ARS), annual group (ARG) and annual third-country branch (ARB) returns on Bank of England taxonomy 2.2.0. The Bank of England applies it to quarterly group (QRG), annual group (ARG), quarterly solo (QRS), annual solo (ARS) and annual third-country branch (ARB) returns, as a warning.

The Bank’s own words and formula

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

Reported dim:IW doesn't follow "^CUSIP/[A-HJ-NP-Z0-9*@#]{{8}}\d$" or "^SEDOL/[BCDF-HJ-NP-TV-Z0-9]{{6}}\d$" or "^WKN/[A-Z0-9]{{6}}$" or "^BT/.+" or "^BBGID/BBG[BCDF-HJ-NP-TV-Z0-9]{{8}}\d$" or "^RIC/.+" or "^FIGI/[BCDF-HJ-NP-TV-Z]{{2}}G[BCDF-HJ-NP-TV-Z0-9]{{8}}\d$" or "^OCANNA/.+" pattern.
Show the formulaShow

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

if not(matches(dim($v0,$[s2c_dim:IW]), "^ISIN/.*")) and not(matches(dim($v0,$[s2c_dim:IW]), "^CAU/.*")) then matches(dim($v0,$[s2c_dim:IW]), "^(CUSIP/[A-HJ-NP-Z0-9*@#]{8}\d$)|(SEDOL/[BCDF-HJ-NP-TV-Z0-9]{6}\d$)|(WKN/[A-Z0-9]{6}$)|(BT/.+)|(BBGID/BBG[BCDF-HJ-NP-TV-Z0-9]{8}\d$)|(RIC/.+)|(FIGI/[BCDF-HJ-NP-TV-Z]{2}G[BCDF-HJ-NP-TV-Z0-9]{8}\d$)|(OCANNA/.+)") or isNull(dim($v0,$[s2c_dim:IW])) else true()

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.