Bank of England releases latest statistics taxonomy, plus transition tool

Posted on June 3, 2022 by Editor

The Bank of England (BoE) has published version 1.2.3 of its XBRL statistics taxonomy. This latest release includes a number of additions and amendments to validation rules, intended to improved reporting quality. A change log is also available, making clear what is new since the last release, and the BoE affirms that all entry points remain the same. All published documents now consistently refer to version 1.2.3 of the taxonomy.

The BoE is currently migrating from its old online Statistical Collection Application (OSCA) system to the new XBRL-driven Bank of England Electronic Data Submission (BEEDS) platform. To aid this process it has also issued a statistical utility tool that will convert spreadsheet data into XBRL reports, as an alternative to using the statistical taxonomy with compatible software. “This utility has been created to assist Firms in the transition to XBRL reporting. It will not be maintained for future updates to the Taxonomy so should be viewed as a temporary solution,” says the Bank.

Read more here and here.

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