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Items tagged with "Bank of England"

PRA’s evaluation confirms success of written auditor reporting policy

The UK’s Prudential Regulation Authority (PRA) has assessed the effectiveness of its Written Auditor Reporting policy. This policy, designed to enhance dialogue and report quality between auditors and supervisors, has proven highly successful.

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Deep learning models in finance: trustworthiness and implications for regulation

Deep learning models, often the bedrock of machine learning and artificial intelligence, are playing an increasingly large role in financial analysis. These models, while powerful, lack transparency – often known as ‘black boxes’ due to the opacity of their algorithms.

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In the absence of standards, machine-learning reveals climate risks

The Bank of England is undertaking research into voluntary climate-related disclosures of UK financial institutions via machine learning. The research aims to understand asymmetries between firms and investors, look at how disclosure practices differ across firms, and to shed light on the decision of whether to make climate-related reporting mandatory.

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OSCA switched off as Bank of England transitions to BEEDS

Over the past two years the Bank of England has been transforming the way it gathers regulatory and statistical reporting data, transitioning statistical data collection to XBRL. On 1 December this transition was completed with the final sunsetting of the prior Online Statistical Collection Application (OSCA) system.

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Bank of England to adopt XBRL for Statistical Submissions

The Bank of England (BoE) recently published a proposal to shift the submission of a range of statistical data into XBRL format.

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Increasing Transparency in Bank Resolution

After the 2008 financial crisis, governments around the world took steps to make it easier to resolve failing banks. In the UK, those steps included setting up the Resolvability Assessment Framework (RAF), which launched in 2019.

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BoE publishes Taxonomy Update

Last week the Bank of England published an update to the release note published alongside the Bank of England Banking Taxonomy 3.3.0. The update includes minor amendments to the validation files included with the taxonomy. Read more and access the files here.

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Bank of England Update ASFV Taxonomy

The Bank of England has now published an updated taxonomy (v1.1.0) and associated validation rules for forms AS and FV, which represent key aspects of the bank’s statistical data collection in XBRL. Read more here.

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News Item

Bank of England Releases Regulatory Guidelines

The Bank of England has released an updated supervisory statement outlining guidelines for completing regulatory reports in the light of the latest updates to the UK’s PRA rulebook. The guidelines include two new regulatory reporting guidelines due to come into effect in January 2019, around the use of financial market infrastructures and excluded activities and […]

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Bank of England Steps Up Call for Climate Action

In the first such move by a central bank worldwide, the Bank of England (BoE) has stepped up its calls for financial institutions to take action on climate change with the release of a set of proposed supervisory rules.

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