Bank of England Updates Form BT Reporting Criteria for Banks

The Bank of England has updated its Form BT reporting criteria for banks and building societies to ensure that statistical requirements are met without imposing an excessive compliance burden. The change will shift some firms from monthly to quarterly reporting.

Under the revised criteria, firms required to submit Forms BE, BN, GT or ER will also be required to file Form BT monthly. Firms that do not need to submit any of those forms will generally continue to file Form BT quarterly, unless the Bank decides otherwise.

All banks and building societies with a deposit-taking licence are still required to submit Form BT at least quarterly.