Statistical Notice 2023/09

The Prudential Regulation Authority (PRA) has issued a statement (Statistical Notice 2023/09) addressed at banks and building societies that are subject to cash ratio deposits (CRDs) requirements at the Bank of England (BoE). This requirement applies to institutions whose reported average eligible liabilities (ELs) exceed £600 million during the previous 6-month reporting period.
Specifically, the PRA informs that the calculation for the adjustment of institutions‘ individual CRDs is currently taking place and will be published on the BoE’s website on November 20, 2023. The deposits are then due by December 1, 2023. CRD payers will be notified shortly after November 20, 2023 on their revised CRD requirements. Revisions to the average eligible liabilities that shall be reflected in the new CRD ratio must be notified by 5 p.m., November 16, 2023. In this context, the PRA also notes that firms need to ensure that all contact details are up-to-date so as to allow a timely, targeted delivery of the revised CRD figures. A corresponding request for the update of contact information will be sent out by the PRA along with a corresponding survey link. Updates will only be accepted through November 7, 2023.
To find out how the CRDs are calculated, firms may refer to the following link: https://www.bankofengland.co.uk/markets/the-sterling-bond-portfolio.