Bank of England sets statistics taxonomy update for June 2026 submissions

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Ashutosh Sureka

4 hours ago

Bank of England sets statistics taxonomy update for June 2026 submissions — BoE taxonomy update 2026

UK lenders and other reporting firms face a mid-June 2026 deadline to use the Bank of England Statistics Taxonomy v1.3.1 for LIVE submissions tied to end-May data. The update changes technical and validation features but does not alter reporting requirements, while also ending support for the Bank's Statistical Utility tool.

Highlights

Bank of England requires firms to use Statistics Taxonomy v1.3.1 for LIVE submissions of end-May data from mid-June 2026, following technical enhancements and data model changes.
Version 1.3.1 is not backwards compatible with v1.3.0, and submissions created under the previous version will no longer be accepted once the new taxonomy takes effect.
The update ends support for the Statistical Utility tool, requiring firms to secure alternative solutions for generating XBRL files compliant with v1.3.1 before June 2026.

June 2026 implementation requirements

As reported by the Bank of England, firms must use the updated Statistics Taxonomy v1.3.1 for LIVE submissions relating to end-May data, which are due from mid-June 2026. The central bank says the revision follows a public working draft and feedback from firms, and includes technical enhancements, validation fixes and data point model changes.

The Bank says reporting requirements remain unchanged, and firms should continue using the existing published definition documents when preparing submissions. It also warns that v1.3.1 is not backwards compatible with v1.3.0, meaning instance documents created under the older version will not be valid for submission once the new taxonomy takes effect.

Firms are asked to update reporting systems and processes, confirm internally generated XBRL instance documents point to the correct taxonomy entry points, and check readiness with software providers where relevant. They are also told to review the published change log and supporting materials, and ensure internal teams understand that submissions using the previous taxonomy version will no longer be accepted.

Operational impact on reporting firms

The update applies across the Bank of England Statistics Taxonomy framework and is presented as a technical revision rather than a policy change in reporting obligations. Filing indicators are being aligned across statistics reporting to the format XX.XX.XX, with the Bank giving FI.01.01 as an example.

The Bank also says its Statistical Utility tool will no longer be supported as part of this taxonomy update. Firms that have relied on that tool to generate XBRL files need to put alternative arrangements in place before implementation, either through a recognised software provider or another internal solution capable of producing valid XBRL instance documents under v1.3.1.

Sample files published alongside the update are for illustration only and should not be assumed to meet all validation or filing rules. The Bank says firms should complete any required testing and internal assurance before submitting LIVE returns, and directs them to the taxonomy package, change log, sample files and XBRL filing manual for further detail.

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