Further details about monetary financial institutions in the UK: Total income and expenditure (domestic and non-resident business) data

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Bankstats tables

Overview

Table B3.1 contains selected income and expenditure data of Monetary Financial Institutions (MFIs) in the UK that feed into the National Accounts. It comprises data series on net interest receivable, net charges, fees and commissions receivable, net dividends received and other income less expenditure. The interest receivable and payable data are broken down into money market instruments, loans and advances, deposits, repos and reverse repos and bonds. Some figures are explicitly stated to only include business of the UK resident entity in non-resident markets. All other figures include business in both domestic and non-resident markets.

The Interactive Database contains further detail on MFIs in the UK: Total income and expenditure (domestic and non-resident business) and selected income and expenditure data of MFIs in the UK receivable from and payable to non-residents comprising data series on commissions and fees and investment income. Investment income data are broken down into Direct income (branches’ profits and losses and ‘Other’), Portfolio income and ‘Other’ income. Net data are shown for all items except Portfolio investment and Total income.

Availability

Data are available quarterly from 1998 Q1. Publication of data will usually occur on the 21st working day of the month in Monetary financial institutions' quarterly income and expenditure (Table B3.1) with the most recent quarter available in the publication for the third month after the end of the quarter.

Following the transition of building societies statistical reporting from the FSA to the Bank of England on 1st January 2008, all figures in Table B3.1 include building society data from 2008 Q1 data onwards.

Sources

Data up until end 2003 are taken from the Form A3. Data from 2004 Q1 are from the Form PL which replaced Forms A3 and BP. Annual data were reported by all UK-resident banks up to 2006. There is now around 98 per cent coverage from institutions reporting on an annual basis, based on gross assets/liabilities as reported quarterly on Form BT. Coverage from institutions reporting on a quarterly basis is around 95 per cent, with estimates derived for the other banks.

Building society data reported on Form PL are included from 2008 Q1, with coverage similar to that for banks. Estimates are derived for other building societies.

Revisions

All data are subject to revision if and when new information becomes available. For more information on revisions practices see further details about revisions.

Definitions

Interest receivable/payable on money market instruments: includes interest on certificates of deposit, promissory notes, commercial paper and other short-term negotiable paper.

Interest receivable/payable on loans and advances/deposits: interest debited from loan or overdrawn accounts/interest credited on deposit liabilities or accounts in credit.

Interest receivable/payable on repos/reverse repos: the difference between the sale and repurchase price of (reverse) repos and (for buy-sell back repos) the value of the interest/dividend that is receivable/payable from securities reverse repoed in/out.

Interest receivable/payable on bonds includes interest on all bonds and floating rate notes.

Dividends received/paid: cash dividends received or paid during the period. This includes any bonus/scrip issues (i.e. issues of new fully-paid shares to existing shareholders on a basis pro rata to existing holdings) and manufactured dividends (i.e. dividends paid on stock lending and short selling).

Fees and commissions receivable/payable: direct receipts/payments on services relating for example to the issue of new securities, investment management services, arrangement of loans and advances and current account services.

Other operating income and expenditure: includes rent received/paid on land and buildings, receipts/payments on finance leases, and all other income and current expenditure (such as staff costs, occupancy costs, intragroup cost recharges and depreciation). Expenditure excludes tax and provisions.

Valuation and Breaks

Data are collected on an accruals accounting basis except for dividends which are collected on a cash basis. Data are collected according to the international statistical standards, which may not be comparable to data prepared in accordance with International Financial Reporting Standards.
Building societies are included with effect from 2008 Q1.

From 2009 Q2 data on banks and building societies’ covered bond entities are included on a consolidated basis.

From 2010 Q1 data on banks’ and building societies’ securitisation special purpose entities are included on a consolidated basis.

Further information

Revisions to UK GDP and the Balance of Payments current account sourced from Bank of England by Lauren Bowers and Katrina Farrell, (2014) Statistics article, September
Analysis of UK resident monetary financial institutions’ profit and loss statistics by Lauren Bowers, (2014) Statistics article, June
Annual profit and loss of UK resident Monetary Financial Institutions by Perry Francis, (2011) Statistics article, April
UK banks' income and expenditure by Will Kerry and Daniel Wallace, (2001), Statistics article, March