The Bank of England has announced it will pause its proposal to discontinue the collection and publication of Form BN data. This decision follows a consultation process during which the Bank gained a better understanding of the Office for National Statistics' (ONS) reliance on these statistics for producing the UK National Accounts.
An assessment by the Bank determined that recreating the necessary statistics using alternative sources, such as Form CC/CL, is not currently feasible due to practical challenges. Consequently, firms currently reporting Form BN, or those advised in the future that they meet the reporting threshold, should continue to submit this data in line with existing requirements until further notification.