The Bank of England has updated the criteria for firms required to submit Form BT monthly. Under the revised criteria, monthly reporting will generally be required for firms also submitting specified monthly Money and Credit statistical returns.
This change means that some firms currently submitting Form BT monthly will transition to quarterly reporting. Conversely, firms not required to submit Forms BE, BN, GT, or ER will generally submit Form BT quarterly, though the Bank retains discretion to require monthly submissions.
The Bank will individually contact affected firms to confirm changes to their reporting requirements and the effective period. Updated reporting thresholds guidance will be made available on the Bank's website.