Update to Statistical Data Point Model
The Bank’s Data and Statistics Division would like to give notice of our intention to update the Statistical Data Point Model. We plan to release a public working draft (PWD) of the updated taxonomy and data point model in Q4 2024. A UAT window will be available for testing after the release of the PWD. Exact dates will be communicated later in the year along with final implementation dates.
The taxonomy, data point model (DPM) dictionary, annotated templates and validation rules represent the reporting requirements outlined on the Forms, definitions and validations page of the Bank of England website, and collected under the Statistical Code of Practice. Reporting requirements are unchanged as result of this planned update to the DPM, and therefore our published definition documents should continue to be used. The focus of this release is to address known issues in the data modelling and validation rules, and refinement to the data model to ensure alignment with these definitions.
Please note, the Bank’s Statistical Utility tool will be withdrawn with this update to the DPM. As previously advised, the utility tool was made available to assist firms with the transition to XBRL reporting in 2022.
Alternative solutions for reporting XBRL can be found on XBRL Certified Software.
This website has a list of software which hold a certification and states that: “For the preparers of XBRL Reports, this list gives confidence that reports will be accepted and correctly understood by consumers including regulators.” Please note: the Bank hasn’t been involved in the creation of this list and do not recommend or endorse any particular suppliers/tools.