Form BN reporting maintained after ONS national accounts feedback

In its update to Green Notice 2026/01, the Bank of England confirmed that it will suspend work on phasing out Form BN.

The decision follows detailed feedback from the Office for National Statistics (ONS) during the initial consultation process.

The ONS highlighted a critical reliance on statistical data derived from Form BN to compile the UK National Accounts.

Although the Bank evaluated whether these essential metrics could be recreated using alternative statistical sources, such as Form CC and Form CL, practical implementation challenges render a transition unfeasible at present.

As a result, the regulatory body concluded that preserving the existing reporting stream is necessary to maintain macro-economic data integrity across national accounting frameworks.

Under the updated guidance, all institutions currently subject to Form BN reporting must maintain their regular submission schedules.

The obligation also extends to institutions that may be notified in the future that they meet the relevant reporting threshold.

The Bank specified that existing compliance standards will remain in full force until official notice indicates otherwise.

Reporting institutions should ensure that their regulatory data infrastructure remains prepared for ongoing Form BN submissions.