Green notice 2026/02
The Bank of England will continue collecting Form BN data after consultation revealed its necessity for UK National Accounts compiled by the ONS, despite plans to discontinue it.
The Bank of England issued Green Notice 2026/01 proposing to stop collecting and publishing Form BN data, followed by a consultation. The notice updates stakeholders on the assessment of this proposal and outlines next steps. The consultation highlighted the reliance of the Office for National Statistics (ONS) on statistics derived from Form BN for producing the UK National Accounts. The Bank of England acknowledged the importance of these statistics in maintaining the accuracy of national economic data.
The Bank of England assessed whether alternative sources, such as Form CC/CL, could replace the data currently collected via Form BN. However, it determined that recreating these statistics using other sources is not currently feasible due to practical challenges. These challenges include differences in data coverage, granularity, and methodological alignment required for accurate national accounts compilation.
As a result, the Bank of England will continue collecting Form BN data to ensure the ONS can maintain the integrity and completeness of the UK National Accounts. The decision reflects the need to preserve the reliability of economic statistics that inform policy and public understanding. The Bank of England will provide further details on the continuation of Form BN data collection in subsequent communications.
The Bank of England invites stakeholders to provide feedback on the continuation of Form BN data collection by the specified deadline. This feedback will inform any adjustments to the process or timelines. The notice emphasizes the Bank’s commitment to transparency and collaboration with data users, including the ONS, to ensure the continued availability of high-quality economic statistics.