Even with good statistical practices, and extensive liaison with users, many statistical collections ultimately become obsolete and need overhauling. Our standard statistical return for the banking system has served us well over the past 15 years but we’re now redeveloping it. That reflects changes in the banking sector over the period and a better understanding of what to monitor in the sector.
For example, the existing return provides little if any data on the banks’ incomes and expenses and other performance metrics. Our hope is that a new collection methodology will serve us well for the next 15 years.