Official Bank Rate and Operating and Financial Review: Difference between pages

Revision as of 09:20, 4 April 2014

(OFR).

Financial reporting.

The OFR described the performance and development of the company and was intended to aid third parties to assess its strategy.

It was a mandatory legal requirement in a UK Annual Report (up to 2006).

Now replaced by the Strategic Report.

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+(OFR).
-''UK.''
+''Financial reporting''.
+The OFR described the performance and development of the company and was intended to aid third parties to assess its strategy.
-The official reference interest rate for the UK determined by the Bank of England's Monetary Policy Committee (MPC).
+It was a mandatory legal requirement in a UK Annual Report (up to 2006).
-The Official Bank Rate is the rate used for certain key transactions between the Bank of England ('the Bank') and financial institutions.
+Now replaced by the Strategic Report.
-It is designed to have the effect of determining the level of near risk-free interest rates throughout the UK financial sector.
-It is used by many financial institutions when setting interest rates for certain of their products.
-The Official Bank Rate is often known - externally to the Bank - as the 'Bank of England Base Rate' (BBR).
-Within the Bank of England, it is often abbreviated to 'the Bank Rate'.
+== See also ==
+* [[Annual report]]
+*[[Strategic report]]
-.
+[[Category:Accounting_and_Reporting]]
-Similar interest rates in other jurisdictions.
-== See also ==
-* [[Bank of England]]
-* [[Bank Rate]]
-* [[Base rate]]
-* [[Monetary Policy Committee]]
-* [[MLR]]
-* [[Reference rate]]