The Bank of England describes the Merlin numbers like this: "these data are not collected under the Bank of England's statistical code of practice and definitions of data vary across banks".
Since the announcement, the AUD is off the boil after the Reserve Bank of Australia comment that the February employment data is subject to some statistical error.
First, they want to build statistical models mapping the severity and frequency of past operational risk losses and use this to judge the amount of the bank's capital at risk from operational failures in the future.