Guideline (EU) 2021/831 of the European Central Bank of 26 March 2021 on statistical information to be reported on financial intermediaries other than monetary financial institutions (ECB/2021/12)

Celex Number32021O0831
Published date11 June 2021
Date26 March 2021
Date of Signature26 March 2021
Official Gazette PublicationOfficial Journal of the European Union, L 208, 11 June 2021
L_2021208EN.01005901.xml
11.6.2021 EN Official Journal of the European Union L 208/59

GUIDELINE (EU) 2021/831 OF THE EUROPEAN CENTRAL BANK

of 26 March 2021

on statistical information to be reported on financial intermediaries other than monetary financial institutions (ECB/2021/12)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(2) thereof,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Articles 5.1, 12.1 and 14.3 thereof,

Whereas:

(1) In order to fulfil its tasks under the Treaties, the European Central Bank (ECB) requires the reporting of statistical information on financial intermediaries other than monetary financial institutions (MFIs) of Member States whose currency is the euro (the ‘euro area Member States’). This information provides the ECB with a comprehensive statistical overview of the financial activities other than those undertaken by MFIs in the euro area Member States which are treated as a single economic territory. Sufficiently detailed statistical information is necessary to guarantee its analytical applicability for the conduct of monetary and financial analysis at Union level and for the contribution of the European System of Central Banks (ESCB) to the stability of the financial system. Statistical information on financial transactions, as well as statistical information on outstanding amounts, are also used to compile other statistics; in particular, the euro area financial accounts in accordance with Guideline ECB/2013/24 of the European Central Bank (1).
(2) The collection of statistical information from national central banks (NCBs) should be harmonised across the euro area. Accordingly, it is necessary to lay down common rules for the collection and treatment of that information. It is important to ensure that those rules do not impose an unreasonable reporting burden on NCBs. NCBs should therefore report that statistical information to the ECB using the statistical information collected in accordance with Regulation (EU) No 1073/2013 of the European Central Bank (ECB/2013/38) (2), Regulation (EU) No 1075/2013 of the European Central Bank (ECB/2013/40) (3), Regulation (EU) No 1374/2014 of the European Central Bank (ECB/2014/50) (4) and Regulation (EU) 2018/231 of the European Central Bank (ECB/2018/2) (5) and, for some financial intermediaries, statistical information available at national level. The ECB may make use of the statistical information reported pursuant to this Guideline in accordance with Regulation (EC) No 2533/98.
(3) It is therefore necessary to also define the formats and procedures that the NCBs must follow in order to report to the ECB statistical information available at national level relating to the financial intermediaries that are not part of the reporting population under those Regulations.
(4) The definitions in Regulation (EU) No 1073/2013 (ECB/2013/38), Regulation (EU) No 1075/2013 (ECB/2013/40), Regulation (EU) No 1374/2014 (ECB/2014/50), Regulation (EU) 2018/231 (ECB/2018/2) and Council Regulation (EC) No 2533/98 (6) are also relevant for the purposes of reporting pursuant to this Guideline and should therefore apply.
(5) In order to provide a comprehensive statistical overview to the ECB so that it may conduct effective analysis of monetary policy and financial stability at Union level, the ECB requires detailed statistical information on the following financial intermediaries other than MFIs, as categorised in Regulation (EU) No 549/2013 of the European Parliament and of the Council (7), including investment funds (IFs), insurance corporations (ICs) and pension funds (PFs), in addition to information reported on MFIs pursuant to Guideline (EU) 2021/830 of the European Central Bank (ECB/2021/11) (8). NCBs should therefore report separate statistical information for subsectors IF, IC and PF.
(6) The statistical information on subsectors IF, IC and PF reported pursuant to Regulation (EU) No 1073/2013 (ECB/2013/38), Regulation (EU) No 1374/2014 (ECB/2014/50) and Regulation (EU) 2018/231 (ECB/2018/2) includes reporting securities with publicly available identification codes on a security-by-security (s-b-s) basis. In order to report that information to the ECB, NCBs should refer to a functioning centralised securities database (CSDB) or compatible national securities database for the classification of statistics on assets and liabilities of IFs, ICs and PFs.
(7) In order to provide the ECB with an overview of the financial transactions of other financial intermediaries (OFIs) in euro area Member States which are not covered by ECB regulations on statistics, the ECB requires statistical information that is available at the national level on the assets and liabilities held and issued by certain OFIs. NCBs should therefore report that statistical information to the ECB using the statistical information available at national level in accordance with this Guideline. That statistical information should include statistical information on the assets and liabilities of the following OFIs: security and derivative dealers; financial corporations engaged in lending; and specialised financial corporations. Statistical information to be reported on financial vehicle corporations engaged in securitisation transactions (FVCs) (which are categorised as OFIs in Regulation (EU) No 549/2013) should be separated from reporting requirements for OFIs given that their collection from reporting agents is regulated in Regulation (EU) No 1075/2013 (ECB/2013/40).
(8) The ECB requires separate statistical information on the assets and liabilities held and issued by OFIs that are categorised as FVCs in order to monitor the impact of securitisation activities, and in particular the interaction between FVCs and the MFI sector to which it is closely linked. NCBs should therefore report that statistical information separately from the statistical information reported on OFIs to the ECB using the statistical information collected in accordance with Regulation (EU) No 1075/2013 (ECB/2013/40).
(9) The ECB requires statistical information on central counterparties (CCPs) which are categorised as specialised financial corporations within the category of OFIs in Regulation (EU) No 549/2013 and which are not covered by ECB regulations on statistics. The ECB requires that information in order to confirm that the corrections made for MFI loans to and deposits from CCPs in the monetary aggregates and counterparts is appropriate to the actual business carried out by CCPs. NCBs should therefore report that statistical information separately from and in addition to the statistical information reported on OFIs.
(10) With the aim of ensuring that the statistical information on financial intermediaries other than MFIs reported to the ECB is representative of the entire reporting population, common rules on grossing up should be set for those reporting agents that have been granted derogations in accordance with Regulation (EU) No 1073/2013 (ECB/2013/38), Regulation (EU) No 1075/2013 (ECB/2013/40), Regulation (EU) No 1374/2014 (ECB/2014/50) and Regulation (EU) 2018/231 (ECB/2018/2).
(11) In order for the ECB to perform its tasks, it is appropriate that NCBs report the required statistical information by specified dates.
(12) In order to ensure the accuracy and quality of the statistical information collected by the ECB, it is necessary to provide for the monitoring, verification and, where appropriate, the revision of statistical information reported by NCBs. For the same reasons, NCBs should provide explanations to the ECB for revisions that significantly improve the quality of the information.
(13) Article 5 of the Statute of the European System of Central Banks and of the European Central Bank, together with Article 4(3) of the Treaty on European Union, implies that non-euro area Member States which plan to adopt the euro should design and implement measures for the collection of the statistical information required to fulfil the ECB’s statistical reporting requirements in preparation for such adoption of the euro. For the purposes of enabling the ECB to obtain a comprehensive overview of the statistical information collected and to carry out relevant analysis, NCBs of non-euro area Member States that adopt the euro should be required to provide the ECB with statistical information covering a specified period prior to their adoption of the euro.
(14) It is appropriate to provide for a common method of transmission of statistical information reported to the ECB for all NCBs. Accordingly, a harmonised electronic transmission format should be agreed and specified by the ESCB.
(15) It is necessary to set up a procedure to carry out technical amendments to the Annexes to this Guideline in an effective manner, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden. Accordingly, NCBs should propose such technical amendments through the Statistics Committee and account should be taken of the views of the Statistics Committee of the ESCB when following this procedure.
(16) For reasons of legal certainty, NCBs should comply with the provisions of this Guideline from the same date as referred to in Article 2 of Guideline (EU) 2021/835 of the European Central Bank (ECB/2021/16) (9),

HAS ADOPTED THIS GUIDELINE:

SECTION 1

SUBJECT MATTER AND SCOPE

Article 1

Subject matter and scope

1. This Guideline establishes the reporting requirements for national central banks (NCBs) related to statistics on...

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