Guideline (EU) 2021/834 of the European Central Bank of 26 March 2021 on statistical information to be reported on securities issues (ECB/2021/15)
| Published date | 11 June 2021 |
| Official Gazette Publication | Official Journal of the European Union, L 208, 11 June 2021 |
| 11.6.2021 | EN | Official Journal of the European Union | L 208/311 |
GUIDELINE (EU) 2021/834 OF THE EUROPEAN CENTRAL BANK
of 26 March 2021
on statistical information to be reported on securities issues (ECB/2021/15)
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) | Securities issues statistics complement monetary statistics, enhance monetary and financial analyses of those Member States whose currency is the euro (hereinafter ‘euro area’), and are used to assess the role of the euro in international financial markets. Accordingly, statistics on securities issues of euro area residents collected by NCBs should be reported to the ECB. |
| (2) | Securities issues statistics cover issues by entities, including foreign-owned entities, resident in the euro area. Issues by entities located outside the euro area but owned by euro area residents should be treated as issues by non-euro area residents in line with the methodology set out in Regulation (EU) No 549/2013 of the European Parliament and of the Council (1). |
| (3) | The definitions in Council Regulation (EC) No 2533/98 (2) are also relevant for the purposes of reporting pursuant to this Guideline and should therefore apply. |
| (4) | In order for the ECB to perform its tasks, it is appropriate to provide that NCBs report the required information by a specified date. |
| (5) | 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. |
| (6) | 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 needed to fulfil the ECB’s statistical reporting requirements in preparation for such adoption of the euro. Accordingly, the application of this Guideline may be extended to apply to the NCBs of non-euro area Member States for a defined reference period. In addition, for the purposes of enabling the ECB to obtain a comprehensive overview of the statistical information collected and to carry out relevant analyses, the 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. |
| (7) | Common rules should be established for the publication by NCBs of statistical information concerning securities issues in order to ensure an orderly release of the related key aggregates. |
| (8) | 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. |
| (9) | It is necessary to set up a procedure to carry out technical amendments to the Annex 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. |
| (10) | 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) (3), |
HAS ADOPTED THIS GUIDELINE:
Article 1
Subject matter and scope
This Guideline establishes the reporting requirements for national central banks (‘NCBs’) related to securities issues of residents of Member States whose currency is the euro. In particular, this Guideline specifies the statistical information to be reported to the ECB, the frequency of that reporting and the standards applied to that reporting.
Article 2
Definitions
For the purposes of this Guideline, the definitions in Article 1 of Regulation (EC) No 2533/98 apply.
Article 3
Statistical information to be reported on securities issues
1. NCBs shall report to the ECB statistical information on all securities issues, in any currency, by residents of Member States whose currency is the euro, in accordance with the Annex.
2. NCBs shall provide explanations where reporting statistical information to the ECB pursuant to this Article, as referred to in Section 3 of the Annex.
Article 4
Reporting Frequency
1. NCBs shall report to the ECB the statistical information referred to in Article 3 on a monthly basis and no later than five weeks after the end of the month to which the statistical information relates.
2. The ECB shall communicate the exact reporting dates to NCBs in the form of a reporting calendar.
Article 5
Back data reporting requirements in the event of adoption of the euro
Where a Member State whose currency is not the euro adopts the euro following the entry into force of this Guideline, the NCB of that Member State shall report five years of statistical information referred to in the Annex, including the latest reference year, on a best efforts basis to the ECB.
Article 6
Verification
Without prejudice to Regulation (EC) No 2533/98, NCBs shall monitor and verify the quality and reliability of statistical information reported to the ECB pursuant to this Guideline.
Article 7
Revisions
NCBs may revise the statistical information reported pursuant to Article 3 during the regular reporting referred to in Article 4(1).
Article 8
Transmission standards
1. NCBs shall transmit the statistical information to be reported pursuant to this Guideline electronically, using the means specified by the ECB. The statistical message format developed for this electronic exchange of statistical information shall be the format agreed by the ESCB.
2. Where paragraph 1 does not apply, NCBs may use other means of transmitting statistical information with the ECB’s prior consent.
Article 9
Publication
Where NCBs publish national contributions to the monthly euro area aggregates, they shall be the same as reported to the ECB pursuant to this Guideline. Where NCBs reproduce euro area aggregates published by the ECB, they shall reproduce them faithfully.
Article 10
Simplified amendment procedure
Taking account of the views of the Statistics Committee, the ECB’s Executive Board shall make any necessary technical amendments to the Annex to this Guideline provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden on reporting agents in Member States. The Executive Board shall inform the Governing Council of any such amendment without undue delay.
Article 11
Taking effect
1. This Guideline shall take effect on the day of its notification to the NCBs of the Member States whose currency is the euro.
2. The NCBs of the Member States whose currency is the euro and the ECB shall comply with this Guideline from 1 February 2022.
Article 12
Addressees
This Guideline is addressed to all Eurosystem central banks.
Done at Frankfurt am Main, 26 March 2021.
For the Governing Council of the ECB
The President of the ECB
Christine LAGARDE
(1) Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (OJ L 174, 26.6.2013, p. 1).
(2) Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (OJ L 318, 27.11.1998, p. 8).
(3) Guideline (EU) 2021/835 of the European Central Bank of 26 March 2021 repealing Guideline ECB/2014/15 on monetary and financial statistics (ECB/2021/16) (see page 335 of this Official Journal).
ANNEX
REPORTING SCHEME
Section 1: Introduction
Securities issues statistics for the euro area provide two main aggregates:
| — | all issues by euro area residents in any currency, and |
| — | all issues made worldwide in euro, both domestic and international. |
A principal distinction must be drawn on the basis of the residency of the issuer whereby the Eurosystem NCBs collectively cover all issues by the residents of the euro area (1). The Bank for International Settlements (BIS) reports issues by the ‘rest of the world’ (RoW), referring to all non-euro area residents (including international organisations not resident in the euro area).
The table below summarises the reporting requirements.
| Securities issues | |||
| By euro area residents (each NCB reporting on its domestic residents) | By RoW residents (BIS) | ||
| Non-euro area Member States | Other countries | ||
| In euro/national denominations | Block A | Block B | |
| In other currencies (*1) | Block C | Block D not required | |
Section 2: Reporting requirements
Table 1. Block A reporting form for NCBs
| DOMESTIC RESIDENT ISSUERS//EURO/NATIONAL DENOMINATIONS | ||||||
| Outstanding amounts | Gross issues | Redemptions | Net issues (*3) | |||
| A1 | A2 | A3 | A4 | |||
| ||||||
| Total | S1 | S68 | S135 | S202 | ||
| Central bank | S2 | 69 | S136 | S203 | ||
| MFIs other than central banks | S3 | S70 | S137 | S204 | ||
| OFIs | S4 | S71 | S138 | |||
To continue reading
Request your trial