Featured Product

    ECB Statement on Statistical Information Collection Amid COVID Crisis

    April 15, 2020

    ECB released a communication to reporting agents on the collection of statistical information in the context of COVID-19 outbreak. ECB is inviting the national central banks and reporting agents to find pragmatic solutions in the existing legal framework to keep data reporting within limits that are manageable for reporting agents, while maintaining the quality of the statistical information at a level that is fit for purpose.

    The national central banks and reporting agents are invited to afford each other the degree of cooperation necessary to achieve this outcome in the context of their specific national circumstances and they will have the full support of ECB in their efforts. Measures to facilitate proportionality in the reporting of statistical information could under the current circumstances include reducing less important quality checks and related interactions necessary to ensure that the statistical information remains fit for purpose. In case of difficulties of reporting, reporting agents should contact their national central banks and ECB, as appropriate, and they will be offered assistance. 

    ECB and the national central banks acknowledge that the COVID-19 pandemic poses considerable and diverse challenges to reporting agents across the euro area and EU. ECB is determined to continue collecting, on a timely basis, high-quality data that is fit for purpose, to have at its disposal the necessary statistical information to adjust all of its measures, as appropriate. The efforts of reporting agents to continue their statistical reporting to ECB and national central banks of the euro area are essential to ensure that all sectors of the economy can benefit from the supportive financing conditions secured by the policy measures of ECB, enabling them to absorb this significant shock. The ECB and the Eurosystem national central banks cooperate closely with other European institutions and bodies and will, together with the reporting agents, rise to these unprecedented challenges and ensure that the data and statistics required to support the necessary policy measures are available and fit for purpose. 

     

    Related Link: ECB Communication (PDF)

     

    Keywords: Europe, EU, Banking, Statistics, Reporting, COVID-19, Proportionality, Data Quality, Data Collection, Statistical Reporting, ECB

    Featured Experts
    Related Articles
    News

    IAIS on Package for 2020 Data Collection on ICS and Aggregation Method

    IAIS published technical specifications, questionnaires, and templates for 2020 Insurance Capital Standard (ICS) and Aggregation Method data collections.

    June 30, 2020 WebPage Regulatory News
    News

    BIS to Establish More Innovation Hubs in Europe and North America

    BIS announced that it will establish new Innovation Hub centers across Europe and in North America in cooperation with member central banks.

    June 30, 2020 WebPage Regulatory News
    News

    FED Updates Form FR 2052a for LCR Reporting by Banks

    FED updated the reporting form for FR 2052a, which is used to monitor the overall liquidity profile of certain supervised institutions.

    June 30, 2020 WebPage Regulatory News
    News

    PRA Statement on Changes to CRR in Response to COVID-19 Crisis

    PRA published a statement that sets out its views on certain amendments made to Capital Requirements Regulations (CRR and CRR2) via EU Regulation 2020/873 (CRR "Quick Fix"), including some guidance for firms.

    June 30, 2020 WebPage Regulatory News
    News

    CFRF Publishes Guide for Addressing Climate-Related Financial Risks

    The Climate Financial Risk Forum (CFRF), which is a joint climate risk forum of FCA and PRA, published a guide written by the industry for the industry to help firms approach and address climate-related financial risks.

    June 29, 2020 WebPage Regulatory News
    News

    IAIS Paper Provides Guidance on Liquidity Risk Management for Insurers

    IAIS published an application paper on liquidity risk management for insurers.

    June 29, 2020 WebPage Regulatory News
    News

    EBA Responds to EC Consultation on Digital Finance Strategy for Europe

    EBA published its response to the EC consultation on a new Digital Finance Strategy for Europe.

    June 29, 2020 WebPage Regulatory News
    News

    EIOPA Responds to EC Consultation on Digital Finance Strategy

    EIOPA responded to the EC consultation on a new digital finance strategy for Europe.

    June 29, 2020 WebPage Regulatory News
    News

    ESMA Responds to EC Consultation on Digital Finance Strategy

    ESMA published its response to the EC consultation on the new digital finance strategy for EU.

    June 29, 2020 WebPage Regulatory News
    News

    FSB Report Identifies Gaps in Too-Big-To-Fail Reforms

    FSB published, for consultation, a report on evaluation of the too-big-to-fail (TBTF) reforms for systemically important banks.

    June 28, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5404