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

    EBA Issues Erratum for Phase 2 Package of Reporting Framework 3.0

    EBA published an erratum for the technical package on phase 2 of the reporting framework 3.0.

    April 08, 2021 WebPage Regulatory News
    News

    MAS Amends Notice on Related Party Transactions of Banks

    MAS amended Notice 643A that addresses requirements for banks to prepare statements of exposures and credit facilities to related concerns or parties.

    April 08, 2021 WebPage Regulatory News
    News

    ECB Amends Guideline on Euro Short-Term Rate

    ECB has published, in the Official Journal of the European Union, the Guideline 2021/565 on the euro short-term rate (€STR) and this guideline amends the previous ECB Guideline 2019/1265.

    April 07, 2021 WebPage Regulatory News
    News

    EBA Consults on Standards Related to FRTB-SA

    EBA launched a consultation on the draft regulatory technical standards on the list of countries with an advanced economy for calculating the equity risk under the alternative standardized approach (FRTB-SA).

    April 07, 2021 WebPage Regulatory News
    News

    PRA Proposes Rules Related to IRB Approach for Credit Risk

    PRA is proposing, via CP7/21, the approach to implementing new requirements related to the specification of the nature, severity, and duration of an economic downturn in the internal ratings-based (IRB) approach to credit risk.

    April 07, 2021 WebPage Regulatory News
    News

    BoE Outlines Regulatory Treatment of Recovery Loan Scheme of UK

    The UK government launched the Recovery Loan Scheme (RLS) as part of its continued COVID-19 support for UK businesses, as announced by HM Treasury on March 03, 2021.

    April 06, 2021 WebPage Regulatory News
    News

    FSB Addresses G20 on COVID Measures, TBTF Reforms, and Climate Risks

    FSB published a letter, from its Chair Randal K. Quarles, to the G20 Finance Ministers and Central Bank Governors, ahead of their virtual meeting on April 07, 2021.

    April 06, 2021 WebPage Regulatory News
    News

    OSFI Unwinds Temporary Increase to Covered Bond Limit for Banks

    OSFI issued a letter to the deposit-taking institutions issuing covered bonds and announced the unwinding of the temporary increase to the covered bond limit for deposit-taking institutions, effective immediately.

    April 06, 2021 WebPage Regulatory News
    News

    EU Amends CRR and Securitization Regulation in Response to Pandemic

    To support recovery from the COVID-19 crisis, EU has published two regulations to amend the securitization framework, as set out in the Securitization Regulation (2017/2402) and the Capital Requirements Regulation or CRR (575/2013).

    April 06, 2021 WebPage Regulatory News
    News

    HM Treasury Announces G7 Agreement on Green Agenda Ahead of COP26

    HM Treasury announced that G7 Finance Ministers and Central Bank Governors met ahead of COP 26, the 2021 UN Climate Change Conference, and agreed on green agenda.

    April 06, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6821