Featured Product

    EC Amends Regulation on Reporting of Money Market Statistics

    January 25, 2019

    EC published Regulation 2019/113 of ECB on the reporting of money market statistics in the Official Journal of the European Union. This regulation amends the earlier Regulation (EU) No 1333/2014 of ECB (ECB/2014/48), which requires the reporting of statistical data by reporting agents to enable the European System of Central Banks (ESCB) to produce statistics on the euro money market. This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from March 15, 2019.

    To ensure the availability of high-quality statistics on the euro money market, it is necessary to amend certain provisions of Regulation (EU) No 1333/2014 (ECB/2014/48). It is important to ensure that each reporting agent reports to ECB or the relevant national central bank all transactions entered into between the reporting agent and financial corporations (except central banks where the transaction is not for investment purposes) as well as general government and certain non-financial corporations. In addition, it is necessary to ensure that the data collection benefits from the extended mandatory use of the Legal Entity Identifier (LEI) in reporting in EU. Changes have also been made to improve the timeliness of these reports.

    Additional amendments have been made to ensure that statistical information is collected, compiled, and transmitted by reporting agents in a manner that protects the integrity of the information. It is important to emphasize that statistical information received by the national central banks or ECB should be impartial (that is, a neutral representation of observable transactions entered into at arm’s length by the reporting agent), objective, and reliable, to conform with the general principles in the ESCB’s Public commitment on European Statistics. Moreover, the changes are meant to make sure that the reporting agents ensure that any errors in reported statistical information are corrected and communicated to ECB and the relevant national central bank at the earliest possible date.

     

    Related Link: Regulation on Money Market Statistics

    Effective Date: February 14, 2019

    Keywords: Europe, EU, Banking, Money Market Statistics, Regulation 1333/2014, Reporting, Regulation 2019/113, ECB, EC

    Featured Experts
    Related Articles
    News

    EIOPA Report Analyzes Use and Impact of Long-Term Guarantee Measures

    EIOPA submitted—to the European Parliament, the Council of the European Union, and EC—its 2020, fifth, and last annual report on long-term guarantee measures and measures on equity risk.

    December 03, 2020 WebPage Regulatory News
    News

    BIS, SNB, and SIX Announce Successful Completion of CBDC POC

    The BIS Innovation Hub Swiss Centre, SNB, and the financial infrastructure operator SIX announced the successful completion of a joint proof-of-concept (PoC) experiment as part of the Project Helvetia.

    December 03, 2020 WebPage Regulatory News
    News

    EBA Sets Out Treatment of Certain Banking Book Positions Under FRTB

    EBA published the final draft regulatory technical standards for calculation of own funds requirements for market risk, under the standardized and internal model approaches of the Fundamental Review of the Trading Book (FRTB) framework.

    December 03, 2020 WebPage Regulatory News
    News

    EIOPA Consults on Integrating Climate Change into SII Standard Formula

    EIOPA published discussion paper on a methodology for the potential inclusion of climate change in the Solvency II (sometimes also written as SII) standard formula when calculating natural catastrophe underwriting risk.

    December 02, 2020 WebPage Regulatory News
    News

    EU Issues Corrigenda to Investment Firms Directive and Regulation

    EU published, in the Official Journal of the European Union, corrigenda to the Directive and the Regulation on the prudential requirements and supervision of investment firms.

    December 02, 2020 WebPage Regulatory News
    News

    MAS Proposes Changes to Rules Arising from Banking Amendment Act

    MAS proposed amendments to certain regulations, notices, and guidelines arising from the Banking (Amendment) Act 2020.

    December 02, 2020 WebPage Regulatory News
    News

    PRA to Elaborate on Approach to Transposition of CRD5 by Mid-December

    PRA published a statement that explains when to expect further information on the PRA approach to transposing the Capital Requirements Directive (CRD5), including its approach to revisions to the definition of capital for Pillar 2A.

    November 30, 2020 WebPage Regulatory News
    News

    RBNZ Consults on Aspects of Insurance Act, Solvency Standards & IFRS17

    RBNZ launched consultations on the scope of the Insurance Prudential Supervision Act (IPSA) 2010 and on the associated Insurance Solvency Standards.

    November 30, 2020 WebPage Regulatory News
    News

    SRB Sets Out Work Program for 2021-2023

    SRB published the work program for 2021-2023, setting out a roadmap to further operationalize the Single Resolution Fund and to achieve robust resolvability of banks under its remit over the next three years.

    November 30, 2020 WebPage Regulatory News
    News

    EIOPA Consults on KPIs on Sustainability for Non-Financial Reporting

    EIOPA is consulting on the relevant ratios to be mandatorily disclosed by insurers and reinsurers falling within the scope of the Non-Financial Reporting Directive as well as on the methodologies to build these ratios.

    November 30, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 6191