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

    EBA Publishes Phase 2 of Technical Package on Reporting Framework 2.10

    EBA published phase 2 of the technical package on the reporting framework 2.10, providing the technical tools and specifications for implementation of EBA reporting requirements.

    July 10, 2020 WebPage Regulatory News
    News

    FASB Proposes to Delay Implementation of Insurance Contracts Standard

    FASB issued a proposed Accounting Standards Update that would grant insurance companies, adversely affected by the COVID-19 pandemic, an additional year to implement the Accounting Standards Update No. 2018-12 on targeted improvements to accounting for long-duration insurance contracts, or LDTI (Topic 944).

    July 09, 2020 WebPage Regulatory News
    News

    APRA Updates Regulatory Approach to Loan Deferrals Amid COVID Crisis

    APRA updated the regulatory approach for loans subject to repayment deferrals amid the COVID-19 crisis.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS and FSB Set Out Recommendations for Benchmark Transition

    BCBS and FSB published a report on supervisory issues associated with benchmark transition.

    July 09, 2020 WebPage Regulatory News
    News

    IAIS Sets Out Recommendations for Benchmark Transition for Insurers

    IAIS published a report on supervisory issues associated with benchmark transition from an insurance perspective.

    July 09, 2020 WebPage Regulatory News
    News

    ESMA Updates Reporting Manual on European Single Electronic Format

    ESMA updated the reporting manual on the European Single Electronic Format (ESEF).

    July 09, 2020 WebPage Regulatory News
    News

    EBA Calls on Resolution Authorities to Consider Impact of COVID Crisis

    EBA published a statement on resolution planning in light of the COVID-19 pandemic.

    July 09, 2020 WebPage Regulatory News
    News

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    BCBS Finalizes Revisions to Credit Valuation Adjustment Risk Framework

    July 08, 2020 WebPage Regulatory News
    News

    ECB Guideline on Materiality Threshold for Credit Obligations Past Due

    ECB published a guideline (2020/97), in the Official Journal of European Union, on the definition of materiality threshold for credit obligations past due for less significant institutions.

    July 08, 2020 WebPage Regulatory News
    News

    FED Temporarily Revises FR Y-14 With Respect to PPP and CARES Act

    FED temporarily revised the capital assessments and stress testing reports (FR Y-14A/Q/M) to implement the changes in response to the COVID-19 pandemic.

    July 08, 2020 WebPage Regulatory News
    RESULTS 1 - 10 OF 5458