EC Amends Regulation on Reporting of Money Market Statistics
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
Previous Article
RBNZ Consults on Review of Capital Adequacy Framework for BanksRelated Articles
|
News
EP Resolution on Proposal for Sovereign Bond Backed SecuritiesThe European Parliament (EP) published adopted text on the proposal for a regulation of the European Parliament and of the Council on sovereign bond-backed securities (SBBS).
April 16, 2019
WebPage
Regulatory News
|
|
News
FDIC Consults on Approach to Resolution Planning for IDIsFDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans.
April 16, 2019
WebPage
Regulatory News
|
|
News
HKMA Decides to Maintain Countercyclical Capital Buffer at 2.5%HKMA announced that, in accordance with the Banking (Capital) Rules, the countercyclical capital buffer (CCyB) ratio for Hong Kong remains at 2.5%.
April 16, 2019
WebPage
Regulatory News
|
|
News
EP Approves Agreement on Package of CRD 5, CRR 2, BRRD 2, and SRMR 2The European Parliament (EP) approved the final agreement on a package of reforms proposed by EC to strengthen the resilience and resolvability of European banks.
April 16, 2019
WebPage
Regulatory News
|
|
News
PRA Seeks Input and Issues Specifications for Insurance Stress TestsPRA announced that it will conduct an insurance stress test for the largest regulated life and general insurers from July to September 2019.
April 15, 2019
WebPage
Regulatory News
|
|
News
PRA Finalizes Policy on Approach to Managing Climate Change RisksPRA published the policy statement PS11/19, which contains final supervisory statement (SS3/19) on enhancing banks’ and insurers’ approaches to managing the financial risks from climate change (Appendix).
April 15, 2019
WebPage
Regulatory News
|
|
News
EC Launches Pilot Phase on Implementation of Ethical Guidelines for AIEC launched a pilot phase to ensure that ethical guidelines for the development and use of artificial intelligence, or AI, can be implemented in practice.
April 15, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: First Update for April 2019EBA published answers to nine questions under the Single Rulebook question and answer (Q&A) updates for this week.
April 12, 2019
WebPage
Regulatory News
|
|
News
EIOPA Statement on Application of Proportionality in SCR SupervisionEIOPA published a supervisory statement on the application of proportionality principle in the supervision of the Solvency Capital Requirement (SCR) calculated in accordance with the standard formula.
April 11, 2019
WebPage
Regulatory News
|
|
News
FED Updates Form and Supplemental Instructions for FR Y-9C ReportingFED updated the form and supplemental instructions for FR Y-9C reporting. FR Y-9C is used to collect data from domestic bank holding companies, savings and loan holding companies, U.S intermediate holding companies, and securities holding companies with total consolidated assets of USD 3 billion or more.
April 11, 2019
WebPage
Regulatory News
|
