ECB published a regulation (ECB/2021/1) that establishes the minimum reserve requirements for credit institutions, in line with the Capital Requirements Directive (CRD IV: 2013/36/EU), and for certain branches of credit institutions. Another recently published ECB regulation (ECB/2021/2) establishes the reporting requirements for certain reporting agents that are resident in the euro area member states with regard to the statistical information on balance sheet items; these reporting agents include monetary financial institutions other than credit institutions, credit institutions, and certain branches of credit institutions. ECB/2021/1 and ECB/2021/2 shall enter into force on the fifth day following that of its publication in the Official Journal of the European Union. Both regulations shall apply from June 26, 2021, with certain exceptions.
In addition to certain CRD IV credit institutions, ECB/2021/1 also establishes the minimum reserve requirements for "branches of credit institutions, including branches established in member states whose currency is the euro (euro area Member State) of credit institutions with neither their registered office nor their head office located in a euro area member state; but excluding branches established outside of a euro area member state of credit institutions which are established in a euro area member state." ECB/2021/1 includes provisions related minimum reserve holdings by institutions, exemptions from minimum reserve requirements, calculation of reserve base and minimum reserves, maintenance period, remuneration, indirect holding of minimum reserves through an intermediary, and aggregated reporting of the reserve base.
ECB/2021/2 specifies that The actual reporting population shall consist of monetary financial institutions (MFIs) and non-MFI credit institutions that are resident in the territory of the euro area member states. The first reporting of monthly statistical information pursuant to Article 5(1) and (2) of ECB/2021/2 shall start with data for January 2022. The first reporting of quarterly statistical information pursuant to Article 5(1) and (2) shall start with data for the first quarter of 2022. To ensure the continued availability of the necessary data, the quarterly data requirements should be maintained with respect to the reference period of the fourth quarter of 2021. The reporting requirements established pursuant to this ECB/2021/2 should, therefore, apply after the respective reference period for the monthly information to be reported, namely February 01, 2022.
Effective Date: OJ+5 Days
Keywords: Europe, EU, Banking, MFI, Regulatory Capital, Minimum Reserve Requirements, Reporting, CRD IV, ECB
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