June 18, 2018

EC issued Guideline (EU) 2018/877, which amends the Guideline ECB/2014/15 on the monetary and financial statistics in EU. Guideline (EU) 2018/877 sets out the rules and procedures specifying how national central banks report the required data to ECB using the Register of Institutions and Affiliates Data (RIAD). The guideline shall take effect on the day of its notification to the national central banks of the member states whose currency is the euro.

ECB maintains the RIAD, which is a central repository of reference data on institutional units relevant for statistical purposes. RIAD stores the lists of monetary financial institutions (MFIs), investment funds, financial vehicle corporations, and payment statistics relevant institutions. As the rules and procedures specifying how national central banks report the required data to ECB using RIAD are set out in a separate Guideline, for reasons of legal certainty the provisions of Guideline ECB/2014/15 that deal with such rules and procedures need to be deleted. Regulation (EU) No 1073/2013 of ECB (ECB/2013/38) establishes the requirements for reporting of statistics on the assets and liabilities of investment funds. It is necessary to identify undertakings for collective investment in transferable securities in investment funds statistics, in relation to which a new classification of the existing data will be required, based on information from the RIAD. Therefore, Guideline ECB/2014/15 should be amended accordingly.

ECB needs to monitor the transmission of monetary policy and the impact of changes in the interest rates applied to the main refinancing operations and targeted longer-term refinancing operations and of the purchases conducted under the asset purchase programs on the lending conditions for households and non-financial corporations. To this end, statistical information on securitizations and other transfers by MFIs of loans to households broken down by purpose is required on a monthly basis. Additionally, statistical information on notional cash pooling is required to be able to distinguish the impact of such positions from that of other deposits and loans on the balance sheets of MFIs. Following the establishment of the Single Resolution Board (SRB), which became fully operational on January 01, 2015, it is also necessary that positions vis-à-vis the SRB are reported. It is, therefore, necessary to lay down the formats and procedures that the national central banks of the member states whose currency is the euro must follow to report such information to ECB.

Related Link: Guideline (EU) 2018/877

Keywords: Europe, EU, Banking, Securities, Statistics, Guideline 2018/877, MFI, Reporting, EC