Featured Product

    ECB Statement on Statistical Information Collection Amid COVID Crisis

    April 15, 2020

    ECB released a communication to reporting agents on the collection of statistical information in the context of COVID-19 outbreak. ECB is inviting the national central banks and reporting agents to find pragmatic solutions in the existing legal framework to keep data reporting within limits that are manageable for reporting agents, while maintaining the quality of the statistical information at a level that is fit for purpose.

    The national central banks and reporting agents are invited to afford each other the degree of cooperation necessary to achieve this outcome in the context of their specific national circumstances and they will have the full support of ECB in their efforts. Measures to facilitate proportionality in the reporting of statistical information could under the current circumstances include reducing less important quality checks and related interactions necessary to ensure that the statistical information remains fit for purpose. In case of difficulties of reporting, reporting agents should contact their national central banks and ECB, as appropriate, and they will be offered assistance. 

    ECB and the national central banks acknowledge that the COVID-19 pandemic poses considerable and diverse challenges to reporting agents across the euro area and EU. ECB is determined to continue collecting, on a timely basis, high-quality data that is fit for purpose, to have at its disposal the necessary statistical information to adjust all of its measures, as appropriate. The efforts of reporting agents to continue their statistical reporting to ECB and national central banks of the euro area are essential to ensure that all sectors of the economy can benefit from the supportive financing conditions secured by the policy measures of ECB, enabling them to absorb this significant shock. The ECB and the Eurosystem national central banks cooperate closely with other European institutions and bodies and will, together with the reporting agents, rise to these unprecedented challenges and ensure that the data and statistics required to support the necessary policy measures are available and fit for purpose. 

     

    Related Link: ECB Communication (PDF)

     

    Keywords: Europe, EU, Banking, Statistics, Reporting, COVID-19, Proportionality, Data Quality, Data Collection, Statistical Reporting, ECB

    Featured Experts
    Related Articles
    News

    EC to Defer Application of SFDR Standards Till July 2022

    The European Commission (EC) announced plans to defer the application of 13 regulatory technical standards under the Sustainable Finance Disclosure Regulation (2019/2088) by six months, from January 01, 2022 to July 01, 2022.

    July 23, 2021 WebPage Regulatory News
    News

    BoE Consults on Approach to Setting MREL, Publishes Bail-In Guidance

    The Bank of England (BoE) published a consultation paper on approach to setting minimum requirement for own funds and eligible liabilities (MREL), an operational guide on executing bail-in, and a statement from the Deputy Governor Dave Ramsden.

    July 22, 2021 WebPage Regulatory News
    News

    EBA Seeks Views on Proportionality Assessment Methodology

    The European Banking Authority (EBA) is seeking preliminary input on standardization of the proportionality assessment methodology for credit institutions and investment firms.

    July 22, 2021 WebPage Regulatory News
    News

    US Agencies Propose Changes to Call Reports and Instructions

    Certain regulatory authorities in the US are extending period for completion of the review of certain residential mortgage provisions and for publication of notice disclosing the determination of this review until December 20, 2021.

    July 22, 2021 WebPage Regulatory News
    News

    PRA Finalizes Rulebook Definition of Higher Paid Material Risk-Taker

    The Prudential Regulation Authority (PRA) published the policy statement PS18/21, which introduces an amendment in the definition of "higher paid material risk taker" in the Remuneration Part of the PRA Rulebook.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Examines Asset Encumbrance in Banking Sector

    The European Banking Authority (EBA) published its annual report on asset encumbrance in banking sector.

    July 21, 2021 WebPage Regulatory News
    News

    EBA Publishes Methodological Guide to Mystery Shopping

    The European Banking Authority (EBA) published a methodological guide to mystery shopping.

    July 21, 2021 WebPage Regulatory News
    News

    APRA Issues Update on Capital Reform Policy Settings for Banks

    The Australian Prudential Regulation Authority (APRA) released a letter to authorized deposit-taking institutions to provide an update on key policy settings for the capital framework reforms, which will come into effect from January 01, 2023.

    July 21, 2021 WebPage Regulatory News
    News

    CPMI-IOSCO Assess Continuity Planning of Market Infrastructures

    The Committee on Payments and Market Infrastructures (CPMI) and the International Organization of Securities Commissions (IOSCO) published a report that assesses the business continuity planning activities of financial market infrastructures or FMIs.

    July 21, 2021 WebPage Regulatory News
    News

    ESMA Responds to Proposal Related to Sustainability Standards Board

    The European Securities and Markets Authority (ESMA) has responded to the IFRS consultation on targeted amendments to the IFRS Foundation constitution to accommodate an International Sustainability Standards Board (ISSB) to set IFRS Sustainability Standards.

    July 21, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 7283