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 Insights
|
News
US Agencies Extend Consultation Period for the Proposed SA-CCRUS Agencies (FDIC, FED, and OCC) extended the comment period for a proposed rule to update their standards for how firms measure counterparty credit risk posed by derivative contracts.
February 18, 2019
WebPage
Regulatory News
|
|
News
FED Extends Consultation Period for Stress Testing RuleFED has published in the Federal Register a notice proposing amendments to the company run and supervisory stress test rules.
February 15, 2019
WebPage
Regulatory News
|
|
News
EBA Single Rulebook Q&A: Third Update for February 2019EBA published answers to two questions under the Single Rulebook question and answer (Q&A) updates for this week.
February 15, 2019
WebPage
Regulatory News
|
|
News
FSB Report Examines Financial Stability Implications of FintechFSB published a report that assesses fintech-related market developments and their potential implications for financial stability.
February 14, 2019
WebPage
Regulatory News
|
|
News
US Agencies Amend Regulatory Capital Rule to Allow Phase-In for CECLUS Agencies (FDIC, FED, and OCC) adopted the final rule to address changes to credit loss accounting under the U.S. generally accepted accounting principles; this includes banking organizations’ implementation of the current expected credit losses (CECL) methodology.
February 14, 2019
WebPage
Regulatory News
|
|
News
FED Issues Correction in Historical Dataset in its 2019 Stress TestsFED identified an error in the historical dataset used in its 2019 stress tests and issued a correction.
February 13, 2019
WebPage
Regulatory News
|
|
News
OCC Consults on Company-Run Stress Test Requirements for BanksOCC proposed amendments to its company-run stress testing requirements for national banks and Federal savings associations, consistent with section 401 of the Economic Growth, Regulatory Relief, and Consumer Protection (EGRRCP) Act.
February 12, 2019
WebPage
Regulatory News
|
|
News
CFTC Extends Comment Periods for Trade Execution Requirement ProposalsCFTC announced that it is extending comment period for the proposed amendments related to the regulations on swap execution facilities (SEF) and trade execution requirement.
February 12, 2019
WebPage
Regulatory News
|
|
News
BCBS Updates Instructions for Basel III Monitoring ExerciseBCBS updated instructions for Basel III monitoring for the collection of December 2018 data from the participating banks.
February 12, 2019
WebPage
Regulatory News
|
|
News
OCC Proposes to Renew Information Collection Under Stress Test RuleOCC is proposing to renew its information collection titled “Annual Stress Test Rule” (OMB Control No: 1557-0311). Comments must be received on or before March 13, 2019.
February 11, 2019
WebPage
Regulatory News
|
