Featured Product

    EC Amends Guideline on Monetary and Financial Statistics in EU

    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

    Featured Experts
    Related Articles
    News

    APRA Consults to Standardize Submission Date for Quarterly Reporting

    APRA proposed to standardize quarterly reporting due dates for authorized deposit-taking institutions. The proposed standardized due date is 35 calendar days after the last day of the reference quarter, which will create a 14-calendar-day extension for credit unions and building societies.

    November 08, 2019 WebPage Regulatory News
    News

    EBA Single Rulebook Q&A: First Update for November 2019

    EBA updated the Single Rulebook question and answer (Q&A) tool with answers to two questions. The answers provide clarifications on topics related to own funds and strong customer authentication under the revised Payment Services Directive or PSD2.

    November 08, 2019 WebPage Regulatory News
    News

    FED Proposes to Extend Initial Compliance Dates Under SCCL Rule

    FED published a proposal to extend, by 18 months, the initial compliance dates for foreign banks subject to the single-counterparty credit limit (SCCL) rule.

    November 08, 2019 WebPage Regulatory News
    News

    EBA Publishes Technical Package on Reporting Framework 2.9.1

    EBA published a new release of the reporting framework 2.9.1. This release includes validation rules, Data Point Model (DPM) data dictionary, XBRL taxonomy, and other supporting documents. Additionally, the release fixes some modeling issues on COREP Liquidity and FINREP.

    November 08, 2019 WebPage Regulatory News
    News

    EBA Publishes Methodology and Draft Templates for Stress Tests in 2020

    EBA published a package for the 2020 EU-wide stress test exercise for banks.

    November 07, 2019 WebPage Regulatory News
    News

    EC Publishes Results of Fitness Check of Reporting Requirements in EU

    EC published results of the fitness check of supervisory reporting requirements in financial services legislation in EU.

    November 07, 2019 WebPage Regulatory News
    News

    BCBS Assesses NSFR and LE Rules in Argentina and China as Compliant

    BCBS published reports that assess the implementation of net stable funding ratio (NSFR) and large exposures, or LE, framework in Argentina and China.

    November 07, 2019 WebPage Regulatory News
    News

    FSB Publishes Summary of Plenary Meeting in Paris

    At the meeting, the Plenary reviewed vulnerabilities in the global financial system, fintech developments (including developments in the crypto-asset markets), ongoing work of FSB, and the work program for 2020.

    November 07, 2019 WebPage Regulatory News
    News

    HKMA Highlights Technology Initiatives at the Hong Kong FinTech Week

    HKMA co-organized, with InvestHK, the Hong Kong FinTech Week 2019, which was a five-day flagship fintech event that attracted thousands of attendees worldwide.

    November 06, 2019 WebPage Regulatory News
    News

    ECB Report on Fallback Provisions in Contracts Referencing EURIBOR

    ECB published a report, by private sector working group on euro risk-free rates, presenting recommendations for fallback provisions in contracts for cash products and derivative transactions referencing EURIBOR.

    November 06, 2019 WebPage Regulatory News
    RESULTS 1 - 10 OF 4119