LegalizeCouncil Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank
Article 1
Definitions
For the purposes of this Regulation:
‘the ECB’s statistical reporting requirements’ shall mean the statistical information which reporting agents are required to provide and which is necessary for the tasks of the ESCB to be performed;
1a. ‘European statistics’ shall mean statistics that are: (i) necessary to undertake the ESCB’s tasks as referred to in the Treaty; (ii) determined in the ESCB’s statistical work programme; and (iii) developed, produced and disseminated in conformity with the statistical principles referred to in Article 3a;
‘reporting agents’ shall mean the legal and natural persons and the entities and branches referred to in Article 2(3) which are subject to the ECB’s statistical reporting requirements;
‘participating Member State’ shall mean a Member State which has adopted the single currency in accordance with the Treaty;
‘resident’ and ‘residing’ shall mean having a centre of predominant economic interest on the economic territory of a country as described in Chapter 1, paragraphs 1.61 and 2.07, of Annex A to Regulation (EU) No 549/2013 of the European Parliament and of the Council (1) establishing the European system of national and regional accounts 2010 (hereinafter referred to as ‘ESA 2010’); in this context, ‘cross-border positions’ and ‘cross-border transactions’ shall mean, respectively, positions and transactions in the assets and/or liabilities of residents of participating Member States seen as one economic territory vis-à-vis residents of non-participating Member States and/or residents of third countries;
‘international investment position’ shall mean the balance sheet of the stock of cross-border financial assets and liabilities;
‘electronic money’ shall mean electronically, including magnetically, stored monetary value as represented by a claim on the issuer which is issued on the receipt of funds for the purpose of making payment transactions and which is accepted by other natural or legal persons than the issuer;
‘use for statistical purposes’ shall mean the exclusive use for the development and production of statistical results and statistical analyses;
‘development’ shall mean activities aiming at setting up, strengthening and improving the statistical methods, standards and procedures used for the production and dissemination of statistics as well as at designing new statistics and indicators;
‘production’ shall mean all the activities related to the collection, storage, processing and analysis necessary for compiling statistics;
‘dissemination’ shall mean the activity of making statistics, statistical analyses and non-confidential information accessible to users;
‘statistical information’ shall mean aggregated and individual data, indicators and related metadata;
‘confidential statistical information’ shall mean statistical information which allows reporting agents or any other legal or natural person, entity or branch to be identified, either directly from their name or address or from an officially allocated identification code, or indirectly through deduction, thereby disclosing individual information. To determine whether a reporting agent or any other legal or natural person, entity or branch is identifiable, account shall be taken of all the means that might reasonably be used by a third party to identify the said reporting agent or the other legal or natural person, entity or branch;
‘sharing’ in relation to information shall mean making information available to, or permitting its use by, another party on the basis of and for the purposes permitted by the law which is applicable to or which is applied by the party sharing or receiving the information;
‘other legitimate party’ shall mean: the European Systemic Risk Board (ESRB), established by Regulation (EU) No 1092/2010 of the European Parliament and of the Council (2); the competent authority of a participating Member State of the Single Supervisory Mechanism as defined in Article 2, point (9), of Council Regulation (EU) No 1024/2013 (3); a European Supervisory Authority, established by Regulation (EU) No 1093/2010 of the European Parliament and of the Council (4), Regulation (EU) No 1094/2010 of the European Parliament and of the Council (5) or Regulation (EU) No 1095/2010 of the European Parliament and of the Council (6), and the respective competent authority as defined in those Regulations; or the Single Resolution Board, established by Regulation (EU) No 806/2014 of the European Parliament and of the Council (7), and the national resolution authority as defined in that Regulation;
‘core reference data’ shall mean the following identification and classification attributes for legal persons, branches or institutional units, where applicable: name of the legal person, branch or institutional unit, status, registration or foundation date, address, legal form, registration and other identification numbers, Member State where the legal person, branch or institutional unit is registered or resident, activity or activities that are the objects of the legal person, branch or institutional unit, such as the NACE code or a national classification derived therefrom in accordance with the statistical classification of economic activities in the Union (NACE) set out in Regulation (EC) No 1893/2006 of the European Parliament and of the Council (8), and the ESA 2010 sector classification.
Article 2
Reference reporting population
For the purposes of this Regulation, the reference reporting population shall comprise the following reporting agents:
(a) legal and natural persons residing in a Member State and falling within the sector ‘financial corporations (S.12)’ as defined in ESA 2010;
(b) post office giro institutions residing in a Member State;
(c) legal and natural persons residing in a Member State, to the extent that they hold cross-border positions or have carried out cross-border transactions;
(d) legal and natural persons residing in a Member State, to the extent that they have issued securities or electronic money;
(e) legal and natural persons residing in a participating Member State, to the extent that they hold financial positions vis-à-vis residents of other participating Member States or have carried out financial transactions with residents of other participating Member States;
(f) financial institutions and undertakings defined in Article 4(1), points (1) to (7), of Regulation (EU) No 575/2013 of the European Parliament and of the Council (9), residing in a participating Member State and not falling within the sector ‘financial corporations (S.12)’ as defined in ESA 2010.
Where a legal person, collection of natural persons or an entity as referred to in the first subparagraph has a branch resident in another country, the branch shall be a reporting agent in its own right irrespective of where the head office is located insofar as the branch satisfies the conditions defined in paragraph 2, with the exception of the need to possess separate legal personality. Any number of branches set up in the same Member State shall be regarded as a single branch when they belong to the same sub-sector of the economy. The reporting obligation of a branch shall be fulfilled by the persons legally representing it.
The ECB shall have the right to collect statistical information from a reporting agent which falls within the scope of the reference reporting population as specified in paragraph 2 or 3 on:
(a) legal persons, collections of natural persons, or entities which are controlled by the reporting agents (hereinafter referred to as ‘controlled entities’); or
(b) any of the reporting agent’s branches, regardless of where they are located.
The ECB shall specify the manner in which the information referred to in the first subparagraph is to be reported, including the consolidation and the netting principles to be applied.
For the purposes of points (a) and (b), the controlled entities or branches shall not be reporting agents in their own right.
Article 2a
Cooperation with the ESS
To minimise the reporting burden and guarantee the coherence necessary to produce European statistics, the ESCB and the ESS shall cooperate closely, while complying with the statistical principles laid down in Article 3a.
Article 3
Modalities for the definition of statistical reporting requirements
In laying down and imposing its statistical reporting requirements, the ECB shall specify the actual reporting population within the limits of the reference reporting population as defined in Article 2. Without prejudice to the fulfilment of its statistical reporting requirements, the ECB:
(a) shall use existing statistics as far as possible;
(b) shall take into account the relevant European and international statistical standards;
(c) may fully or partly exempt specific classes of reporting agents from its statistical reporting requirements; and
(d) may take into account the potential use of the statistical information for the performance of tasks concerning policies relating to the prudential supervision of credit institutions, without prejudice to the competence in this field of the European Banking Authority established by Regulation (EU) No 1093/2010.
Before adopting a regulation as referred to in Article 5 concerning new statistics, the ECB shall assess the merits and costs of the collection of the new statistical information in question. The ECB shall take into account, in particular, the specific collection characteristics, the size of the reporting population, the periodicity of the reporting, and the information already held by the statistical authorities and administrations, by other Union institutions, bodies, offices or agencies or by the competent authorities of the Member States to which the ESCB members have a right of access.
Article 3a
Statistical principles underlying European statistics produced by the ESCB
The development, production and dissemination of European statistics by the ESCB shall be governed by the principles of impartiality, objectivity, professional independence, cost-effectiveness, statistical confidentiality, minimisation of the reporting burden and high output quality, including reliability and the definitions of these principles shall be adopted, elaborated on and published by the ECB. These principles are similar to the statistical principles of Regulation (EC) No 223/2009 of the European Parliament and of the Council of 11 March 2009 on European statistics (10).
Article 4
Obligations of Member States
Member States shall organise themselves in the field of statistics and shall fully cooperate with the ESCB in order to ensure the fulfilment of the obligations arising out of Article 5 of the Statute.
Article 5
Regulatory power of the ECB
Article 6
Right of verification and compulsory collection of statistical information
If a reporting agent residing in a participating Member State is suspected of an infringement, as set out in Article 7(2), of the ECB’s statistical reporting requirements, the ECB and, in accordance with Article 5.2 of the Statute, the national central bank of the participating Member State concerned shall have the right to verify the accuracy and quality of the statistical information and to carry out its compulsory collection. However, should the statistical information concerned be necessary in order to demonstrate compliance with minimum reserve requirements, the verification should be carried out in accordance with Article 6 of Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank (11). The right to verify statistical information or to carry out compulsory collection thereof shall comprise the right to:
(a) require submission of documents;
(b) examine the books and records of the reporting agents;
(c) take copies or extracts from such books and records; and
(d) obtain written or oral explanations.
Article 7
Imposition of sanctions
The obligation to report statistical information to the ECB or to the national central banks shall be deemed to have been infringed if:
(a) no statistical information is received by the ECB or national central bank by the established deadline;
(b) the statistical information is incorrect, incomplete or in a form not complying with the requirements; or
(c) the statistical information does not fulfil minimum standards as specified in regulations or decisions of the ECB, in respect of statistical reporting requirements other than the requirements laid down in point (a) or (b).
The ECB may impose sanctions on a reporting agent as follows:
(a) in the event of an infringement under paragraph 2, point (a), a daily penalty payment not exceeding EUR 30 000 , with the total amount not exceeding EUR 500 000 ;
(b) in the event of an infringement under paragraph 2, point (b) or (c), and under paragraph 3, a fine not exceeding EUR 500 000 .
Article 7a
Sharing of non-confidential data from the ESCB to the ESS
Without prejudice to Article 2a, an ESCB member shall share non-confidential data, including data made available by private data holders, with the ESS upon request, if the requested data are necessary and available in aggregate form, in areas of shared responsibility or common interest and are needed for carrying out the tasks of the requesting ESS authority.
Article 8
Protection, use and sharing of confidential statistical information collected by the ESCB
In addition to the obligation laid down in paragraph 2, the ESCB members:
(a) may use confidential statistical information for the performance of their tasks relating to prudential supervision;
(b) shall share confidential statistical information with other legitimate parties for the performance of their respective tasks relating to supervision or the stability and effectiveness of the financial system; including market integrity and investor protection.
(c) may share confidential statistical information with the European Stability Mechanism (ESM) and with authorities or bodies of the Union or of the Member States which are not other legitimate parties, as follows: (i) with the ESM and with authorities or bodies responsible for the supervision of financial institutions, markets and infrastructures or for the stability of the financial system in accordance with Union or national law, to the extent and at the level of detail necessary to perform their respective statutory tasks; (ii) with authorities or bodies with a legal right or entitlement to collect such confidential statistical information to perform their respective statutory tasks, to the extent and at the level of detail necessary to avoid that such information is collected twice from the same reporting agent;
(d) shall share confidential statistical information with ESS authorities in accordance with Article 8a(1) and (2);
(e) may grant access to researchers affiliated with scientific research bodies to confidential statistical information which does not allow a reporting agent, or other legal or natural person, entity or branch to be directly identified;
(f) where they are national central banks, may use and share confidential statistical information for the performance of national central banks’ functions other than those specified in the Statute, in accordance with Article 14.4 of the Statute;
(g) may use or share confidential statistical information for other purposes, if the reporting agent or other legal or natural person, entity or branch which can be identified has explicitly given its consent for such use or sharing.
In the circumstances set out in paragraph 3, points (a) to (f), confidential statistical information shall not be used or shared for commercial or tax purposes or for the purpose of legal proceedings, with the exception of:
(a) proceedings concerning the failure to fulfil an obligation arising from ECB regulations or decisions, including those laying down and imposing statistical reporting requirements; or
(b) where confidential statistical information collected by a national central bank is used or shared for such purposes in order to perform functions other than those specified in the Statute, in accordance with Article 14.4 of the Statute.
The ESCB members may share confidential statistical information with a reporting agent in the following circumstances:
(a) where the confidential statistical information is exclusively core reference data and those core reference data are used by the reporting agent to identify and classify: (i) the reporting agent; (ii) the reporting agent’s affiliated legal persons, entities or branches; or (iii) the counterparties to transactions with the reporting agent;
(b) where the confidential statistical information is taken from sources which are available to the reporting agent, provided that the sharing of that information is necessary for the efficient development, production or dissemination of statistics or for increasing their quality, or for the performance of the tasks of the ESCB or tasks concerning policies relating to the prudential supervision of credit institutions.
The core reference data referred to in point (a) may be shared with a reporting agent provided that the sharing of that data is necessary for the efficient development, production or dissemination of European statistics or for increasing their quality.
Any party receiving confidential statistical information:
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