LegalizeCommission Regulation (EU) No 555/2012 of 22 June 2012 amending Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment, as regards the update of data requirements and definitions
COMMISSION REGULATION (EU) No 555/2012
of 22 June 2012
amending Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment, as regards the update of data requirements and definitions
THE EUROPEAN COMMISSION,
Having regard to the Treaty on the Functioning of the European Union,
Having regard to Regulation (EC) No 184/2005 of the European Parliament and of the Council on Community statistics concerning balance of payments, international trade in services and foreign direct investment (1), and in particular Article 10 thereof,
(1) Regulation (EC) No 184/2005 establishes a common framework for the systematic production of Union statistics on balance of payments, international trade in services and foreign direct investment.
(2) It is necessary to update the data requirements and definitions of Regulation (EC) No 184/2005 taking into account economic and technical changes, bringing them in line with international standards which provide the general rules for compiling statistics on balance of payments, international trade in services, and foreign direct investment.
(3) The measures provided for in this Regulation are in accordance with the opinion of the Balance of Payments Committee.
HAS ADOPTED THIS REGULATION:
Article 1
The Annexes to Regulation (EC) No 184/2005 are replaced by the text in the Annex to this Regulation.
Article 2
This Regulation shall enter into force on the 20th day following that of its publication in the Official Journal of the European Union.
It shall apply from 1 January 2014.
This Regulation shall be binding in its entirety and directly applicable in all Member States.
ANNEX
‘ANNEX I
| Credit | Debit | Balance | |
|---|---|---|---|
| 1. Current account | |||
| Goods | Geo 3 | Geo 3 | |
| Services | Geo 3 | Geo 3 | |
| Primary income | |||
| Compensation of employees | Geo 3 | Geo 3 | |
| Investment income | |||
| Direct investment | |||
| Equity | Geo 3 | Geo 3 | |
| Of which: Reinvested earnings by resident sector (Sec 1) | Geo 2 (1) | Geo 2 (1) | |
| Debt instruments | Geo 3 | Geo 3 | |
| Portfolio investment | |||
| Equity and investment fund shares | Geo 3 | Geo 1 | |
| Debt securities | Geo 3 | Geo 1 | |
| Other investment | Geo 3 | Geo 3 | |
| Of which: Interest | Geo 2 (1) | Geo 2 (1) | |
| Reserve assets | Geo 3 | Geo 3 | |
| Of which: Interest | Geo 2 (1) | Geo 2 (1) | |
| Other primary income | Geo 3 | Geo 3 | |
| Secondary income | Geo 3 | Geo 3 | |
| 2. Capital account | |||
| Capital account | Geo 3 | Geo 3 | |
| Net acquisition of financial assets | Net incurrence of liabilities | Net | |
| 3. Financial account | |||
| Direct investment | |||
| Equity by resident sector (Sec 1) | Geo 2 (1) | Geo 2 (1) | |
| Debt instruments by resident sector (Sec 1) | Geo 2 (1) | Geo 2 (1) | |
| Portfolio investment | |||
| Equity and investment fund shares | |||
| By resident sector (Sec 1) | Geo 2 (1) | Geo 1 (1) | |
| By counterpart issuer sector (Sec 1) | Geo 2 (1) | ||
| Debt securities | |||
| Short-term | |||
| By resident sector (Sec 1) | Geo 2 (1) | Geo 1 (1) | |
| By counterpart issuer sector (Sec 1) | Geo 2 (1) | ||
| Long-term | |||
| By resident sector (Sec 1) | Geo 2 (1) | Geo 1 (1) | |
| By counterpart issuer sector (Sec 1) | Geo 2 (1) | ||
| Financial derivatives (other than reserves) and employee stock options | Geo 2 (1) | ||
| Other investment | |||
| By resident sector (Sec 1) | Geo 2 (1) | Geo 2 (1) | |
| Of which: Currency and deposits | Geo 2 (1) | Geo 2 (1) | |
| Reserve assets | |||
| Monetary gold | |||
| Gold bullion | Geo 1 (1) | ||
| Unallocated gold accounts | Geo 1 (1) | ||
| Special drawing rights (SDRs) | Geo 1 (1) | ||
| Reserve position in the International Monetary Fund (IMF) | Geo 1 (1) | ||
| Other reserve assets | |||
| Currency and deposits | |||
| Claims on monetary authorities, the IMF and the Bank for International Settlements (BIS) | Geo 1 (1) | ||
| Claims on other entities (banks) | Geo 1 (1) | ||
| Securities | |||
| Debt securities | |||
| Short-term | Geo 1 (1) | ||
| Long-term | Geo 1 (1) | ||
| Equity and investment fund shares | Geo 1 (1) | ||
| Financial derivatives (net) | Geo 1 (1) | ||
| Other claims | Geo 1 (1) | ||
| (1)Not mandatory for Member States not participating in the Monetary Union. |
Table 2
Quarterly Balance of payments and International Investment Position
Periodicity : Quarterly
First reference period : First Quarter 2014
Deadline : T+85 from 2014 to 2016; T+82 from 2017 to 2018 (1) ; T+80 from 2019 (1)
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