Regulation (EU) 2016/1384 of the European Central Bank of 2 August 2016 amending Regulation (EU) No 1011/2012 (ECB/2012/24) concerning statistics on holdings of securities (ECB/2016/22)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5 thereof,

Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (1), and in particular Articles 5(1) and 6(4) thereof,

After consulting the European Commission,

Whereas:

(1) Additional attributes of statistics on holdings of securities, which go beyond those currently required under Regulation (EU) No 1011/2012 of the European Central Bank (ECB/2012/24) (2), are necessary in order to ensure that the European System of Central Banks (ESCB) is provided with adequate information on the holdings of securities of banking groups. These additional attributes will allow a more thorough analysis of risks and exposures within the financial system to be carried out. This, in turn, will allow for a more in-depth analysis of the monetary policy transmission mechanism. Extending the scope of the credit risk and accounting information reported is particularly important in terms of financial stability analysis and such data will also be useful for prudential supervision purposes. It is also needed in order to be able to assess the Eurosystem's risk exposure in relation to counterparties in monetary policy operations. The structure of certain provisions of the Regulation should also be amended in order to clarify reporting agents' statistical reporting requirements for both sectoral and group data.

(2) Furthermore, the reporting requirements for custodians should be clarified to avoid double reporting of securities that could be reported by several custodians resident in the euro area, for example in the case of sub-custodians.

(3) Therefore, Regulation (EU) No 1011/2012 (ECB/2012/24) should be amended accordingly,

HAS ADOPTED THIS REGULATION:

Article 1

Amendments

Regulation (EU) No 1011/2012 (ECB/2012/24) is amended as follows:

‘Article 3a Statistical reporting requirements for group data reporting agents

Article 3b

General statistical reporting requirements (3)  Regulation (EU) No 1073/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (OJ L 297, 7.11.2013, p. 73)." (4)  Regulation (EU) No 1075/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2013/40) (OJ L 297, 7.11.2013, p. 107).’;"

‘Article 5a Accounting rules for the reporting of group data

Article 5b

General accounting rules (*6)  Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions (OJ L 372, 31.12.1986, p. 1).’;"

‘Article 6a Timeliness of group data NCBs shall transmit to the ECB quarterly security-by security group data in accordance with Article 3a(1) and Chapter 2 of Annex I by 18.00 CET on the 55th calendar day following the end of the quarter to which the data relate.

Article 6b

General timeliness

‘Article 10b First reporting following the entry into force of Regulation (EU) 2016/1384 of the European Central Bank (ECB/2016/22)(7) (7)  Regulation (EU) 2016/1384 of the European Central Bank of 2 August 2016 amending Regulation (EU) No 1011/2012 (ECB/2012/24) concerning statistics on holdings of securities (ECB/2016/22) (OJ L 222, 17.8.2016, p. 24).’;"

Article 2

Final provision

This Regulation shall enter into force on 1 October 2018.

This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.

Done at Frankfurt am Main, 2 August 2016.

For the Governing Council of the ECB The President of the ECB Mario DRAGHI

(1) OJ L 318, 27.11.1998, p. 8.

(2) Regulation (EU) No 1011/2012 of the European Central Bank of 17 October 2012 concerning statistics on holdings of securities (ECB/2012/24) (OJ L 305, 1.11.2012, p. 6).