Regulation (EU) 2018/318 of the European Central Bank of 22 February 2018 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2018/7)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Treaty on the Functioning of the European Union,

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,

Whereas:

(1) The purpose of the data collected under Regulation (EU) No 1011/2012 of the European Central Bank (ECB/2012/24) (2) is to provide the European System of Central Banks (ESCB) with comprehensive statistical information on the exposure of economic sectors and group data reporting agents in the Member States whose currency is the euro to specific classes of securities at a very disaggregated level. This information facilitates the in-depth analysis of the monetary policy transmission mechanism and the evaluation of the Eurosystem's risk exposures in its monetary policy operations. It also allows for in-depth analysis of financial stability, including the identification and monitoring of risks to it.

(2) Within the framework of Council Regulation (EU) No 1024/2013 (3), Regulation (EU) No 806/2014 of the European Parliament and of the Council (4) and of Council Regulation (EU) No 1096/2010 (5), the data obtained are also used for prudential supervision and resolution purposes and are provided to the European Systemic Risk Board.

(3) The concept of group data reporting agents has been introduced and defined in Regulation (EU) No 1011/2012 (ECB/2012/24) by Regulation (EU) 2016/1384 of the European Central Bank (ECB/2016/22) (6). The Governing Council of the European Central Bank (ECB) will identify group data reporting agents for the purpose of the data collection under Regulation (EU) No 1011/2012 (ECB/2012/24) taking into account several criteria, including the relevance of the group data reporting agent for the stability and functioning of the financial system in the euro area and/or individual Member States. It needs to be specified for greater legal clarity that all significant supervised entities that are directly supervised by the ECB in accordance with Council Regulation (EU) No 1024/2013, are to be regarded as being of relevance for the stability and functioning of the financial system, and consequently they can also be identified as group data reporting agents.

(4) Subject to the decision of the relevant national central bank (NCB), after the entry into force of Regulation (EU) 2016/1384 group data reporting agents can report data reported pursuant to Article 3a of Regulation (EU) No 1011/2012 (ECB/2012/24) (hereinafter ‘group data’) directly to the ECB. This will allow a more efficient use of the available information technology infrastructure of the ESCB Securities Holdings Statistics Database and avoid the need to set up separate national data processing systems at each NCB.

(5) If an NCB decides not to collect group data, it should inform the ECB, in which case the ECB should take over the task of collecting the data directly from the group data reporting agents. The ECB and the NCB concerned should make the necessary arrangements between them.

(6) 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:

(4) Article 4b is replaced by the following: ‘Article 4b General derogations and framework applicable to all derogations (*1)  Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector (ECB/2013/33) (OJ L 297, 7.11.2013, p. 1).’;"

(5) Article 6a is replaced by the following: ‘Article 6a Timeliness of group data

(6) Article 7a is replaced by the following: ‘Article 7a Mergers, divisions and reorganisations In the event of a merger, division or reorganisation that might affect the fulfilment of statistical obligations, the reporting agents concerned shall inform the relevant NCB, or, where group data is reported to the ECB pursuant to Article 3a(5), the ECB, directly or via the relevant NCA in accordance with the cooperation arrangements, once the intention to implement such operation has become public and in due time before it takes effect, of the procedures that are planned in order to fulfil the statistical reporting requirements set out in this Regulation.’;

(7) the following Article 10c is inserted: ‘Article 10c First reporting following the entry into force of Regulation (EU) 2018/318 of the European Central Bank (ECB/2018/7) The first reporting of group data pursuant to Article 3a following the entry into force of Regulation (EU) 2018/318 of the European Central Bank (ECB/2018/7)(2) shall start with data for the reference period September 2018. (2)  Regulation (EU) 2018/318 of the European Central Bank of 22 February 2018 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2018/7) (OJ L 62, 5.3.2018, p. 4).’;"

(8) Annexes I, II and III are amended in accordance with the Annex to this Regulation.

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, 22 February 2018.

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).

(3) Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (OJ L 287, 29.10.2013, p. 63).

(4) Regulation (EU) No 806/2014 of the European Parliament and of the Council of 15 July 2014 establishing uniform rules and a uniform procedure for the resolution of credit institutions and certain investment firms in the framework of a Single Resolution Mechanism and a Single Resolution Fund and amending Regulation (EU) No 1093/2010 (OJ L 225, 30.7.2014, p. 1).

(5) Council Regulation (EU) No 1096/2010 of 17 November 2010 conferring specific tasks upon the European Central Bank concerning the functioning of the European Systemic Risk Board (OJ L 331, 15.12.2010, p. 162).

(6) 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).