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Document 02022O0747-20220516
Guideline (EU) 2022/747 of the European Central Bank of 5 May 2022 amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2022/23)
Consolidated text: Guideline (EU) 2022/747 of the European Central Bank of 5 May 2022 amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2022/23)
Guideline (EU) 2022/747 of the European Central Bank of 5 May 2022 amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2022/23)
02022O0747 — EN — 16.05.2022 — 000.001
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GUIDELINE (EU) 2022/747 OF THE EUROPEAN CENTRAL BANK of 5 May 2022 (OJ L 137 16.5.2022, p. 177) |
Corrected by:
GUIDELINE (EU) 2022/747 OF THE EUROPEAN CENTRAL BANK
of 5 May 2022
amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2022/23)
Article 1
Amendments
Guideline 2012/120/EU (ECB/2011/23) is amended as follows:
in Article 1, the following point (18) is added:
“special purpose entity” or “SPE” means a formally registered and/or incorporated legal entity which:
is recognised as an institutional unit;
employs no, or no more than five, employees;
has no or minimal physical presence;
has no or minimal physical production in the economy where it is resident (“host jurisdiction”);
is directly or indirectly controlled by non-residents of the host jurisdiction;
has been established to obtain specific advantages provided by the host jurisdiction with one or more of the following objectives: (i) to grant its owner(s) access to capital markets or sophisticated financial services; (ii) to isolate owner(s) from financial risks; (iii) to reduce regulatory and tax burden; (iv) to safeguard confidentiality of their transactions and owner(s);
transacts almost entirely with non-residents of the host jurisdiction;
has a financial balance sheet of which a large part consists of cross-border claims and liabilities, except in the case of entities issuing marketable debt securities where this information may not be available.’;
in Article 2, the following paragraph 1b is inserted:
in Article 6(3), the introductory wording is replaced by the following:
‘Where the data for an item in Tables 1 to 5 and 10 of Annex II are of negligible or of insignificant size for euro area and national statistics, or the data for that item cannot be collected at reasonable cost, NCBs shall report data on a best estimate basis based on sound statistical methodologies; provided that the analytical value of the statistics is not compromised. In addition, NCBs shall report data on a best estimate basis for the following breakdowns in Tables 1, 2, 4, 6 and 10 of Annex II:’;
the following Article 8a is inserted:
‘Article 8a
First transmission of data relating to cross-border transactions and stocks of resident SPEs following the taking effect of Guideline (EU) 2022/747 (ECB/2022/23)
Following the taking effect of Guideline (EU) 2022/747 of the European Central Bank (ECB/2022/23) ( *1 ), the first transmission of data relating to cross-border transactions and stocks of resident SPEs set out in Annex II, Table 10, shall take place in March 2023 in respect of data for the fourth quarter of 2022.
Quarterly data in respect of the period from the first quarter of 2020 shall be transmitted no later than September 2023.
Annexes I and II are amended in accordance with the Annex to this Guideline.
Article 2
Taking effect
This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.
Article 3
Addressees
This Guideline is addressed to all Eurosystem central banks.
ANNEX
Annexes I and II to Guideline 2012/120/EU (ECB/2011/23) are amended as follows:
in Annex I, the following Section 6 is added:
‘6. Quarterly cross-border transactions and stocks of resident SPEs
The objective of quarterly cross-border transactions and stocks of resident SPEs is to better understand the role of these type of units in the different components of external sector accounts. Information related to this type of unit can be reported as a separate item to permit a better understanding of their role in the economic and financial system of the euro area.
The NCBs must report information on the quarterly cross-border transactions and stocks of resident SPEs as specified in Annex II, Table 10.’;
Annex II is amended as follows:
Table 8 is replaced by the following:
‘Table 8
Sector breakdowns
|
Sec 1 |
Sec 2 |
Sec 2d |
Sec 2r |
Sec x |
|
Total economy Central bank Other MFIs Deposit-taking corporations except the central bank MMFs General government Other sectors |
Total economy Central bank Other MFIs Deposit-taking corporations except the central bank MMFs General government Other sectors Non-MMF investment funds Insurance corporations and pension funds Other financial institutions Non-financial corporations Households and NPISHs |
Total economy Central bank Other MFIs General government Other sectors Of which: Non-MMF investment funds Insurance corporations and pension funds Other financial institutions Non-financial corporations |
Total economy Central bank Other MFIs General government Other sectors |
Total economy Financial corporations Other sectors than financial corporations’ |
the following Table 10 is added:
‘Table 10
Quarterly cross-border transactions and stocks of resident SPEs
|
|
|
Publishable Subset |
||||||||||
|
QBOP |
QIIP |
QBOP |
QIIP |
|||||||||
|
C/A |
D/L |
B/N |
C/A |
D/L |
B/N |
C/A |
D/L |
B/N |
C/A |
D/L |
B/N |
|
|
Current account |
G2_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Goods |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Net exports of goods under merchanting |
G1_I8 |
|
|
|
|
|
G1_I8 |
|
|
|
|
|
|
Services |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Transport |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Financial services |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Charges for the use of intellectual property n.i.e. |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Other business services |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Primary income |
G2_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Investment income (sec x) |
G2_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Direct investment (sec x) |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Dividends and withdrawals (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
In direct investment enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
In direct investor (reverse investment) (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Between fellow enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Reinvested earnings (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Debt instruments (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
In direct investment enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
In direct investor (reverse investment) (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Between fellow enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Portfolio investment (sec x) |
G2_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Dividends (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Reinvested earnings (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Debt securities interest (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Other investment (sec x) |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
o.w. Interest (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Secondary income |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Capital account |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
ow. Gross acquisitions/disposals of non-produced non-financial assets |
G2_I8 |
G2_I8 |
|
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
Financial account (sec x) |
G2_I8 |
G1_I8 |
|
G2_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Direct investment (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Equity and Investment Funds shares/units (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
In direct investment enterprises (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
In direct investor (reverse investment) (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
Between fellow enterprises (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is resident (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is nonresident (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is unknown (sec x) |
|
|
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
Equity other than reinvestment of earnings (sec x) |
G2_I8 |
G2_I8 |
|
|
|
|
|
|
|
|
|
|
|
In direct investment enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
In direct investor (reverse investment) (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Between fellow enterprises (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
if ultimate controlling parent is resident (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
if ultimate controlling parent is nonresident (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
if ultimate controlling parent is unknown (sec x) |
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
|
|
|
Reinvestment of earnings (sec x) |
G2_I8 |
G2_I8 |
|
|
|
|
|
|
|
|
|
|
|
Debt instruments (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
In direct investment enterprises (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
|
|
|
|
|
|
|
In direct investor (reverse investment) (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
|
|
|
|
|
|
|
Between fellow enterprises (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is resident (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is nonresident (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
if ultimate controlling parent is unknown (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
Portfolio investment (sec x) |
G2_I8 |
G1_I8 |
|
G2_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Equity and investment fund shares (sec x) |
G2_I8 |
G1_I8 |
|
G2_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Debt securities (sec x) |
G2_I8 |
G1_I8 |
|
G2_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Short-term (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Long-term (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
Financial derivatives (other than reserves) and employee stock options (sec x) |
|
|
G1_I8 |
G2_I8 |
G2_I8 |
G2_I8 |
|
|
G1_I8 |
|
|
G2_I8 |
|
Other investment (sec x) |
G2_I8 |
G2_I8 |
|
G2_I8 |
G2_I8 |
|
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
o.w. Short-term (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8 |
|
|
|
|
|
|
|
|
o.w. Long-term (sec x) |
G1_I8 |
G1_I8 |
|
G1_I8 |
G1_I8’ |
|
|
|
|
|
|
|
( *1 ) Guideline (EU) 2022/747 of the European Central Bank of 5 May 2022 amending Guideline 2012/120/EU on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2011/23) (ECB/2022/23) (OJ L 137, 16.5.2022, p. 177).’;