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Document 32025O0333
Guideline (EU) 2025/333 of the European Central Bank of 31 January 2025 on statistical information to be reported on household wealth, income and consumption (ECB/2025/3)
Guideline (EU) 2025/333 of the European Central Bank of 31 January 2025 on statistical information to be reported on household wealth, income and consumption (ECB/2025/3)
Guideline (EU) 2025/333 of the European Central Bank of 31 January 2025 on statistical information to be reported on household wealth, income and consumption (ECB/2025/3)
ECB/2025/3
OJ L, 2025/333, 27.2.2025, ELI: http://data.europa.eu/eli/guideline/2025/333/oj (BG, ES, CS, DA, DE, ET, EL, EN, FR, GA, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
In force
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Official Journal |
EN L series |
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2025/333 |
27.2.2025 |
GUIDELINE (EU) 2025/333 OF THE EUROPEAN CENTRAL BANK
of 31 January 2025
on statistical information to be reported on household wealth, income and consumption (ECB/2025/3)
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 5.1 thereof,
Whereas:
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(1) |
Household-level information on the main components of wealth, income and consumption is highly valuable to understand trends in the economic and financial situation of different groups of citizens resident in the euro area. This information is necessary to analyse the effects of monetary policy measures across different households, which represents a key component of the proportionality assessment for the conduct of monetary policy, conducted in line with Article 127(2) of the Treaty on the Functioning of the European Union. Household-level information is also necessary for the European System of Central Banks’ (ESCB’s) contribution to the smooth conduct of policies pursued by the competent authorities relating to the stability of the financial system in line with Article 127(5) of the Treaty on the Functioning of the European Union. |
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(2) |
Household-level information on net wealth (assets and liabilities), collected in a comparable manner across euro-area countries, is currently available only through the Household Finance and Consumption Survey (HFCS). The HFCS is conducted in each Member State by national central banks (NCBs) or by other competent authorities on the basis of national laws which allow for the collection of household-level information by survey from natural persons. Given the necessity of such information to undertake the tasks of the ESCB, the collection of statistical information on household wealth, income and consumption by the ECB from the NCBs should be regulated by a Guideline adopted on the basis of Article 12.1 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’). This should not prevent the relevant statistical information collected for purposes other than, or in addition to, meeting the ECB’s statistical reporting requirements from being used to serve those other purposes. |
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(3) |
The Guideline aims to contribute to the harmonisation of the rules and practices governing the collection, compilation and distribution of the statistics produced from information collected by the HFCS in accordance with Article 5.3 of the Statute of the ESCB. This ensures that the statistical information reported by the NCBs to the ECB has the coherence required to produce statistics that are representative of the Member States in the euro area. For this reason, NCBs should be required to report a core set of economic, financial and demographic output variables needed to compile statistical information on household wealth, income and consumption, together with information describing the features of the country surveys undertaken in the respective Member State. In order to reflect differences in the collections across euro-area countries without increasing the reporting burden on NCBs, NCBs may report a non-core set of economic, financial and demographic output variables to the ECB. This information is necessary as it enhances the economic, financial and statistical analyses of the ECB which are used to undertake ESCB tasks, in particular, relating to monetary policy. |
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(4) |
In order to assess the impact of geopolitical and other significant unforeseen developments on the economic or financial situation of groups of citizens resident in the euro area, such as a crisis in the provision of energy or the outbreak of a pandemic, which may affect the conduct of monetary policy or the stability of the financial system, it is necessary to further determine the arrangements for the reporting of related statistical information collected by NCBs to the ECB. This ensures such information is also subject to the same protection as the core and non-core sets of economic, financial and demographic output variables collected by the ECB and NCBs under this Guideline. |
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(5) |
Statistical information necessary to meet the ECB’s requirements in the field of household wealth, income and consumption may be collected or compiled by competent authorities other than NCBs. Therefore, in some Member States, some of the tasks to be undertaken under this Guideline require cooperation between the ECB or the NCBs and those competent authorities. Articles 2a and 4 of Council Regulation (EC) No 2533/98 (1) require that Member States organise themselves in the field of statistics and cooperate fully with the ESCB and with the European Statistical System (ESS) to fulfill the obligations of Article 5 of the Statute of the ESCB. Such cooperation is also necessary between NCBs and national competent authorities or other bodies in relation to the processing of personal data, including for the purpose of setting up the arrangements for the controllership of the personal data among these authorities or bodies at national level. |
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(6) |
In order for the ECB to perform its tasks, it is appropriate that NCBs report the required statistical information by specified dates. |
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(7) |
In order to ensure the accuracy and quality of the statistical information collected by the ECB, it is necessary for the ECB to provide for rules on the monitoring, verification and, where appropriate, the revision of statistical information reported by NCBs. For the same reasons, NCBs should provide explanations to the ECB, whenever necessary and upon request by the ECB, on the statistical information reported, particularly with regard to the NCB’s interpretation of aspects of the output variables which are based on national specificities or structural breaks in detail which may impact that statistical information or its quality. |
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(8) |
Article 5 of the Statute of the ESCB, together with Article 4(3) of the Treaty on European Union, implies that non-euro area Member States which plan to adopt the euro should design and implement measures for the collection of the statistical information required to fulfil the ECB’s statistical reporting requirements in preparation for such adoption of the euro. For the purposes of enabling the ECB to obtain a comprehensive overview of the statistical information collected and to carry out relevant analysis, NCBs of non-euro area Member States that adopt the euro should be required to provide the ECB with statistical information covering a specified period prior to their adoption of the euro. |
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(9) |
It is appropriate to provide for a common method of transmission of statistical information reported to the ECB for all NCBs. Accordingly, a harmonised electronic transmission format should be agreed and specified by the ESCB. |
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(10) |
This Guideline aims to ensure that NCBs are responsible for the processing of personal data collected in connection with the HFCS in their respective Member State. Any such processing of personal data should comply with the relevant Union legislation on personal data protection, namely Regulation (EU) 2018/1725 of the European Parliament and of the Council (2) and Regulation (EU) 2016/679 of the European Parliament and of the Council (3). Such processing is lawful as it is necessary for the performance of the tasks of the ESCB carried out in the public interest and for compliance with the legal obligations to which each NCB, as controller of the data that it has collected in its country survey, or by other means, as relevant in its Member State, is subject under this Guideline. In accordance with the data minimisation principle set out in those Regulations, statistical information to be reported by the NCBs to the ECB in line with Regulation (EU) 2018/1725 and in connection with the HFCS should be aggregated or anonymised by the NCBs to such a degree that individuals cannot be directly or indirectly identified. |
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(11) |
Where statistical information to be reported to the ECB pursuant to this Guideline is aggregated or anonymised by the NCBs to ensure that natural persons may not be identified, either directly or indirectly through deduction, such information does not fall within the definition of ‘confidential statistical information’ in Regulation (EC) No 2533/98. In addition, the statistical information that must be reported to the ECB in accordance with this Guideline should not allow any other legal persons, entities or branches to be directly or indirectly identified. |
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(12) |
The statistical information collected by the ECB should be used exclusively for statistical purposes and to grant access to and/or disseminate statistics and statistical analyses to users. Given that the ECB intends to share a subset of the statistical information it collects with scientific research bodies, it is also necessary to set up the appropriate arrangements for such access to be granted. |
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(13) |
It is necessary to set up a procedure to carry out technical amendments to the Annexes to this Guideline in an effective manner, provided that such amendments neither change the underlying conceptual framework of the Guideline nor affect the reporting burden of the NCBs. Accordingly, the Executive Board of the ECB should be able to make such technical amendments and account should be taken of the views of the Statistics Committee of the ESCB when following this procedure. It is the practice of the Statistics Committee to take into account the views of the users, specifically the Heads of Research of the ECB and NCBs and the Household Finance and Consumption Network comprising survey specialists, statisticians and economists from the ECB, the NCBs and a number of national statistical institutes, |
HAS ADOPTED THIS GUIDELINE:
Article 1
Subject matter and scope
This Guideline establishes the requirements for NCBs to report to the ECB statistical information on household wealth, income and consumption that they have collected on the basis of national law. In particular, this Guideline specifies the statistical information to be reported by the NCBs to the ECB, the treatment of that information, the frequency and timing of that reporting and the standards applied to that reporting.
Article 2
Definitions
For the purpose of this Guideline, the following definitions apply:
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(1) |
‘HFCS’ (Household Finance and Consumption Survey) means the set of country surveys implemented in individual Member States on the wealth, income and consumption of households; |
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(2) |
‘country survey’ means a survey conducted in a Member State which forms part of the HFCS; |
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(3) |
‘fieldwork period’ means the period during which data is collected from the respondents to a country survey; |
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(4) |
‘reference period’ means the period to which the statistical information relates; |
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(5) |
‘reference date’ means the date to which the statistical information relates; |
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(6) |
‘private household’ means a person living alone or a group of persons who live together in the same private dwelling and share expenditures, including the joint provision of living essentials as well as financial decisions, as further specified in Part 3 of Annex I; |
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(7) |
‘personal data’ has the meaning attributed to the term by Regulation (EU) 2016/679 and Regulation (EU) 2018/1725; |
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(8) |
‘anonymisation’ means the process by which the possibility of direct or indirect identification has been eliminated such that neither a private household nor a natural person can be identified, and the anonymisation cannot be reversed; |
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(9) |
‘output variables’ means the standardised data categories covering the statistical information specified in Annex I and Annex II; |
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(10) |
‘imputation’ means assignment of an estimated value to an output variable that could not be collected or was not correctly collected. The estimated value is based on values collected for other households; |
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(11) |
‘administrative data’ mean data generated by a non-statistical source, usually a public body, the main aim of which is not the provision of statistics; |
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(12) |
‘aggregate indicators’ means summary statistics of certain output variables representative of the population that do not contain any confidential statistical information as defined in Article 1(12) of Regulation (EC) No 2533/98; |
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(13) |
‘usual residence’ means ‘usual residence’ as defined in Article 2(11) of Regulation (EU) 2019/1700 of the European Parlament and of the Council (4) ; |
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(14) |
‘sampling frames’ shall have the same meaning as defined in Article 2(14) of Regulation (EU) 2019/1700; |
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(15) |
‘research dataset’ means data files including statistical results based on statistical information on households and household members collected in line with this Guideline and made suitable for the performance of ESCB tasks. |
Article 3
Statistical information to be reported by the NCBs
1. NCBs shall report to the ECB statistical information on household wealth, income, consumption, and related core economic, financial and demographic output variables in accordance with Annex I.
2. An NCB may report certain non-core economic, financial and demographic output variables in accordance with Annex II.
3. An NCB may decide to voluntarily report non-core economic, financial and demographic output variables, in addition to the output variables referred to in paragraphs 1 and 2, where these relate to current or recent developments that may directly affect the economic or financial situation of different groups of citizens resident in the euro area.
4. NCBs shall report to the ECB the information describing the features of the country surveys undertaken by NCBs, as set out in Annex III.
5. The statistical information to be reported pursuant to this Article shall be based on one or a combination of the following sources:
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(a) |
data collected from the country surveys provided directly by respondents of the HFCS, which are preferably collected by computer-assisted personal interview (CAPI). Where CAPI is not used to collect the data, computer-assisted telephone interview (CATI), computer-assisted web-interview (CAWI), computer-assisted self-interview (CASI) or other computer-assisted methods may be used for any or all parts of the data collection. NCBs shall provide explanations to the ECB for using computer-assisted methods, other than CAPI, upon request; |
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(b) |
administrative data. |
Article 4
Statistical population
1. NCBs shall ensure that the statistical information to be reported is collected within the limits of a statistical population defined as comprising all persons having their usual residence in private households in each euro area Member State.
2. NCBs shall ensure that the statistical information is collected from a representative sample of the statistical population.
Article 5
Sampling
1. NCBs shall draw the statistical information from sampling frames set up at national level that allow private households or natural persons to be selected at random, with a known non-zero probability of selection. The sampling frames shall aim to identify and cover exhaustively the statistical population with a minimum coverage error and shall be regularly updated.
2. Where sub-populations covered by a country survey are significantly under-represented in the achieved sample, NCBs shall take measures such as oversampling or applying other relevant methods to correct the resulting bias, taking into account the need for cost-effectiveness. NCBs shall explain and assess the methods applied, their impact and any drawbacks in the statistical information specified in Annex III.
3. NCBs may allow for the controlled substitution of the sample private households or natural persons if the response rate of the country survey falls below 60 % for those selected to be interviewed for the first time, and one of the following applies:
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(a) |
the sample private household or person cannot be contacted; |
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(b) |
the sample private household or person is contacted, but the interview cannot be completed. |
The set of sample private households or natural persons for controlled substitution shall be defined prior to the data collection. There shall be no controlled substitution with private households or natural persons not belonging to that set.
Article 6
Imputation
1. Before reporting the statistical information to the ECB, the NCBs shall ensure that each core output variable that is missing due to non-responses is imputed where necessary in accordance with Annex I.
2. Each missing value which is being imputed shall be imputed five times applying multiple stochastic imputation so that the number of implicates is five.
3. Paragraph 2 shall not apply where the NCB considers that the missing information does not impact the overall data output generated by the survey.
Article 7
Fieldwork periods
1. The NCBs shall carry out at least 50 % of the interviews referred to in Article 3(5), point (a), in their country survey during the applicable HFCS reference year as referred to in Article 9.
2. The NCBs shall report the statistical information pursuant to Article 3 based on a fieldwork period that fulfils the following criteria:
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(a) |
the fieldwork period does not exceed 9 months; |
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(b) |
the fieldwork period does not begin before October of the year preceding the HFCS reference year or after the end of October in the HFCS reference year; |
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(c) |
the fieldwork period ends no later than the end of June of the year following the HFCS reference year. |
Article 8
Reference dates and periods
1. For statistical information related to wealth collected from country surveys, the reference date shall be either of the following:
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(a) |
the date when the statistical information was collected by interview; or |
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(b) |
31 December of the calendar year preceding the HFCS reference year referred to in Article 9, provided that the fieldwork period is completed within that HFCS reference year. |
2. For statistical information related to wealth based on administrative data, the reference date shall be either of the following:
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(a) |
a date in the HFCS reference year referred to in Article 9; or |
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(b) |
31 December of the calendar year preceding the HFCS reference year referred to in Article 9. |
3. For the statistical information related to income collected from country surveys, the reference period shall be a 12-month period ending either:
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(a) |
on 31 December of the calendar year preceding the start of the fieldwork period; or |
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(b) |
during the month preceding the date when the statistical information was collected by interview. |
4. For the statistical information related to income based on administrative data, the reference period shall be a 12-month period ending either:
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(a) |
on 31 December of the calendar year preceding the HFCS reference year referred to in Article 9; or |
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(b) |
on a date in the HFCS reference year referred to in Article 9. |
5. The reference dates and periods for all other statistical information referred to in Article 3(1) and (2) are set out in Part 1, paragraph 5, and Table A of Annex I and Part 1, paragraph 3, and Table A of Annex II, respectively.
Article 9
Frequency and timeliness
1. The HFCS reference year of the first transmission of statistical information referred to in Article 3 from NCBs to the ECB shall be 2026.
2. The HFCS reference years for subsequent transmissions shall follow the year 2026 with a three-year frequency.
3. NCBs shall report to the ECB the statistical information pursuant to Article 3 every 3 years.
4. NCBs shall report to the ECB the statistical information pursuant to Article 3 within 19 months following the end of the fieldwork period, and no later than 36 months from the beginning of the HFCS reference year.
5. Where NCBs derive part of the statistical information to be reported pursuant to this Guideline from administrative data, the deadline for the ECB to receive the statistical information referred to in Article 3 is 22 months after the end of the fieldwork period, and not later than 36 months from the beginning of the HFCS reference year.
Article 10
Revisions
1. NCBs may transmit to the ECB revisions of the statistical information reported pursuant to Article 3 that refer to previous HFCS reference years.
2. NCBs shall provide explanations to the ECB for revisions reported pursuant to paragraph 1 upon request.
Article 11
Data protection
1. For the purposes of this Guideline, each NCB is the controller within the meaning of Article 4(7) of Regulation (EU) 2016/679 of the data that it has collected in its country survey, or by other means, as relevant in its Member State, and that it is responsible for reporting to the ECB in accordance with Article 3.
2. NCBs shall ensure that no personal data as referred to in Article 3(1) of Regulation (EU) 2018/1725 and Article 4(1) of Regulation (EU) 2016/679 is reported to the ECB when reporting statistical information pursuant to Article 3 or where any other information in connection with the HFCS is shared. This means that each data element which would allow a natural person or a household to be identified, either directly or indirectly, in particular by reference to an identifier such as a name, an identification number, location data, an online identifier or one or more factors specific to the physical, physiological, genetic, mental, economic, cultural or social identity of that natural person is removed or anonymised before reporting the statistical information to the ECB, including where an NCB receives the statistical information or parts thereof from a third party.
3. If the ECB discovers or is informed by an NCB that personal data were erroneously transmitted, it shall immediately delete that personal data, and shall inform the relevant NCB accordingly.
Article 12
Statistical principles and explanations
1. NCBs shall monitor and ensure the quality and reliability of the statistical information reported to the ECB pursuant to this Guideline, including ensuring that the statistical information is appropriately reported to the ECB according to the statistical principles set out in Article 3a of Regulation (EC) No 2533/98.
2. Where necessary, NCBs shall provide explanations to the ECB on the interpretation of aspects of the output variables which are based on national specificities or structural breaks in detail, including the impact on that statistical information. NCBs shall also provide such explanations upon request by the ECB.
Article 13
Transmission
1. NCBs shall transmit the statistical information to be reported pursuant to this Guideline electronically, using the means specified by the ECB. The format developed for this electronic exchange of statistical information shall be the format agreed by the ESCB.
2. Where paragraph 1 does not apply, NCBs may use other means of transmitting statistical information with the ECB’s prior consent.
Article 14
Cooperation with competent authorities or bodies other than NCBs
1. Where the sources for part or all of the statistical information described in Article 3 are competent authorities or bodies other than NCBs, NCBs may establish the appropriate cooperation arrangements with these authorities or bodies to ensure a permanent structure for transmission of data which fulfils the ECB’s requirements set out in this Guideline, unless the same result is already achieved by national legislation.
2. For the purposes of paragraph 1, NCBs shall be responsible for ensuring that the ECB’s requirements set out in this Guideline are complied with when it relies on cooperation arrangements with other competent authorities or bodies to collect the statistical information described in Article 3.
Article 15
Use and dissemination of statistical information
The ECB shall use the statistical information collected under Article 3 for statistical purposes as follows:
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(a) |
to grant access to the research dataset (i) within the ESCB; and (ii) to scientific research bodies in accordance with the criteria and procedure set out in Annex IV; and |
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(b) |
to disseminate reports which include aggregate indicators. |
Each NCB is deemed to have provided its prior explicit consent and to have secured the prior explicit consent of any other authority which provided the statistical information collected under Article 3 to them prior to the granting of access under point (a).
Article 16
Grandfathering
Where the ECB has granted access to the research dataset to persons fulfilling the criteria for designating eligible researchers in accordance with Annex IV, those researchers may continue to have access to that research datatset in accordance with those criteria.
Article 17
Simplified amendment procedure
Taking account of the views of the Statistics Committee of the ESCB, the ECB’s Executive Board may make any technical amendments to the Annexes provided that such amendments neither change the underlying conceptual framework of this Guideline nor affect the reporting burden of NCBs. The Executive Board shall inform the Governing Council of any such amendment without undue delay.
Article 18
Transitional provisions
1. For the first transmission, NCBs may report to the ECB the statistical information referred to in Article 3 as follows:
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(a) |
within 21 months following the end of the fieldwork period, and not later than 36 months from the beginning of the HFCS reference year; |
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(b) |
where NCBs derive part of the statistical information to be reported pursuant to this Guideline from administrative data, within 25 months following the end of the fieldwork period, and not later than 36 months from the beginning of the HFCS reference year. |
2. Where an NCB requires a longer phase-in period for collecting the necessary statistical information referred to in Article 3, the Governing Council may grant an individual temporary derogation from the obligation to report to the ECB the required statistical information for the first transmission in line with Article 9(1). The individual temporary derogation shall only apply to the first transmission as referred to in Article 9(1).
3. Where an individual temporary derogation is granted pursuant to paragraph 2, the NCB concerned shall report at least once a year to the ESCB Statistics Committee on its progress in achieving full compliance with the obligation to report to the ECB for the subsequent transmissions as referred to in Article 9(2).
4. The Governing Council may decide that further restrictions are to be imposed on individual NCBs benefitting from any derogation under this Article.
Article 19
Taking effect and implementation
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 20
Addressees
This Guideline is addressed to all Eurosystem central banks.
Done at Frankfurt am Main, 31 January 2025.
For the Governing Council of the ECB
The President of the ECB
Christine LAGARDE
(1) Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (OJ L 318, 27.11.1998, p. 8).
(2) Regulation (EU) 2018/1725 of the European Parliament and of the Council of 23 October 2018 on the protection of natural persons with regard to the processing of personal data by the Union institutions, bodies, offices and agencies and on the free movement of such data, and repealing Regulation (EC) No 45/2001 and Decision No 1247/2002/EC (OJ L 295, 21.11.2018, p. 39).
(3) Regulation (EU) 2016/679 of the European Parliament and of the Council of 27 April 2016 on the protection of natural persons with regard to the processing of personal data and on the free movement of such data, and repealing Directive 95/46/EC (General Data Protection Regulation) (OJ L 119, 4.5.2016, p. 1).
(4) Regulation (EU) 2019/1700 of the European Parliament and of the Council of 10 October 2019 establishing a common framework for European statistics relating to persons and households, based on data at individual level collected from samples, amending Regulations (EC) No 808/2004, (EC) No 452/2008 and (EC) No 1338/2008 of the European Parliament and of the Council, and repealing Regulation (EC) No 1177/2003 of the European Parliament and of the Council and Council Regulation (EC) No 577/98 (OJ L 261 I, 14.10.2019, p. 1).
ANNEX I
Core output variables
1.
National central banks (NCBs) must report core output variables on (i) a household-level basis; (ii) an individual-level basis for all household members; or (iii) an individual-level basis for household members of 16 years and older.
Part 1 – Core output variables to be reported
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2. |
Table A sets out the core output variables to be reported by NCBs to the European Central Bank (ECB). |
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3. |
NCBs report core output variables to the ECB for all respondents. Core output variables may include missing values for some respondents where the output variable is not applicable (i.e. skipped due to routing, or the relevant country survey has no panel component). All remaining missing values and special answers (don’t know answer/no answer) must be imputed before reporting the statistical information to the ECB unless stated otherwise in Table A, i.e. codes -1 (don’t know) and -2 (no answer) are admissible for the output variable. |
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4. |
Core output variables may also be reported with missing values for anonymisation purposes. Output variables in brackets/grouped by categories (i.e. Age in brackets – RA0300_B, and Self-employment business $x: number of employees in brackets – HD050$x_B) must always be reported with actual values (1), irrespective of whether the corresponding core output variables with more detailed statistical information (i.e. Age – RA0300, and Self-employment business $x: number of employees – HD050$x) are reported as missing for anonymisation purposes. |
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5. |
Reference date/period refers to the date/period to which a particular output variable relates. ‘Current’ refers to time of data collection. ‘Constant’ refers to information which remains constant and does not change with time (irrespective of time of data collection). ‘Wealth reference date’ refers to the date as defined in Article 8(1) and (2). ‘Income reference period’ refers to the period as defined in Article 8(3) and (4). |
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6. |
Certain core output variables are looped, which implies that several core output variables must be reported in such cases. Output variable identifiers of variables which are looped include the sign ‘$’ (at least 1). This applies to different types of loans, properties, self-employment businesses, gifts/inheritances where the number of loops is by default 3, but NCBs may also apply 2 loops. In the case of pension plans, up to 7 loops may be applied. For example, in the case of 3 loops, 3 variables (HB1701, HB1702 and HB1703) are reported for the variable ‘HMR mortgage $x: current amount outstanding’ (HB170$x in Table A). |
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7. |
Certain core output variables are looped over 2 dimensions. In these cases, the output variable identifiers end with ‘$x$y’. For example, in the case of variable HB330$x$y (‘other property $x mortgage $y: year when loan taken’), 9 variables (HB33011, HB33012, HB33013, HB33021, HB33022, HB33023, HB33031, HB33032, HB33033) are reported (in the event of 3 loops for ‘other properties’ and ‘mortgages’). |
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8. |
For certain core output variables several options are available, which implies that several core output variables must be provided. Output variable identifiers of variables which contain options end with the letter ‘v’. For example, 6 variables (HD1320a, HD1320b, HD1320c, HD1320d, HD1320e, HD1320f) are reported for the variable ‘Types of mutual funds’ (HD1320v in Table A). |
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9. |
For certain core output variables there is a combination of loops and options. In these cases, the output variable identifiers end with ‘$xv’. For example, 6 variables (HB1201a, HB1201b, HB1202a, HB1202b, HB1203a, HB1203b) are reported for the variable ‘HMR mortgage $x: purpose of the loan with a: first choice purpose and b: second choice purpose’ (HB120$xv in Table A).
Table A Core output variables to be reported by NCBs to the ECB
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Part 2 – Description of the content of output variables
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10. |
Table B provides a detailed description of the content of the core output variables which NCBs must report to the ECB pursuant to this Guideline. |
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11. |
Where applicable, the descriptions draw upon definitions and descriptions contained in relevant official documents. For this purpose, the following sources are used:
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Part 3: Further specifications regarding the definition of a ‘private household’
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12. |
The definition of a ‘private household’ in Article 2 includes people who do not usually live with the respondent but who are completely or mostly financially dependent on the household, as set out in this Annex. |
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13. |
Employees of other residents (i.e. live-in domestic servants, au pairs, etc.) and flatmates without other family or partnership attachments to household members (e.g. resident boarders, lodgers, tenants, visitors, etc.) are considered as separate households. |
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14. |
Subject to the further and specific conditions set out in this Annex, the following persons must, if they share household expenses and financial decisions, be regarded as household members:
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15. |
For the purposes of paragraph 14, the following conditions for inclusion as household members also apply:
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16. |
Sharing household expenses includes benefiting from expenses (e.g. children, persons with no income) as well as contributing to expenses. If expenses are not shared and finances are kept separate, then the person constitutes a separate household at the same address. |
|
17. |
A person will be considered a usually resident member of the household if they spend most of their daily night-rest there, evaluated over the preceding 6 months (including children in joint custody and elderly parents if they spend more days living in the household dwelling than anywhere else). |
|
18. |
Persons forming new households or joining existing households are normally considered members of the household at their new location; similarly, those leaving to live elsewhere will no longer be considered members of the original household. The ‘preceding 6 months’ criterion in paragraph 17 is replaced by the intention to stay for a period of 6 months or more at the new place of residence. Account must be taken of what may be considered as ‘permanent’ movements in or out of households. Thus, a person who has moved into a household for an indefinite period or with the intention to stay for a period of 6 months or more is considered a household member, even though the person has not yet stayed in the household for 6 months and has in fact spent most of that time at another place of residence. Similarly, a person who has moved out of the household to some other place of residence with the intention to stay out of the first household for 6 months or more will no longer be considered a member of that household. |
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19. |
If the person who is temporarily absent is in private accommodation, determination of which household they belong to depends on the length of absence. |
|
20. |
Exceptionally, certain categories of persons with very close ties to the household may be included as members of the same household irrespective of the length of absence, provided they are not also considered members of another private household. In particular, students who live elsewhere but retain close ties with the household, regularly return to that household address and consider that household to be their main residence are to be considered part of the household irrespective of their length of stay at another address. |
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21. |
In applying these criteria, the aim is to minimise the risk that individuals who have two private addresses at which they might be deemed to reside are not double-counted in the sampling frame. Similarly, the risk of some persons being excluded from membership of any household, even though they belong to the private household sector, is also minimised. |
|
22. |
Persons living in collective households and in institutions are excluded from the target population and not covered within the definition of ‘private household’. |
|
23. |
‘Collective household’ refers to a non-institutional collective dwelling such as a boarding house, dormitory in an educational establishment or other living quarters shared by more than five persons without sharing household expenses. Persons living as lodgers in households with more than five lodgers are also included. |
|
24. |
‘Institution’ refers to old people’s homes, health care institutions, religious institutions (convents, monasteries, etc.), and correctional and penal institutions. Institutions are distinguished from collective households by the fact that those resident in institutions have no individual responsibility for their housekeeping. In certain cases, old people’s homes may be considered as ‘collective households’ on the basis of this principle. |
(1) Unless values are also set to missing for anonymisation purposes.
(2) ‘$x’ refers to the number in the loop. For example, HB130$x is to be reported when HB1010 > $x-1. This means that variable HB1301 is to be reported when HB1010 > 0, HB1302 is to be reported when HB1010 > 1 and HB1303 is to be reported when HB1010 > 2.
‘$loops’ refers to the number of loops. For example, HB2100 is to be reported when HB1010 > $loops. This means that in the case of 3 loops, variable HB2100 is to be reported when HB1010 > 3.
(3) Commission Regulation (EC) No 1201/2009 of 30 November 2009 implementing Regulation (EC) No 763/2008 of the European Parliament and of the Council on population and housing censuses as regards the technical specifications of the topics and of their breakdowns (OJ L 329, 15.12.2009, p. 29).
(4) Commission Implementing Regulation (EU) 2019/2181 of 16 December 2019 specifying technical characteristics as regards items common to several datasets pursuant to Regulation (EU) 2019/1700 of the European Parliament and of the Council (OJ L 330, 20.12.2019, p. 16).
(5) Commission Implementing Regulation (EU) 2019/2242 of 16 December 2019 specifying the technical items of data sets, establishing the technical formats and specifying the detailed arrangements and content of the quality reports on the organisation of a sample survey in the income and living conditions domain pursuant to Regulation (EU) 2019/1700 of the European Parliament and of the Council (OJ L 336, 30.12.2019, p. 133).
(6) Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (ECB/2021/2) (OJ L 73, 3.3.2021, p. 16).
(7) Guideline (EU) 2021/831 of the European Central Bank of 26 March 2021 on statistical information to be reported on financial intermediaries other than monetary financial institutions (ECB/2021/12) (OJ L 208, 11.6.2021, p. 59).
(8) Directive 2013/34/EU of the European Parliament and of the Council of 26 June 2013 on the annual financial statements, consolidated financial statements and related reports of certain types of undertakings, amending Directive 2006/43/EC of the European Parliament and of the Council and repealing Council Directives 78/660/EEC and 83/349/EEC (OJ L 182, 29.6.2013, p. 19).
(9) Regulation (EU) 2024/1988 of the European Central Bank of 27 June 2024 concerning statistics on investment funds and repealing Decision (EU) 2015/32 (ECB/2014/62) (ECB/2024/17) (OJ L, 2024/1988, 23.7.2024, ELI: http://data.europa.eu/eli/reg/2024/1988/oj).
ANNEX II
Non-core output variables
1.
National central banks (NCBs) may report non-core output variables on (i) a household-level basis; (ii) an individual-level basis for all household members; or (iii) an individual-level basis for household members of 16 years and older.
Part 1 – Non-core output variables
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2. |
Table A sets out the non-core output variables that NCBs may report to the European Central Bank (ECB) in addition to the core output variables set out in Annex I. |
|
3. |
‘Reference date/period’ refers to the date/period to which a particular output variable relates. ‘Current’ refers to time of data collection, ‘Constant’ refers to information which remains constant and does not change with time (irrespective of time of data collection), ‘Wealth reference date’ refers to the date as defined in Article 8(1) and (2), and ‘Income reference period’ refers to the period as defined in Article 8(3) and (4). |
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4. |
Certain non-core output variables are looped which implies that in these cases several non-core output variables are reported. Output variable identifiers of variables which are looped include the sign ‘$’ (at least 1). This applies to different types of loans, properties and gifts/inheritances where the number of loops is by default 3, but country surveys may also apply 2 loops. For example, in the case of 3 loops, 3 variables (HB2011, HB2012, HB2013) are reported for the variable ‘HMR mortgage $x: change in terms of mortgage’ (HB201$x in Table A). In the case of pension plans up to 7 loops may be applied. |
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5. |
For certain non-core output variables several options are available which implies that several non-core output variables must be provided. Output variable identifiers of variables which include options end with the letter ‘v’. For example, 4 variables (HD1910a, HD1910b, HD1910c, HD1910d) are reported for the variable ‘Type of other assets held’ (HD1910v in Table A). |
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6. |
For certain non-core output variables there is a combination of loops and options. In these cases, the output variable identifiers end with ‘$xv’. For example, 6 variables (HB1131a, HB1131b, HB1132a, HB1132b, HB1133a, HB1133b) are reported for the variable ‘HMR mortgage $x: reason for refinancing/renegotiation with a: first reason for refinancing/renegotiation and b: second reason for refinancing/renegotiation’ (HB113$xv in Table A). |
|
7. |
The non-core output variable ‘Other property $x mortgage $y: purpose of the loan’ (HB320$x$yv) is looped over 2 dimensions ($x other properties and $y mortgages) and 4 options (a, b, c, d) are available. In this case 36 variables (HB32011a to HB32011d, HB32012a to HB32012d, HB32013a to HB32013d, HB32021a to HB32021d, HB32022a to HB32022d, HB32023a to HB32023d, HB32031a to HB32031d, HB32032a to HB32032d, HB32033a to HB32033d) are reported (in the event of 3 loops for ‘other properties’ and ‘mortgages’).
Table A Non-core output variables
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Part 2 – Description of the content of non-core output variables
|
8. |
Table B provides a detailed description of the non-core output variables set out in Part 1.
Table B Description of the content of non-core output variables
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(1) ‘$x’ refers to the number in the loop. For example, HB201$x is to be reported when HB1010 > $x-1. This means that variable HB2011 is to be reported when HB1010 > 0, HB2012 is to be reported when HB1010 > 1 and HB2013 is to be reported when HB1010 > 2.
ANNEX III
Information to be reported by the NCBs describing the features of the country survey
1.
In accordance with Article 3(4), NCBs must report to the ECB information describing the features of the country surveys as set out in Sections 1 to 9.
Section 1 – Sampling design
Part 1 – General information
|
2. |
NCBs must provide the following general information regarding the sampling design.
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Part 2 – Panel/rotational sample component (to be reported only by countries whose survey has a panel component)
|
3. |
NCBs (whose survey has a panel component) must provide the following information regarding the panel/rotational sample component.
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Part 3 – Any other relevant information (optional)
|
4. |
NCBs must also provide any other information related to the sampling design which they deem relevant. |
Section 2 – Sample structure and survey outcome statistics
Part 1 – Sample sizes and non-response
|
5. |
If the necessary information for the output variable SB0100 (interview final outcome code) is not transmitted to the ECB, NCBs must provide the following information relating to sample sizes and non-response:
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Part 2 – Survey outcome statistics
|
6. |
If the necessary information for the output variable SB0100 (interview final outcome code) is not transmitted to the ECB, NCBs must provide information on the following survey outcome statistics:
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Part 3 – Any other relevant information (optional)
|
7. |
NCBs must also provide any other information related to sample structure and survey outcome statistics which they deem relevant. |
Section 3 – Concepts and definitions
Part 1 – Reference periods
|
8. |
NCBs must specify the reference period of the statistical information referring to:
|
Part 2 – Income output variables
|
9. |
NCBs must provide information on whether the income output variables collected are (i) gross; (ii) net of income taxes; (iii) net of income taxes and social contributions; or (iv) other (in this case further specifications must be provided). |
Part 3 – Definition of output variables: significant methodological departures
|
10. |
NCBs must provide a description of any significant methodological differences in the content of the output variables transmitted to the ECB compared to the descriptions of the output variables in Annex I, Part 2. |
|
11. |
NCBs must indicate the identifier(s)/name(s) of the output variables and describe the deviation(s) from the output variables’ definitions (e.g. HI0100, Monthly amount spent on food at home. Output variable also includes food outside home). |
Section 4 – Data collection
Part 1 – Fieldwork aspects
|
12. |
NCBs must provide the following information regarding the fieldwork:
|
Part 2 – Interviewers (recruitment, training, workload, compensation)
|
13. |
NCBs must provide the following information regarding the interviewers:
|
Part 3 – Questionnaire design and testing
|
14. |
NCBs must provide the following information regarding the questionnaire design and testing:
|
Part 4 – Contact strategies and non-response prevention
|
15. |
NCBs must provide the following information regarding contact strategies and non-response prevention:
|
Part 5 – Fieldwork auditing
|
16. |
NCBs must provide the following information regarding fieldwork auditing:
|
Part 6 – Use of other data sources for data collection
|
17. |
NCBs must indicate if they used sources other than interviews to collect or construct the output variables specified in Annex I (excluding the sources used in imputation for item non-response). If yes, possible sources are registers, statistical matching, other (in this case further specifications must be provided). |
Part 7 – Any other relevant information (optional)
|
18. |
NCBs must also provide any other information related to data collection which they deem relevant. |
Section 5 – Data processing and editing
Part 1 – General information
|
19. |
NCBs must indicate what general database management system they use to store and process data (e.g. SAS, Stata, SPSS). |
|
20. |
NCBs must indicate what sample/case management system they use. This refers to an electronic tool designed to automatically store and link different sources of information useful for the organisation and documentation of the fieldwork procedures. |
Part 2 – Coding and editing
|
21. |
NCBs must provide the following information regarding coding and editing:
|
Part 3 – Any other relevant information (optional)
|
22. |
NCBs must also provide any other information related to data processing and editing which they deem relevant. |
Section 6 – Weighting
Part 1 – Household design weights (output variable SD0300)
|
23. |
NCBs must provide the following information regarding household design weights:
|
Part 2 – Weighting adjustments for unit non-response based on sample-level information
|
24. |
NCBs must provide the following information regarding weighting adjustments for unit non-response:
|
Part 3 – Calibration to external sources
|
25. |
NCBs must provide the following information regarding calibration to external sources:
|
Part 4 – Weight trimming, or any other post-survey adjustments
|
26. |
NCBs must indicate whether (Yes/No) any other post-survey weight adjustments (including weight trimming or winsorizing) were implemented. If yes, a description of the adjustments must be provided. |
Part 5 – Final household weights and weight ratios
|
27. |
If the necessary information for the output variables HW0010 (household weight) and SD0300 (case design weight) is not transmitted to the ECB, NCBs must provide the following summary statistics:
|
|
28. |
If the survey has a panel component, NCBs must explain the weighting procedure, i.e. how the sampling weights for the newly selected households are combined with the weights from the previous wave (weighting share method, any other combination). |
Part 6 – Replicate weights
|
29. |
NCBs must provide the following information regarding replicate weights (output variable WR$$$$):
|
Part 7 – Any other relevant information (optional)
|
30. |
NCBs must also provide any other information related to weighting which they deem relevant. |
Section 7 – Imputation procedures
Part 1 – General information
|
31. |
NCBs must indicate the software tools used for imputation (i.e. SAS, Stata or other and, if other, which tool) and the organisations responsible for the imputation (i.e. NCB, NSI, survey company, other and, if other, which organisation). |
Part 2 – Technical information about the imputation procedures
|
32. |
NCBs must provide the following technical information regarding imputation procedures.
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Part 3 – Any other relevant information (optional)
|
33. |
NCBs must also provide any other information related to imputation procedures which they deem relevant. |
Section 8 – Disclosure control and national dissemination
Part 1 – Disclosure control
|
34. |
NCBs must report to the ECB information describing the methods and procedures used for data anonymisation at national level prior to submitting the statistical information to the ECB. |
Part 2 – Data dissemination
|
35. |
NCBs must provide information on the first national release of results (link, date and type of release). |
Section 9 – Additional information from national evaluations
|
36. |
NCBs must provide additional information available from national evaluations (not covered by Sections 1 to 8). This may include documents/references to methodological documentation available (e.g. national quality reports, independent methodological studies, comparisons with external sources). |
ANNEX IV
Criteria and procedure for designating eligible researchers
The European Central Bank (ECB) may grant access to the research dataset in accordance with Article 15, point (a)(ii), only to persons fulfilling the conditions listed in Section 2, which aim to ensure that access to information reported to the ECB pursuant to this Guideline is permitted for scientific research purposes only. Commercial use of the research dataset is strictly prohibited.
These conditions are published on the ECB’s website to inform researchers of the applicable conditions and procedures for applying for access to the research dataset. The ECB makes efforts to minimise delays in handling applications to the extent possible.
The ECB ensures that only safe data submission channels are used and determines the proper medium to be used.
1. Affiliated researcher
An affiliated researcher is a natural person who is a staff member of, or is associated with, any of the following entities:
|
(a) |
universities and other higher education organisations; |
|
(b) |
organisations or institutions conducting scientific research, excluding commercial companies; |
|
(c) |
bodies whose researchers may access confidential data for scientific purposes under Commission Decision 2004/452/EC (1). |
2. Conditions for access to the research dataset
The ECB may grant access to the research dataset to affiliated researchers who have submitted an application for access to the ECB, as set out in this Annex. In joint research projects with several researchers working on the same project, each researcher must send an individual application specifying which joint research project their request relates to. The application for access to the research dataset must satisfy the following conditions.
|
(a) |
The applicant must provide the ECB with the following information:
|
|
(b) |
A research plan must concisely:
|
|
(c) |
The applicant must provide details on the security of data storage (by ticking applicable options), in terms of:
|
|
(d) |
The applicant must specify in the application whether:
|
|
(e) |
All researchers involved in the research project must acknowledge and sign data usage terms and conditions and confidentiality obligations provided to them by the ECB. |
|
(f) |
The applicant must confirm with their signature the accuracy and correctness of the information provided in the application. |
3. Criteria used to assess requests to access the research dataset
The ECB assesses applications according to the criteria outlined below.
Mandatory criterion 1
All mandatory fields are filled in (name, phone number, address, intended research plan, use of results, curriculum vitae, and identification document attached, forms signed).
The information provided is verified (e.g. the identification document matches the researcher’s name, the scientific research body to which the researcher is affiliated exists, the curriculum vitae matches the name of the researcher and the scientific research body).
Mandatory criterion 2
The researcher has selected at least one item from each of the three groups of security measures (namely, logical file security, security of physical documents, and premises security).
Mandatory criterion 3
The data of the Household Finance and Consumption Survey may only be used for research purposes. Different elements of the application form are used to verify this.
The intended research plan, in conjunction with the background of the researcher (curriculum vitae) and the intended dissemination of results, must demonstrate that the purpose of the data request is to carry out research. There is no assessment of the quality of the intended research, only an assessment that the intended use is research. The funding (if relevant to the intended research) and the intention to publish may also be taken into account. If the research purpose is uncertain, the ECB will ask the researcher for further information and/or clarification.
Procedure if the mandatory criteria are not met
If the mandatory criteria are not met, the ECB contacts the researcher to request clarification and/or correction. For example, the researcher may be requested to:
|
— |
correct some information (e.g. information in the application form and curriculum vitae do not match); |
|
— |
substantiate elements of the curriculum vitae (e.g. the activity of the scientific research body or the link between the applicant and the scientific research body); |
|
— |
provide additional information on the intended research plan. |
If the clarification and/or correction is inadequate, the request will be rejected.
(1) Commission Decision 2004/452/EC of 29 April 2004 laying down a list of bodies whose researchers may access confidential data for scientific purposes (OJ L 156, 30.4.2004, p. 1).
ELI: http://data.europa.eu/eli/guideline/2025/333/oj
ISSN 1977-0677 (electronic edition)