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Document 32015O0044
Guideline (EU) 2016/450 of the European Central Bank of 4 December 2015 amending Guideline ECB/2014/15 on monetary and financial statistics (ECB/2015/44)
Guideline (EU) 2016/450 of the European Central Bank of 4 December 2015 amending Guideline ECB/2014/15 on monetary and financial statistics (ECB/2015/44)
Guideline (EU) 2016/450 of the European Central Bank of 4 December 2015 amending Guideline ECB/2014/15 on monetary and financial statistics (ECB/2015/44)
OJ L 86, 1.4.2016, p. 42–96
(BG, ES, CS, DA, DE, ET, EL, EN, FR, HR, IT, LV, LT, HU, MT, NL, PL, PT, RO, SK, SL, FI, SV)
No longer in force, Date of end of validity: 31/01/2022; Repealed by 32021O0835
- Date of document:
- 04/12/2015; Date of adoption
- Date of effect:
- 01/01/2016; Application See Art 2
- Date of effect:
- 01/04/2016; Takes effect Date notif. See Art 2
- Date of notification:
- 01/04/2016; The act was notified but the date of notification is not available on EUR-Lex – the date of publication is used instead.
- Date of end of validity:
- 31/01/2022; Repealed by 32021O0835
- Author:
- European Central Bank
- Form:
- Guideline
- Addressee:
- the national central banks of participating Member States
- Treaty:
- Treaty on European Union , Treaty on the Functioning of the European Union
- Legal basis:
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- 12012E/PRO/04 - A05.1 12012E/PRO/04 - A12.1 12012E/PRO/04 - A14.3
- 12012M/PRO/04 - A05.1 12012M/PRO/04 - A12.1 12012M/PRO/04 - A14.3
- 31998R2533
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Relation Act Comment Subdivision concerned From To Modifies 32014O0015 Completion annex II P. 23 01/01/2016 Modifies 32014O0015 Completion annex IV P. 6 01/01/2016 Modifies 32014O0015 Completion article 25 paragraph 1 01/01/2016 Modifies 32014O0015 Completion article 25 paragraph 2 01/01/2016 Modifies 32014O0015 Completion article 25 paragraph 3 01/01/2016 Modifies 32014O0015 Completion Text 01/01/2016 Modifies 32014O0015 Addition article 26a 01/01/2016 Modifies 32014O0015 Replacement annex II P. 22 TABL 01/01/2016 Modifies 32014O0015 Replacement annex III P. 2 01/01/2016 Modifies 32014O0015 Replacement annex III P. 3 01/01/2016 Modifies 32014O0015 Replacement annex III P. 4 01/01/2016 Modifies 32014O0015 Replacement annex IV P. 1 01/01/2016 Modifies 32014O0015 Replacement annex IV Text 01/01/2016 Modifies 32014O0015 Replacement annex V 01/01/2016 Modifies 32014O0015 Replacement article 1 paragraph 2 01/01/2016 Modifies 32014O0015 Replacement article 26 paragraph 2 01/01/2016
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Relation Act Comment Subdivision concerned From To Repealed by 32021O0835 01/02/2022 - Instruments cited:
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1.4.2016 |
EN |
Official Journal of the European Union |
L 86/42 |
GUIDELINE (EU) 2016/450 OF THE EUROPEAN CENTRAL BANK
of 4 December 2015
amending Guideline ECB/2014/15 on monetary and financial statistics (ECB/2015/44)
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 Articles 5.1, 12.1 and 14.3 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),
Whereas:
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(1) |
It is necessary to update the compilation of monetary and financial statistics in view of the fact that, pursuant to Regulation (EU) No 1374/2014 of the European Central Bank (ECB/2014/50) (2), insurance corporations will be subject to statistical reporting requirements starting with the reference period Q1 of 2016. It is therefore necessary to start compiling statistics on insurance corporations (ICs) within the framework set out in Guideline ECB/2014/15 (3). |
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(2) |
Guideline ECB/2014/15 should be amended accordingly, |
HAS ADOPTED THIS GUIDELINE:
Article 1
Amendments
Guideline ECB/2014/15 is amended as follows:
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1. |
in Article 1, paragraph 2 is replaced by the following: |
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2. |
in Article 25 the following paragraph is added to paragraph 1: ‘To enable the establishment and maintenance of the list of ICs for statistical purposes referred to in Article 3 of Regulation (EU) No 1374/2014 of the European Central Bank (ECB/2014/50) (*1), the variables specified in Parts 1 and 2 of Annex V need to be collected in RIAD at the intervals prescribed. NCBs shall report any updates of these variables, in particular when an institution joins or leaves the IC population. NCBs shall transmit complete reference data as specified in Parts 1 and 2 of Annex V on resident parent insurance undertakings and subsidiaries, on all resident branches irrespective of where their parent undertakings are located, as well as on branches of resident parent insurance undertakings and subsidiaries which are resident outside the economic territory of the Union. This set of information shall be complemented by complete reference data as specified in Parts 1 and 2 of Annex V on branches of resident parent insurance undertakings and subsidiaries which are resident in non-reporting, non-participating Member States. This reporting may be based on wider data collection covering all branches of resident parent insurance undertakings and subsidiaries, irrespective of their country of residence. (*1) Regulation (EU) No 1374/2014 of the European Central Bank of 28 November 2014 on statistical reporting requirements for insurance corporations (ECB/2014/50) (OJ L 366, 20.12.2014, p. 36)’;" |
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3. |
in Article 25 the following paragraph is added to paragraph 2: ‘In the first submission of the list of ICs, NCBs shall transmit to the ECB complete quarterly reference data as specified in Part 1 of Annex V on resident parent insurance undertakings and subsidiaries not later than 31 March 2016. However, NCBs are encouraged to transmit this information by 31 December 2015. NCBs shall transmit to the ECB complete reference data as specified in Parts 1 and 2 of Annex V on all resident branches irrespective of where their parent undertakings are located, as well as on branches of resident parent insurance undertakings and subsidiaries which are resident outside the economic territory of the Union and in non-reporting, non-participating Member States not later than 31 July 2016. Attributes required on an annual basis shall be reported for all institutions by 31 July 2016. In the subsequent transmissions, NCBs shall transmit to the ECB updates of the quarterly variables specified for ICs on at least a quarterly basis, within two months following the reference date. The annual variables shall be updated for all ICs on an annual basis, with a maximum lag of six months following the reference date of 31 December.’; |
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4. |
in Article 25, the following paragraph is added to paragraph 3: ‘By 18.00 CET on the fourth working day following the deadline for transmitting updates, the ECB shall take a copy of the IC dataset and make it available to the NCBs. The ECB shall then make the list of ICs available on its website.’; |
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5. |
in Article 26, paragraph 2 is replaced by the following: |
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6. |
the following Article 26a is inserted: ‘Article 26a Statistics on ICs 1. Scope of reporting 2. Reporting frequency and deadline NCBs shall report to the ECB quarterly IC data by close of business on the 10th working day following the deadline specified for quarterly data in Article 8 of Regulation (EU) No 1374/2014 (ECB/2014/50). For a transitional period covering the reporting of the first three quarters of 2016, this deadline is extended to the 30th working day following the abovementioned deadline for reference period Q1 of 2016, to the 25th working day following the abovementioned deadline for reference period Q2 of 2016 and to the 20th working day following the abovementioned deadline for reference period Q3 of 2016. NCBs shall report to the ECB annual IC data by close of business on the 10th working day following the deadline specified for annual data in Article 8 of Regulation (EU) No 1374/2014 (ECB/2014/50). The exact transmission dates shall be communicated to NCBs in advance in the form of a reporting calendar provided by the ECB by September of each year. In the first reporting of the quarterly IC data to the ECB, NCBs shall be required to submit data on outstanding amounts. Flow adjustments shall be transmitted on a best efforts basis. 3. Revision policy The following general rules shall apply to revisions of quarterly and annual data:
4. Derogations and grossing-up To ensure the quality of the euro area IC statistics, where NCBs grant derogations to the smallest ICs in accordance with Article 7(1)(a) of Regulation (EU) No 1374/2014 (ECB/2014/50), they shall gross up the quarterly IC data reported to the ECB to 100 % coverage. NCBs may choose the procedure for grossing-up to 100 % coverage based on the data collected in accordance with Article 7(1)(b) and 7(1)(c) of Regulation (EU) No 1374/2014 (ECB/2014/50) provided that estimates are based on the corresponding type of IC (i.e. life, non-life, reinsurance, composite). NCBs shall also ensure that, for the reference quarters of 2016, the data reported to the ECB represent 100 % of the reporting population. NCBs who intend to grant derogations to the smallest ICs under Article 7(1)(a) of Regulation (EU) No 1374/2014 (ECB/2014/50), shall collect all necessary information to ensure that data transmitted to the ECB is of high quality. NCBs who derive the required data from data collected for supervisory purposes under Directive 2009/138/EC of the European Parliament and of the Council (*2) may, for this purpose: (i) extend the data collected for the opening day as of reference date 1 January 2016 (see paragraph 5); (ii) increase the coverage of the reporting population of the first reference quarter(s); or (iii) use alternative data sources from which grossed-up data of equally high quality can be derived. 5. One-off reporting for reference period Q4 2015 NCBs shall transmit to the ECB end-2015 stock data, which may include approximations if needed, for the main aggregates as set out in Part 23 of Annex II. NCBs may, for this purpose, use the data referring to 1 January 2016 collected for supervisory purposes under Directive 2009/138/EC. These data shall be transmitted to the ECB together with the data for Q1 of 2016. 6. Derivation of aggregated data for securities NCBs shall derive the aggregated quarterly data on assets and liabilities for each type of IC in accordance with Tables 2a and 2b of Part 23 of Annex II as follows:
7. Breakdown of holdings of IF shares/units by main investment objective NCBs shall transmit to the ECB best estimates on the IC holdings of IF shares/units broken down by main investment objective (i.e. bond funds, equity funds, mixed funds, real estate funds, hedge funds and other funds). These data may be derived by mapping the information provided on an s-b-s basis in accordance with Regulation (EU) No 1374/2014 (ECB/2014/50) to the information derived from the CSDB as the reference database. If the IF shares/units held are not found in the CSDB, the NCBs shall estimate the missing data or use alternative sources to derive the data. As a transitional measure, NCBs may transmit these data to the ECB for the first time when transmitting data for Q2 2016, covering also the data for Q1 2016. 8. Estimation of quarterly data for non-life insurance technical reserves In accordance with Article 4(1)(c) of Regulation (EU) No 1374/2014 (ECB/2014/50), NCBs shall collect data on non-life insurance technical reserves broken down by line of business and geographical area on an annual basis. NCBs shall transmit quarterly data to the ECB which may be estimated based on the data collected annually. 9. Valuation methods and/or accounting rules The valuation and/or accounting rules in Regulation (EU) No 1374/2014 (ECB/2014/50) shall also apply when the NCBs report IC data to the ECB. 10. Explanatory notes NCBs shall submit explanatory notes explaining the reasons for significant revisions and revisions provided outside regular production periods in line with Article 26a(3)(c). In addition, the NCBs shall provide the ECB with explanatory notes concerning reclassification adjustments. 11. Compilation approach NCBs may collect data from all insurance corporations resident in the country (‘host approach’), in accordance with Article 2(1) of Regulation (EU) No 1374/2014 (ECB/2014/50) or they may derive the data required for ESCB purposes from data collected for supervisory purposes under Directive 2009/138/EC, in accordance with Article 2(2) of Regulation (EU) No 1374/2014 (ECB/2014/50) (‘home approach’). In principle, data transmitted to the ECB in accordance with this Guideline shall represent the host approach. However, NCBs who derive the data required for ESCB purposes from the supervisory data collection may transmit the data following the home approach as long as the difference between the host approach and home approach data is not deemed significant. The issue of whether or not the difference between the host and the home approach is significant shall be assessed on the basis of data on premiums reported in accordance with Table 3 of Part 23 of Annex II to this Guideline. Following this assessment, the ECB, in close cooperation with NCBs, will define the approach to be followed regarding the transmission of host approach data to the ECB. Until this approach is defined, NCBs are exempted from adjusting their data. NCBs who wish to adjust their data may, on a voluntary and best efforts basis, derive host approach data from data collected in accordance with the home approach. For this purpose, bilateral contacts and exchanges of data may take place between the NCBs concerned. (*2) Directive 2009/138/EC of the European Parliament and of the Council of 25 November 2009 on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 335, 17.12.2009, p. 1).’ " |
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7. |
Annexes II, III, IV and V are amended in accordance with the Annex to this Guideline. |
Article 2
Taking effect and implementation
This Guideline shall take effect on the day of its notification to the NCBs of the Member States. The NCBs of the Member States whose currency is the euro shall comply with this Guideline from 1 January 2016.
Article 3
Addressees
This Guideline is addressed to the NCBs of the Member States whose currency is the euro.
Done at Frankfurt am Main, 4 December 2015.
The President of the ECB
Mario DRAGHI
(1) OJ L 318, 27.11.1998, p. 8.
(2) Regulation (EU) No 1374/2014 of the European Central Bank of 28 November 2014 on statistical reporting requirements for insurance corporations (ECB/2014/50) (OJ L 366, 20.12.2014, p. 36).
(3) Guideline ECB/2014/15 of 4 April 2014 on monetary and financial statistics (OJ L 340, 26.11.2014, p. 1).
ANNEX
Annexes II, III, IV and V are amended as follows:
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1. |
in Annex II, the table on pension funds statistics in part 22 is replaced by the following table: ‘Assets Pension Funds
Liabilities Pension Funds
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2. |
in Annex II, the following Part 23 is added: ‘PART 23 Statistics on ICs Table 1 Data on assets and liabilities to be provided for Q4 2015: stocks (3)
Table 2a Data on assets to be provided on a quarterly basis: stocks and flow adjustments
Table 2b Data on liabilities to be provided on a quarterly basis: stocks and flow adjustments
Table 3 Data on premiums, claims and commissions to be provided on an annual basis
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3. |
in Annex III, Parts 2, 3 and 4 are replaced by the following: ‘PART 2 DSDs and datasets 1. In the SDMX messages exchanged, statistical concepts can be used either as dimensions (in composing the ‘keys’ identifying the time series) or as attributes (providing information about the data). Coded dimensions and attributes take their values from predefined code lists. The DSDs define the structure of the exchanged series keys, in terms of concepts and associated code lists. In addition, they define their relationship with the relevant attributes. The same structure can be used for several data flows, which are differentiated by the data set information. 2. In the context of monetary and financial statistics, the ECB has defined 12 DSDs currently used for the exchange of statistics with the ESCB and other international organisations. For the majority of those DSDs, one data set using that structure is exchanged and as a consequence the DSD identifier and the associated data set identifier (DSI) used in the SDMX data messages are the same. For treatment, timeliness and responsibility purposes, two different data sets following the ‘ECB_BSI1’ DSD have been defined and are distinguished at the DSI level. Similarly, two different data sets following the ‘ECB_ICPF1’ DSD have been defined and are distinguished at the DSI level. The following data flows characteristics are in production:
2.1. The DSI ‘ECB_BSI1’ is used to define the series keys for data on:
2.2. For the purposes of insurance corporations and pension funds (ICPF), the DSI ‘ECB_ICPF1’ is used to define the series keys for data on insurance corporations' assets and liabilities and on pension funds' assets and liabilities. PART 3 Dimensions The table below identifies the dimensions composing the series keys of the specific monetary and financial statistics listed in Part 2, their format and the code lists from which they take their code values.
Frequency. This dimension indicates the frequency of the reported time series. The specific data exchange requirements are as follows:
Reference area. This dimension relates to the country of residence of the reporting institution. In the ‘ECB_SEC1’ DSD, it indicates the country of residence of the issuing sector (*1). Adjustment indicator. This dimension indicates whether a seasonal adjustment and/or a working day adjustment are applied. Balance sheet reference sector breakdown. This dimension refers to the reporting sector according to the breakdown defined in the associated code list. Reference sector breakdown. This dimension indicates the reference sector for the structural financial indicators (in the ‘ECB_SSI1’ DSD). Securities issuing sector. This dimension refers to the sector of the securities issuers (in the ‘ECB_SEC1’ DSD). PSS information type. This dimension represents the general type of information to be provided in the context of the ‘ECB_PSS1’ DSD. PSS instrument. This dimension, used in the ‘ECB_PSS1’ DSD, indicates the particular type of instrument/device used for the payment transactions, e.g. cards with a cash function or credit transfers, etc. PSS entry point. This dimension is linked to the type of terminal or system through which the underlying payments transaction was done. For the correspondence of payment systems and PSS entry point code values, see Part 16 of Annex II. PSS data type. In the PSS context, this dimension gives the unit of measurement for the observation, i.e. whether a number or a value should be reported for the item (e.g. number of transactions per card, value of transactions per card, etc.). Compilation approach. This dimension indicates whether data represent the home or the host approach. Other financial intermediaries reporting sector. This dimension indicates the sector of the reporting institution within the OFI sector. Investment funds reporting sector. This dimension indicates the sector of the reporting institution within the IF sector. Financial vehicle corporations reporting sector. This dimension indicates the sector of the reporting institution within the FVC sector. Reporting sector. This dimension indicates whether the reporting institution is a PF or a type of IC. CBD reference sector breakdown. This dimension indicates the ownership and type of the reporting institution (domestic credit institutions versus foreign controlled subsidiaries or branches). CBD sector size. This dimension indicates the size of the reporting institution with respect to its total assets. It only applies to the domestic credit institutions. Structural financial indicator. This dimension is ‘ECB_SSI1’ DSD specific and represents the type of structural financial indicator. Balance sheet item. This dimension indicates the item of the MFI balance sheet as defined in Regulation (EU) No 1071/2013 (ECB/2013/33). Other financial intermediaries balance sheet item. This dimension indicates an item of the OFI balance sheet. OFIs concentrate on different financial activities depending on the type of institution, and not all balance sheet items apply to all types of intermediaries. Therefore, while most of the balance sheet items are common to all types of other financial intermediaries, ‘other assets’ and ‘other liabilities’ can have different definitions for different types of intermediaries. On the asset side, two different definitions are adopted for the ‘other assets’ item: (a) for security and derivative dealers (SDDs) this item includes loans; and (b) for financial corporations engaged in lending (FCLs) the item includes deposits, cash, investment fund shares, fixed assets and financial derivatives. With regard to the ‘other liabilities’ item: (a) for SDDs this item excludes debt securities, capital and reserves and financial derivatives; and (b) for FCLs this item includes financial derivatives. Securities item. This dimension refers to the items taken from the list of items set up for the monetary union financial accounts (MUFA) in line with the European System of Accounts concepts. It is only used for the ‘ECB_SEC1’ DSD. Investment funds assets and liabilities. This dimension relates to the item of the IF's assets and liabilities as defined in Regulation (EU) No 1073/2013 (ECB/2013/38). Financial vehicle corporations assets and liabilities. This dimension relates to the item of the FVC's assets and liabilities as defined in Regulation (EU) No 1075/2013 (ECB/2013/40). Insurance corporations and pension funds assets and liabilities. This dimension indicates an item of the IC and PF assets and liabilities. In the case of ICs, the items are defined in Regulation (EU) No 1374/2014 (ECB/2014/50). In the case of PFs, the items are defined in the ESA 2010. Insurance corporations operations item. This dimension relates to the items of operations of ICs, i.e. premiums, claims and commissions, as defined in Regulation (EU) No 1374/2014 (ECB/2014/50). Consolidated banking data item. This dimension indicates the item of the CBD reporting scheme to be reported (from the banks' income statement, balance sheet and capital adequacy reports). Original maturity. For the ‘ECB_BSI1’, ‘ECB_FVC1’, ‘ECB_IVF1’, ‘ECB_CBD1’ and ‘ECB_OFI1’ DSDs, this dimension indicates the original maturity of the BSI. For the ‘ECB_MIR1’ DSD, this dimension indicates, for items on outstanding amounts, the breakdown by original maturity or period of notice of the deposits or loans; for items on new business, it indicates the breakdown by original maturity or period of notice in the case of deposits and the initial period of fixation in the case of loans. Maturity. This dimension indicates the original and the remaining maturity of the instrument in the ‘ECB_ICPF1’ DSD. Securities valuation. This dimension identifies the valuation method used for securities issues statistics in the ‘ECB_SEC1’ DSD. Data type. This dimension describes the type of data reported in the ‘ECB_BSI1’, ‘ECB_SSI1’, ‘ECB_OFI1’, ‘ECB_IVF1’, ‘ECB_FVC1’, ‘ECB_CBD1’, ‘ECB_ICPF1’ and ‘ECB_ICO1’ DSDs. MIR data type. In the ‘ECB_MIR1’ DSD, this dimension distinguishes MFI interest rate statistics from those relating to the volumes of new business or outstanding amounts. Securities data type. This dimension indicates the type of data contained within the securities issues statistics in the ‘ECB_SEC1’ DSD. Net issues are only provided if issues and redemptions cannot be separately identified. Stock, flow. This dimension, which is ‘BIS_CBS’ specific, indicates the data type stock or flow of the data that is reported. Reference area code for BIS-IFS. This dimension, which is ‘BIS_CBS’ specific, represents the area of residence of the reporting institutions. CBS bank type. This dimension, which is ‘BIS_CBS’ specific, refers to the group of the corresponding reporting sector. For transmission to the ECB the code ‘4P’ should be used, namely, data should be reported only for domestic bank offices referring to CBD large banking groups. CBS reporting basis. This dimension, which is ‘BIS_CBS’ specific, represents the recording basis of a claim or exposure. CBS position type. This dimension, which is ‘BIS_CBS’ specific, represents the type of financial position recorded by the data. CBS remaining maturity. This dimension, which is ‘BIS_CBS’ specific, represents the remaining maturity of the claims or exposures recorded. CBS currency type of booking location. This dimension, which is ‘BIS_CBS’ specific, represents the currency type of the claims recorded. CBS counterparty sector. This dimension, which is ‘BIS_CBS’ specific, is linked to the sectoral breakdown of the counterpart for the claims or exposures recorded. CBS counterparty area. This dimension, which is ‘BIS_CBS’ specific, gives the country of residence of the counterpart of the relevant item. Counterpart area. This dimension gives the area of residence of the counterpart of the relevant item. Amount category. This dimension gives the category of the amount of new loans to non-financial corporations; new loans are also reported according to their size. It is only relevant for the ‘ECB_MIR1’ DSD. Balance sheet counterpart sector. This dimension is linked to the sectoral breakdown of the counterpart of BSIs. In the ‘ECB_ICPF1’ DSD, it indicates the sector of the counterpart of the relevant item. Counterpart sector. This dimension, defined in the ‘ECB_PSS1’ DSD, represents the sector breakdown of the type of beneficiary (counterpart) involved in the payment transaction. Financial vehicle corporations originator sector. This dimension, defined in the ‘ECB_FVC1’ DSD, represents the sector of the transferor (originator) of the assets, or a pool of assets, and/or the credit risk of the asset or pool of assets to the securitisation structure. Insurance corporations unit. This dimension indicates the relevant business unit of the IC. Currency of transaction. This dimension describes the currency in which the securities are issued (for the ‘ECB_SEC1’ DSD), or in which the following are denominated: (a) the MFI balance sheet items (for the ‘ECB_BSI1’ DSD); (b) the structural financial indicators (for the ‘ECB_SSI1’ DSD); (c) the deposits and loans (for the ‘ECB_MIR1’ DSD); (d) the IF assets and liabilities (for the ‘ECB_IVF1’ DSD); (e) the payment transactions (for the ‘ECB_PSS1’ DSD); (f) the FVC assets and liabilities (for the ‘ECB_FVC1’ DSD); (g) the OFI balance sheet items (for the ‘ECB_OFI1’ DSD); (h) the CBD items (for the ‘ECB_CBD1’ DSD); and (i) the transactions in IC and PF assets and liabilities (for the ‘ECB_ICPF1’ DSD). Currency denominator. This dimension describes the currency in which (a) the IC and PF assets and liabilities (for the ‘ECB_ICPF1’ DSD); and (b) the operations of ICs (for the ‘ECB_ICO1’ DSD) are denominated. Denomination of the series or special calculation. This dimension indicates the currency denominator in which the observations within a time series are expressed, or specifies the underlying calculation. Balance sheet suffix. This dimension, present in the ‘ECB_BSI1’ DSD, gives the currency denominator in which the observations within a time series are expressed, or specifies the underlying calculation. Series suffix in securities context. This dimension contains supplementary data types for derived series. It is only used for the ‘ECB_SEC1’ DSD. Interest rates business coverage. This dimension, which is ‘ECB_MIR1’ DSD specific, indicates whether the MFI interest rates statistics refer to outstanding amounts or to a new business. PART 4 Attributes The sections below explain in detail the attributes associated with the exchanged data. Section 1 defines the attributes per DSD including their format and attachment level. Section 2 sets out the responsibility of the ESCB data exchange partners in the creation of attributes and their maintenance, as well as the status of the attributes. Sections 3, 4 and 5 focus on the content of the attributes sorted by attachment level, respectively the sibling, time series and observation level. Section 1: Coded and uncoded attributes defined in the ECB_BSI1, ECB_SSI1, ECB_MIR1, ECB_OFI1, ECB_SEC1, ECB_PSS1, ECB_IVF1, ECB_FVC1, ECB_CBD1, BIS_CBS, ECB_ICPF1 and ECB_ICO1 DSDs In addition to the dimensions defining the series keys, a set of attributes is defined. The attributes are attached at various levels of the exchanged information: at sibling, time series or observation level. As illustrated below, they either take their value from pre-defined lists of codes or are uncoded, and are used to add textual explanations on relevant data aspects. Attribute values are exchanged only when they are set for the first time and whenever they change with the exception of the mandatory attributes attached at observation level, which are attached to each observation and reported at every data transmission. The table below provides information on the attributes defined for each DSD under consideration, on the level at which they are attached, their format and the name of the code lists from which coded attributes take their values.
Section 2: Common attributes properties for the ECB_BSI1, ECB_SSI1, ECB_MIR1, ECB_OFI1, ECB_SEC1, ECB_PSS1, ECB_IVF1, ECB_FVC1, ECB_CBD1, BIS_CBS, ECB_ICPF1 and ECB_ICO1 DSDs: NCBs reporting to the ECB (15) Each attribute is characterised by certain technical properties, which are listed in the table below.
The definition of a set of attributes to be exchanged together with the data allows for additional information on the time series exchanged to be provided. Details of the information provided by the attributes for the ECB statistical datasets under consideration are reported below. Section 3: Attributes at sibling level Mandatory TITLE_COMPL (title complement). This attribute allows a larger number of characters than the attribute TITLE and for this reason replaces TITLE as the mandatory attribute to store the title of the series. UNIT (unit)
UNIT_MULT (unit multiplier)
DECIMALS (decimals)
METHOD_REF (methodology reference). This attribute is only used for the PSS dataset and indicates whether, for each time series or for part of it, the 2005 ‘enhanced’ definition or a previous definition is used. Two values are defined:
The attribute should also indicate the period for which each definition applies. For example ‘2005 definitions for the whole series’, ‘2005 definitions as from data referring to 2003, previous definitions for the rest’, or ‘previous definitions up to data referring to 2004’. Conditional TITLE (title). NCBs may use the TITLE attribute for the construction of short titles. NAT_TITLE (national language title). NCBs may use the NAT_TITLE attribute to provide a precise description and other supplementary or distinguishing specifications in their national language. Although the use of upper and lower case letters does not cause problems, NCBs are asked to limit themselves to the Latin-1 character set. In general, the exchange of accented characters and extended alphanumeric symbols needs to be tested before regular use. COMPILATION (compilation). For the BSI, IVF, FVC, ICPF, ICO and MIR datasets this attribute may be used for further textual explanation of the compilation methods, weighting schemes and statistical procedures used to compile the underlying series, particularly if they diverge from the ECB rules and standards. In general, the structure of the required national explanatory notes is the following:
For the SSI dataset, the attribute ‘compilation’ includes information on links to the Union regulatory framework for intermediaries other than credit institutions. For the OFI dataset, a detailed description of the information to be included under this attribute is provided in points 1-5 of the national explanatory notes (see Part 11 of Annex II). Similarly, for the SEC dataset, a detailed description of the information to be included under this attribute is provided in points 1, 2, 4, 5, 8, 9 and 10 of the national explanatory notes (see Part 12 of Annex II). COVERAGE (coverage)
SOURCE_AGENCY (source agency). This attribute will be set by the ECB to a value representing the name of the NCB providing the data. Section 4: Attributes at time series level Mandatory COLLECTION (collection indicator). This attribute provides information on the period or the point in time at which a time series is measured (e.g. beginning, middle or end of period) or an indication of whether data are averages.
Conditional DOM_SER_IDS (domestic series identifier). This attribute makes it possible to refer to the code used in national databases to identify the corresponding series (formulae using national reference codes can also be specified). UNIT_INDEX_BASE (unit index base). This attribute is mandatory when associated to a series key that expresses an index. It indicates the base reference and the base value for the indices and is only used for the series of the index of notional stocks derived by the ECB and disseminated to the ESCB. BREAKS (breaks). This attribute provides a description of breaks and major changes over time in the collection, reporting coverage and compilation of the series. In the case of breaks, state the extent to which old and new data may be considered comparable, where possible. PUBL_PUBLIC, PUBL_MU, PUBL_ECB (source publication, source publication (euro area only), source publication (ECB only)). These attributes will be set by the ECB if the data are published in ECB publications, in either ECB public or ECB confidential publications. They give a reference (i.e. publications, items, etc.) to published data. Section 5: Attributes at observation level If an NCB wishes to revise an attribute assigned at the observation level, the relevant observation(s) must be re-submitted at the same time. If an NCB revises an observation without also providing the relevant attribute value, the existing values will be replaced by the default values. Mandatory OBS_STATUS (observation status). NCBs report an observation status value attached to each exchanged observation. This attribute is mandatory and must be provided with every data transmission for each individual observation. When NCBs revise the value of this attribute, both the observation value (even if unchanged) and the new observation status flag should be retransmitted. The list below specifies the expected values for this attribute, according to the agreed hierarchy, for the purpose of these statistics: ‘A’= normal value (default for non-missing observations), ‘B’= break value for the following datasets: SSI, MIR, CBD and PSS (*4), ‘M’= missing value, data do not exist, ‘L’= missing value, data exist but were not collected, ‘E’= estimated value (*5), ‘P’= provisional value (this value can be used, in each data transmission, with reference to the last available observation, if this is considered provisional). In normal circumstances, numeric values should be reported with the observation status ‘A’ (normal value) attached. Otherwise, a value different from ‘A’ is given in accordance with the list above. If an observation is qualified by two characteristics, the most important is reported, in accordance with the hierarchy shown above. In each data transmission, the most recent available observations can be reported as provisional, and flagged with the observation status value ‘P’. These observations take definite values and are reported with the observation status flag ‘A’ at a later stage when the new revised values and observation status flags overwrite the provisional ones. Missing values (‘-’) are reported when it is not possible to report a numeric value (e.g. owing to non-existent data or because data are not collected). A missing observation should never be reported as a ‘zero’, since zero is a normal numeric value that indicates a precise and valid amount. If NCBs are unable to identify the reason for a missing value, or if they cannot use the whole range of values presented in the CL_OBS_STATUS code list for reporting missing observations (‘L’ or ‘M’), the value ‘M’ should be used. When, due to local statistical conditions, data for a time series are not collected either on specific dates or for the total length of the time series (the underlying economic phenomenon exists, but is not monitored statistically), a missing value is reported (‘-’) with observation status ‘L’ for each period. When, due to local market practices or to the legal/economic framework, a time series (or part of it) is not applicable (the underlying phenomenon does not exist), a missing value is reported (‘-’) with observation status ‘M’. Conditional OBS_CONF (observation confidentiality). NCBs report an observation confidentiality value attached to each exchanged observation. While this attribute is defined as conditional in the ECB structural definition file, it should be provided at every data transmission for each individual observation, as each confidential observation must be appropriately flagged. When NCBs revise the value of this attribute, both the associated observation value and the observation status flag (even if unchanged) should be retransmitted. The list below specifies the expected values for this attribute for the purpose of these statistics: ‘F’= free for publication, ‘N’= not for publication, restricted to internal use only, ‘C’= confidential statistical information in the sense of Article 8 of Regulation (EC) No 2533/98, ‘S’= secondary confidentiality set and managed by the receiver, not for publication, ‘D’= secondary confidentiality set by the sender, not for publication. This code can be used by the NCBs that already differentiate between primary and secondary confidentiality in their reporting systems. If not, the reporting NCB must use ‘C’ for flagging the secondary confidentiality. OBS_PRE_BREAK (pre-break observation value). This attribute contains the pre-break observation value, which is a numeric field like the observation (*6). In general, it is provided when a break occurs; in this case the observation status must be set to ‘B’ (break value). For the purpose of the BSI, IVF, FVC, OFI, ICPF and ICO datasets, this attribute is not requested since the relevant information is already available from the reclassification series or the series expressing financial transactions. It has been added to the list of attributes since it is part of the common subset of attributes for all datasets. OBS_COM(observation comment). This attribute can be used to provide textual comments at the observation level (e.g. describing the estimate made for a specific observation due to lack of data, explaining the reason for a possible abnormal observation or giving details of a change in the reported time series). (*1) For NCBs, the country of residence of the issuing sector is the NCB's country of residence" (*4) If OBS_STATUS is reported as ‘B’ a value has to be reported under the attribute OBS_PRE_BREAK." (*5) The observation status ‘E’ is to be used for all observations or periods of data that are the result of estimates and cannot be considered as normal values." (*6) The four objects observation value plus OBS_STATUS, OBS_CONF and OBS_PRE_BREAK are treated as one entity. This means that NCBs are obliged to send all complementary information for an observation. (When attributes are not reported, their previous values are overwritten by default values.)’;" |
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Annex IV is amended as follows:
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Annex V is replaced by the following: ‘ANNEX V LIST OF INSTITUTIONAL UNITS FOR STATISTICAL PURPOSES PART 1 Mapping of Register of Institutions and Affiliates Database (RIAD) attribute list against specific data sets maintained for statistical purposes
PART 2 Types of relationships between organisational units
PART 3 Definitions and refinement of reporting instructions
PART 4 Data Transmission NCBs can provide (updates of) reference data online or in batch mode via RIAD, in accordance with one of the formats presented in the document entitled ’Exchange Specification for the RIAD Data Exchange System’. The insertion of new entities in RIAD (as well as exceptional deletion from the database) is also possible in online or in batch mode. RIAD takes a parsimonious approach to the management of reference data, which means that any change in the reference data of an individual entity can be applied for specific (single) attributes. Except in the case of material error, no unit registered in RIAD is erased; its lifespan is determined by entering a creation or closure date. Modifications of single attributes are implemented via the change (of the validity range) of specific values.’; |
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in the Glossary, the following entries are added:
(*11) Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 12, 17.1.2015, p. 1).’." |
(*1) For NCBs, the country of residence of the issuing sector is the NCB's country of residence
(*4) If OBS_STATUS is reported as ‘B’ a value has to be reported under the attribute OBS_PRE_BREAK.
(*5) The observation status ‘E’ is to be used for all observations or periods of data that are the result of estimates and cannot be considered as normal values.
(*6) The four objects observation value plus OBS_STATUS, OBS_CONF and OBS_PRE_BREAK are treated as one entity. This means that NCBs are obliged to send all complementary information for an observation. (When attributes are not reported, their previous values are overwritten by default values.)’;
(*7) This is in accordance with the ESA 2010 and other international statistical standards.
(*8) Nevertheless, in the case of IF statistics, Regulation (EU) No 1073/2013 (ECB/2013/38) requests separate reporting of new issuance and redemptions of IF shares/units during the reporting month
(*9) The definition and classification of ‘other changes’ is largely consistent with the ESA 2010. ‘Reclassifications and other adjustments’ is broadly equivalent to ‘other changes in the volume of assets and liabilities’ (K.1-K.6, see paragraphs 6.03-25), whereas ‘revaluations’ may be transferred to ‘nominal holding gains and losses’ (K.7, see paragraphs 6.26-64). For BSI statistics, an important deviation concerns the inclusion of ‘loan write-offs’ within ‘revaluations’ (and specifically as revaluations due to changes in prices), whereas in the ESA 2010 they are generally regarded as ‘other changes in volume’ (paragraph 6.14) — with the exception of losses realised at the sale of loans; these losses, which equal the difference between the transaction price and the balance sheet carrying amount of the loans, should be recorded as a revaluation (paragraph 6.58). The inclusion of ‘loan write-offs’ within ‘revaluations’ also deviates from the international investment position (i.i.p.) rules. In the i.i.p. these are treated as ‘other adjustments’ and not as ‘price or exchange rate changes’. For IF statistics, loans ‘write-offs/write-downs’ are not requested.
(*10) The adjustments corresponding to the ECB's own balance sheet are reported by the ECB Directorate-General Administration.’;
(*11) Commission Delegated Regulation (EU) 2015/35 of 10 October 2014 supplementing Directive 2009/138/EC of the European Parliament and of the Council on the taking-up and pursuit of the business of Insurance and Reinsurance (Solvency II) (OJ L 12, 17.1.2015, p. 1).’.’
(1) This item may include non-life insurance technical reserves (ESA 2010: F.61), claims of insurance corporations on pension managers (in line with ESA 2010: F.64) and provisions for calls under standardised guarantees (ESA 2010: F.66).
(2) This item, including the relevant breakdown, may include claims of managers on pension funds (in line with ESA 2010: F.64) and entitlements to non-pension benefits (ESA 2010: F.65).
(3) Data reference 1 January 2016 may be used as a proxy.
(4) This item may include non-life insurance technical reserves (ESA 2010: F.61), claims of insurance corporations on pension managers (in line with ESA 2010: F.64) and provisions for calls under standardised guarantees (ESA 2010: F.66)
(5) In the case of non-euro-area Member States, ‘MFIs’ and ‘non-MFIs’ refer to ‘banks’ and ‘non-banks’.
(6) This item may include entitlements to non-pension benefits (ESA 2010: F.65).
(7) The relevant ‘of which’ position of this item may also include claims of pension managers on insurance corporations acting as pension administrators (in line with ESA 2010: F.64).
(8) This item, including the relevant line of business, may include provisions for calls under standardised guarantees (ESA 2010: F.66).
(9) The code structure and DSD of the International Consolidated Banking Statistics are common to all reporting countries and should be the same as those that are used to report the corresponding data to the Bank for International Settlements (BIS) (www.bis.org/statistics/dsd_cbs.pdf).
(10) This indicates the number of letters/digits allowed for each element of the code lists (e.g. AN..7 means an alphanumeric string up to 7 characters long, AN1 means one alphanumeric character).
(11) New SDMX DSD code list.
(12) This indicates the number of letters/digits allowed for the transmission of each attribute (e.g. AN..1050 means an alphanumeric string up to 1 050 characters long, AN1 means one alphanumeric character, N1 means 1 digit).
(*2) If an NCB would like to make a modification it consults with the ECB, which will then implement the change.
(*3) Changes are communicated to the responsible ECB business area by e-mail.
(13) ECB refers here to the ECB Directorate-General Statistics.
(14) The ECB recommends that the NCBs deliver these values to ensure more transparent communication.
(15) All attributes specified in the table in Section 1, which are set by the ECB, are not covered in this table.
(16) Interest rate data are submitted as percentages.
(1) For further description and metadata see Part 3.
(2) PSRIs: payment statistics relevant institutions; please note that the list of PSRIs may overlap with the list of MFIs
(c) only for ‘large banking groups’ with headquarters in the euro area (see Article 12)
(d) For simple flags no specific validity ranges may need to be provided in the first go.
(17) Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential supervision of the business of electronic money institutions amending Directives 2005/60/EC and 2006/48/EC and repealing Directive 2000/46/EC (OJ L 267, 10.10.2009, p. 7).
(18) 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).
