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Document 02013R1071-20131127

Consolidated text: Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector (recast) (ECB/2013/33)

ELI: http://data.europa.eu/eli/reg/2013/1071/2013-11-27

2013R1071 — EN — 27.11.2013 — 000.001


This document is meant purely as a documentation tool and the institutions do not assume any liability for its contents

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REGULATION (EU) No 1071/2013 OF THE EUROPEAN CENTRAL BANK

of 24 September 2013

concerning the balance sheet of the monetary financial institutions sector (recast)

(ECB/2013/33)

(OJ L 297, 7.11.2013, p.1)


Corrected by:

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Corrigendum, OJ L 319, 29.11.2013, p. 23  (1071/2013)




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REGULATION (EU) No 1071/2013 OF THE EUROPEAN CENTRAL BANK

of 24 September 2013

concerning the balance sheet of the monetary financial institutions sector (recast)

(ECB/2013/33)



THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

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

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

Having regard to Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank ( 2 ), and in particular Article 6(4) thereof,

Having regard to the opinion of the European Commission,

Whereas:

(1)

Regulation (EC) No 25/2009 of the European Central Bank of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector (ECB/2008/32) ( 3 ) has been substantially amended. Since further amendments are to be made, in particular in the light of Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union ( 4 ), it should be recast in the interests of clarity.

(2)

The European System of Central Banks (ESCB) requires, for the fulfilment of its tasks, the production of the consolidated balance sheet of the monetary financial institutions (MFI) sector. The principal purpose of such information is to provide the European Central Bank (ECB) with a comprehensive statistical picture of monetary developments in the Member States whose currency is the euro (hereinafter the ‘euro area Member States’) which are viewed as one economic territory. These statistics cover aggregate financial assets and liabilities, in terms of stocks and transactions, based on a complete and homogeneous MFI sector and reporting population, and are produced on a regular basis. Sufficiently detailed statistical data are also necessary to guarantee the continued analytical usefulness of the euro area monetary aggregates and counterparts.

(3)

The ECB is required, in accordance with the Treaty on the Functioning of the European Union and under the conditions laid down in the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’), to make regulations to the extent necessary to implement the ESCB’s tasks as defined in the Statute of the ESCB and in some cases as laid down in the provisions adopted by the Council pursuant to Article 129(4) of the Treaty.

(4)

Article 5.1 of the Statute of the ESCB requires the ECB, assisted by the national central banks (NCBs), to collect the necessary statistical information either from the competent national authorities or directly from economic agents in order to undertake the ESCB’s tasks. Article 5.2 of the Statute of the ESCB stipulates that the NCBs carry out, to the extent possible, the tasks described in Article 5.1.

(5)

Article 3 of Regulation (EC) No 2533/98 requires the ECB to specify the actual reporting population within the limits of the reference reporting population and entitles it to fully or partly exempt specific classes of reporting agents from its statistical reporting requirements. Article 6(4) provides that the ECB may adopt regulations specifying the conditions under which the right to verify or to carry out the compulsory collection of statistical information may be exercised.

(6)

Article 4 of Regulation (EC) No 2533/98 requires Member States to organise themselves in the field of statistics and to cooperate fully with the ESCB in order to ensure fulfilment of the obligations arising from Article 5 of the Statute of the ESCB.

(7)

It may be appropriate for NCBs to collect from the actual reporting population the statistical information necessary to fulfil the ECB’s statistical requirements as part of a broader statistical reporting framework which the NCBs establish under their own responsibility in accordance with Union or national law or established practice and which also serves other statistical purposes, provided that the fulfilment of the ECB’s statistical requirements is not jeopardised. This may also reduce the reporting burden. In order to foster transparency, it is appropriate, in these cases, to inform the reporting agents that data are collected to fulfil other statistical purposes. In specific cases, the ECB may rely on statistical information collected for such other purposes to fulfil its requirements.

(8)

The statistical requirements are most detailed where the counterparties are part of the money-holding sector. Detailed data are required on: (a) deposit liabilities by subsector and maturity classified further by currency to permit a closer analysis of the developments of the foreign currency components included in the M3 monetary aggregate and to facilitate investigations concerning the degree of substitutability between foreign currency and euro-denominated components of M3; (b) loans by subsector, maturity, purpose, interest rate reset and currency, as this information is considered essential for monetary analysis purposes; (c) positions vis-à-vis other MFIs in so far as this is necessary to allow for netting of inter-MFI balances or to calculate the reserve base; (d) positions vis-à-vis non-euro area residents (rest of the world) for ‘deposits over two years agreed maturity’, ‘deposits redeemable at notice over two years’ and ‘repos’ in order to calculate the reserve base subject to the positive reserve ratio; (e) positions vis-à-vis the rest of the world for total deposit liabilities in order to compile the external counterparts; (f) deposit liabilities and loans vis-à-vis the rest of the world below and above one year original maturity for balance of payments and financial accounts purposes.

(9)

For the purpose of collecting statistical information on MFIs’ securities portfolios, pursuant to Regulation (EU) No 1011/2012 of the European Central Bank of 17 October 2012 concerning statistics on the holding of securities (ECB/2012/24) ( 5 ), NCBs report quarterly on a security-by-security basis. NCBs may combine the reporting requirements under this Regulation and Regulation (EU) No 1011/2012 (ECB/2012/24) where this may minimise the reporting burden on credit institutions. NCBs may allow money market funds (MMFs) to report in line with Regulation (EU) No 1073/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) ( 6 ), so as to alleviate the burden on fund managers.

(10)

Financial transactions are computed by the ECB as the difference between stock positions at end-month reporting dates, from which the effect of changes that arise due to influences other than transactions is removed. The requirement addressed to the reporting agents does not cover the exchange rate changes, which are calculated by the ECB, or by NCBs after consulting the ECB, from currency-by-currency stock data supplied by the reporting agents, or the reclassification adjustments, which are collected by the NCBs themselves using various information sources that are already available.

(11)

Article 5 of Regulation (EC) No 2531/98 empowers the ECB to adopt regulations or decisions in order to exempt institutions from the minimum reserve requirements, to specify modalities to exclude or deduct liabilities owed to any other institution from the reserve base, and to establish differing reserve ratios for specific categories of liabilities. Under Article 6 of Regulation (EC) No 2531/98, the ECB has the right to collect from institutions the information necessary for the application of minimum reserve requirements, and to verify the accuracy and quality of the information which institutions provide to demonstrate compliance with the minimum reserve requirements. In order to reduce the overall reporting burden, it is desirable for the statistical information regarding the monthly balance sheet to be used for the regular calculation of the reserve base of the credit institutions subject to the ECB’s minimum reserve system, in accordance with Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9) ( 7 ).

(12)

The determination of specific procedures to be applied in the case of mergers involving credit institutions is necessary in order to clarify the obligations of these institutions in respect of reserve requirements.

(13)

The ECB requires information on the securitisation activities of MFIs in order to interpret credit and loan developments in the euro area. Such information also complements data reported under Regulation (EU) No 1075/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2013/40) ( 8 ).

(14)

While it is recognised that regulations adopted by the ECB under Article 34.1 of the Statute of the ESCB do not confer any rights or impose any obligations on Member States whose currency is not the euro (hereinafter the ‘non-euro area Member States’), Article 5 of the Statute of the ESCB applies to both euro area and non-euro area Member States. Recital 17 of Regulation (EC) No 2533/98 refers to the fact that Article 5 of the Statute of the ESCB, together with Article 4(3) of the Treaty on European Union, implies an obligation to design and implement at national level all the measures that the non-euro area Member States consider appropriate in order to carry out the collection of the statistical information needed to fulfil the ECB’s statistical reporting requirements and timely preparations in the field of statistics in order for them to become euro area Member States.

(15)

The standards for the protection and use of confidential statistical information as laid down in Article 8 of Regulation (EC) No 2533/98 should apply.

(16)

Article 7(1) of Regulation (EC) No 2533/98 provides that the ECB has the power to impose sanctions on reporting agents which fail to comply with statistical reporting requirements set out in ECB regulations or decisions,

HAS ADOPTED THIS REGULATION:



Article 1

Definitions

For the purpose of this Regulation:

(a) ‘monetary financial institution’ (MFI) means a resident undertaking that belongs to any of the following sectors:

1. central banks; and

2. other MFIs, which comprise

(a) deposit-taking corporations:

(i) credit institutions as defined in Article 4(1)(1) of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms ( 9 ), and

(ii) deposit-taking corporations other than credit institutions which are:

 other financial institutions which are principally engaged in financial intermediation and whose business is to receive deposits and/or close substitutes for deposits from institutional units, not only from MFIs (the degree of substitutability between the instruments issued by other MFIs and the deposits placed with credit institutions shall determine their classification as MFIs); and for their own account, at least in economic terms, to grant loans and/or make investments in securities, or

 electronic money institutions that are principally engaged in financial intermediation in the form of issuing electronic money; or

(b) money market funds (MMFs) pursuant to Article 2;

(b) ‘reporting agent’ and ‘resident’ have the same meaning as defined in Article 1 of Regulation (EC) No 2533/98;

(c) ‘relevant NCB’ means the NCB of the euro area Member State in which the MFI is resident;

(d) ‘financial vehicle corporation (FVC)’ has the same meaning as defined in Article 1 of Regulation (EU) No 1075/2013 (ECB/2013/40);

(e) ‘securitisation’ means a transaction that is either: (a) a traditional securitisation as defined in Article 4 of Regulation (EU) No 575/2013; and/or (b) a securitisation as defined in Article 1 of Regulation (EU) No 1075/2013 (ECB/2013/40), which involves the disposal of the loans being securitised to an FVC;

(f) ‘electronic money institution’ and ‘electronic money’ have the same meaning as defined in Article 2(1) and (2) of Directive 2009/110/EC of the European Parliament and of the Council ( 10 );

(g) ‘write-down’ means the direct reduction of the carrying amount of a loan on the balance sheet due to its impairment;

(h) ‘write-off’ means a write-down of the full carrying amount of a loan leading to its removal from the balance sheet;

(i) ‘servicer’ means an MFI which manages loans underlying a securitisation or loans that have otherwise been transferred in terms of the collection of principal and interest from the obligors;

(j) ‘loan disposal’ means the economic transfer of a loan or pool of loans by the reporting agent to a transferee, achieved either by transfer of ownership or by sub-participation;

(k) ‘loan acquisition’ means the economic transfer of a loan or pool of loans from a transferor to the reporting agent, achieved either by transfer of ownership or by sub-participation;

(l) ‘intra-group positions’ mean positions between euro area deposit-taking corporations that belong to the same group, consisting of a parent and all its directly or indirectly controlled euro area resident group-members;

(m) ‘tail institution’ means a small MFI that has been granted a derogation pursuant to Article 9(1);

(n) ‘derecognition’ means the removal of a loan or part thereof from the stocks reported in accordance with Parts 2 and 3 of Annex I, including its removal due to the application of a derogation referred to in Article 9(4).

Article 2

Identification of MMFs

Collective investment undertakings complying with all the following shall be treated as MMFs, where they:

(a) pursue the investment objective of maintaining a fund’s principal and providing a return in line with the interest rates of money market instruments;

(b) invest in money market instruments which comply with the criteria for money market instruments set out in Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) ( 11 ), or deposits with credit institutions or, alternatively, ensure that the liquidity and valuation of the portfolio in which they invest is assessed on an equivalent basis;

(c) ensure that the money market instruments they invest in are of high quality, as determined by the management company. The quality of a money market instrument shall be considered, inter alia, on the basis of the following factors:

(i) the credit quality of the money market instrument;

(ii) the nature of the asset class represented by the money market instrument;

(iii) for structured financial instruments, the operational and counterparty risk inherent within the structured financial transaction;

(iv) the liquidity profile;

(d) ensure that their portfolio has a weighted average maturity (WAM) of no more than six months and a weighted average life (WAL) of no more than 12 months (in accordance with Annex I, Part 1, Section 2);

(e) provide daily net asset value (NAV) and a price calculation of their shares/units, and daily subscription and redemption of shares/units;

(f) limit investment in securities to those with a residual maturity until the legal redemption date of less than or equal to two years, provided that the time remaining until the next interest rate reset date is less than or equal to 397 days whereby floating rate securities should reset to a money market rate or index;

(g) limit investment in other collective investment undertakings to those complying with the definition of MMFs;

(h) do not take direct or indirect exposure to equity or commodities, including via derivatives and only use derivatives in line with the money market investment strategy of the fund. Derivatives which give exposure to foreign exchange may only be used for hedging purposes. Investment in non-base currency securities is allowed provided the currency exposure is fully hedged;

(i) have either a constant or fluctuating NAV.

Article 3

Actual reporting population

1.  The actual reporting population shall consist of the MFIs resident in the territory of the euro area Member States (in line with Part 1 of Annex II).

2.  The MFIs in the actual reporting population shall be subject to full statistical reporting requirements unless any derogation granted pursuant to Article 9 applies.

3.  Entities which meet the MFI definition shall fall under the scope of this Regulation even if they are excluded from the scope of Regulation (EU) No 575/2013.

4.  For the purpose of the collection of statistical information on the residency of the holders of MMF shares/units as specified in Section 5.7 of Part 2 of Annex I, the actual reporting population shall also consist of other financial intermediaries except insurance corporations and pension funds (‘OFIs’), subject to any derogations under Article 9(2)(c). For the purpose of this Regulation, NCBs may establish and maintain a list of OFIs that form part of the actual reporting population in accordance with the principles set out in Section 5.7 of Part 2 of Annex I.

Article 4

List of MFIs for statistical purposes

1.  The Executive Board shall establish and maintain a list of MFIs for statistical purposes, taking into account the requirements in respect of frequency and timeliness which arise from its use in the context of the ECB’s minimum reserve system. The list of MFIs for statistical purposes shall include an entry on whether or not they are subject to the ECB’s minimum reserve system. The list of MFIs shall be up-to-date, accurate, as homogeneous as possible and sufficiently stable for statistical purposes.

2.  The list of MFIs for statistical purposes and its updates shall be made accessible by NCBs and the ECB to the reporting agents in an appropriate manner, including by electronic means, via the internet or, at the request of the reporting agents, in paper form.

3.  The list of MFIs for statistical purposes shall be for information only. However, if the latest accessible version of the list is incorrect, the ECB shall not impose sanctions on any entity which did not properly fulfil its statistical reporting requirements to the extent that it relied in good faith on the incorrect list.

Article 5

Statistical reporting requirements

1.  The actual reporting population shall report to the NCB of the Member State in which the MFI is resident: (a) monthly stocks relating to the end-of-month balance sheet; and (b) monthly aggregated revaluation adjustments. Aggregated revaluation adjustments shall be reported in respect of loan write-offs and write-downs corresponding to the loans and covering the price revaluations of securities. Further details on certain items of the balance sheet information shall be reported quarterly or annually. NCBs may collect the quarterly data on a monthly basis if this facilitates the data production process. The required statistical information is specified in Annex I.

2.  NCBs may collect the required statistical information on securities issued and held by MFIs on a security-by-security basis, to the extent that the data referred to in paragraph 1 can be derived in accordance with the minimum statistical standards specified in Annex IV.

3.  MFIs shall report in accordance with the minimum requirements set out in Table 1A of Part 4 of Annex I monthly revaluation adjustments in respect of the full set of data required by the ECB. NCBs may collect additional data not covered by the minimum requirements. These additional data may refer to the breakdowns marked in Table 1A other than the ‘minimum requirements’.

4.  The ECB may require explanatory information on the adjustments in ‘reclassifications and other adjustments’ collected by the NCBs.

5.  The ECB may impose sanctions on reporting agents which fail to comply with the statistical reporting requirements set out in this Regulation in accordance with Decision ECB/2010/10 of 19 August 2010 on non-compliance with statistical reporting requirements ( 12 ).

Article 6

Additional statistical reporting requirements for loan securitisations and other loan transfers

MFIs shall report the following:

(a) the net flow of loan securitisations and other loan transfers carried out during the reporting period, in accordance with Section 2 of Part 5 of Annex I;

(b) the end-of-period amount outstanding and financial transactions excluding loan disposals and acquisitions during the relevant period in respect of securitised and derecognised loans for which the MFI acts as servicer in accordance with Section 3 of Part 5 of Annex I. NCBs may extend such reporting requirements to all derecognised loans serviced by MFIs that have been securitised or otherwise transferred;

(c) the end-of-quarter amount outstanding in respect of all loans for which the MFI acts as servicer in a securitisation, in accordance with Section 4 of Part 5 of Annex I;

(d) when applying the International Accounting Standard 39 (IAS 39), the International Financial Reporting Standard 9 (IFRS 9) or similar national accounting rules, the end-of-period amount outstanding in respect of loans disposed of by means of a securitisation that has not been derecognised from the balance sheet, in accordance with Section 5 of Part 5 of Annex I.

Article 7

Timeliness

1.  NCBs shall decide when and with which periodicity they need to receive data from reporting agents in order to meet the deadlines set out below, taking into account the timeliness requirements of the ECB’s minimum reserve system where relevant, and shall inform the reporting agents accordingly.

2.  Monthly statistics shall be transmitted by the NCBs to the ECB by close of business on the 15th working day following the end of the month to which they relate.

3.  Quarterly statistics shall be transmitted by the NCBs to the ECB by close of business on the 28th working day following the end of the quarter to which they relate.

Article 8

Accounting rules for the purposes of statistical reporting

1.  Unless otherwise provided for in this Regulation, the accounting rules followed by MFIs for the purposes of reporting under this Regulation shall be those laid down in the national transposition of Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions ( 13 ), as well as in any other international standards applicable.

2.  Deposit liabilities and loans shall be reported at their principal amount outstanding at the end of the month. Write-offs and write-downs as determined by the relevant accounting practices shall be excluded from this amount. Deposit liabilities and loans shall not be netted against any other assets or liabilities.

3.  Without prejudice to accounting practices and netting arrangements prevailing in the euro area Member States, all financial assets and liabilities shall be reported on a gross basis for statistical purposes.

4.  NCBs may allow the reporting of provisioned loans net of provisions and the reporting of purchased loans at the price agreed at the time of their acquisition, provided that such reporting practices are applied by all resident reporting agents.

Article 9

Derogations

1.  Derogations may be granted to small MFIs, as follows:

(a) NCBs may grant derogations to small MFIs, provided that their combined contribution to the national MFI balance sheet in terms of stocks does not exceed 5 %;

(b) with regard to credit institutions, the derogations referred to in point (a) shall have the effect of reducing the statistical reporting requirements of credit institutions to which such derogations apply without prejudice to the requirements for the calculation of minimum reserves as set out in Annex III;

(c) with regard to small MFIs, where a derogation referred to in point (a) applies, NCBs shall continue, as a minimum, to collect data relating to the total balance sheet at least at an annual frequency so that the combined contribution to the national MFI balance sheet of the tail institutions can be monitored;

(d) without prejudice to point (a), NCBs may grant derogations to credit institutions that do not benefit from the regime laid down in points (a) and (b) with the effect of reducing their reporting requirements to those laid down in Part 6 of Annex I, provided that their combined contribution to the national MFI balance sheet in terms of stocks exceeds neither 10 % of the national MFI balance sheet nor 1 % of the euro area MFI balance sheet;

(e) NCBs shall check the fulfilment of the conditions set out in points (a) and (d) in good time in order to grant or withdraw, if necessary, any derogation with effect from the start of each year;

(f) small MFIs may choose not to make use of the derogations and to fulfil the full reporting requirements instead.

2.  Derogations may be granted to MMFs by NCBs, as follows:

(a) NCBs may grant derogations to MMFs from the statistical reporting requirements set out in Article 5(1) provided that MMFs instead report balance sheet data in accordance with Article 5 of Regulation (EU) No 1073/2013 (ECB/2013/38), subject to the following requirements:

(i) MMFs report such data on a monthly basis in accordance with the ‘combined approach’ set out in Annex I to Regulation (EU) No 1073/2013 (ECB/2013/38) and in accordance with the timeliness requirements set out in Article 9 thereof; and

(ii) MMFs report end-of-month stock data on MMF shares/units in accordance with the timeliness requirements set out in Article 7(2);

(b) NCBs may also grant derogations to MMFs from the following statistical reporting requirements:

(i) to provide the total positions for: (1) deposits of and loans granted to central banks and deposit-taking corporations; (2) deposits of and loans granted to all counterpart sectors apart from the non-financial corporations sector broken down by original maturity; and (3) intra-euro area cross-border deposits and loans broken down by country and by sector;

(ii) to provide the total accrued interest for loans and deposits;

(iii) to provide asset and liabilities positions vis-à-vis the insurance corporations and the pension funds sectors separately;

(iv) to provide information on intra-group positions, loans and deposits;

(c) NCBs may grant derogations in respect of the statistical reporting requirements as regards the residency of the holders of MMF shares/units:

(i) where MMF shares/units are issued for the first time or where market developments require a change of a reporting option or the combination thereof, as defined in Section 5.7(b) of Part 2 of Annex I, NCBs may grant derogations, for a period of one year, in respect of the statistical reporting requirements set out in Section 5.7 of Part 2 of Annex I; or

(ii) where the required statistical information on the residency of the holders of MMF shares/units is collected from other available sources in accordance with Section 5.7 of Part 2 of Annex I. NCBs shall check the fulfilment of this condition in good time in order to grant or withdraw, if necessary, any derogation with effect from the start of each year, in agreement with the ECB.

3.  Derogations may be granted in respect of reporting revaluation adjustments to MFIs, as follows:

(a) without prejudice to paragraph 1, NCBs may grant derogations in respect of the reporting of revaluation adjustments to MMFs, removing from the MMFs any requirement to report revaluation adjustments;

(b) NCBs may grant derogations in respect of the frequency and timeliness of the reporting of price revaluations of securities and require these data on a quarterly basis and with the same timeliness as for stock data reported on a quarterly basis, subject to the following requirements:

(i) reporting agents, using different valuation methods, shall provide the NCBs with the relevant information on valuation practices, including quantitative indications on the percentage of their holdings of these instruments; and

(ii) where a substantial price revaluation has occurred, NCBs shall be entitled to request reporting agents to provide additional information relating to the month in which this took place;

(c) NCBs may grant derogations in respect of the reporting of price revaluations of securities, including the granting of complete exemption from any such reporting, to credit institutions which report the monthly stocks of securities on a security-by-security basis, subject to the following requirements:

(i) the information reported includes, for each security, its carrying value on the balance sheet; and

(ii) for securities without publicly available identification codes, the information reported includes information on the instrument category, maturity and issuer which is at least sufficient for the derivation of the breakdowns defined as ‘minimum requirements’ in Part 5 of Annex I.

4.  Derogations may be granted to MFIs in respect of the statistical reporting of loans that are disposed of by means of a securitisation.

MFIs applying the International Accounting Standard 39 (IAS 39), the International Financial Reporting Standard 9 (IFRS 9) or similar national accounting rules may be allowed by their NCB to exclude from the stocks required by Parts 2 and 3 of Annex I any loans disposed of by means of a securitisation in accordance with national practice, provided that this practice is applied by all resident MFIs.

5.  NCBs may grant derogations to MFIs in respect of reporting certain quarterly stocks related to non-euro area Member States.

If figures collected at a higher level of aggregation show that positions vis-à-vis counterparties resident in any non-euro area Member State or positions vis-à-vis the currency of a non-euro area Member State are insignificant, an NCB may decide not to require reporting in relation to such a Member State. The NCB shall inform its reporting agents of any such decision.

Article 10

Minimum standards and national reporting arrangements

1.  Reporting agents shall comply with the statistical reporting requirements to which they are subject in accordance with the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.

2.  The NCBs shall define and implement the reporting arrangements to be followed by the actual reporting population in accordance with national requirements. The NCBs shall ensure that these reporting arrangements provide the required statistical information and allow accurate checking of the fulfilment of the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.

Article 11

Mergers, divisions and reorganisations

In the event of a merger, division or any other reorganisation that might affect the fulfilment of its statistical obligations, the actual reporting agent concerned shall inform the relevant NCB, once the intention to implement such an operation has become public and within a reasonable time before it takes effect, of the procedures that are planned to fulfil the statistical reporting requirements set out in this Regulation.

Article 12

Use of the reported statistical information for the purpose of minimum reserves

1.  The statistical information reported by credit institutions in accordance with this Regulation shall be used by each credit institution to calculate its reserve base in accordance with Regulation (EC) No 1745/2003 (ECB/2003/9). In particular, each credit institution shall use this information to verify the fulfilment of its reserve requirement over the maintenance period.

2.  The reserve base data for the tail institutions for three reserve maintenance periods shall be based on end-of-quarter data collected by the NCBs within 28 working days following the end of the quarter to which they relate.

3.  The special rules on the application of the ECB’s minimum reserve system set out in Annex III shall prevail over any provisions of Regulation (EC) No 1745/2003 (ECB/2003/9) in the case of conflict.

4.  In order to facilitate the liquidity management of the ECB and of credit institutions, reserve requirements shall be confirmed at the latest on the first day of the maintenance period; however the need may exceptionally arise for credit institutions to report revisions to the reserve base or to reserve requirements which have been confirmed. The procedures for confirmation or acknowledgement of reserve requirements are without prejudice to the obligation for reporting agents always to report correct statistical information and to revise, as soon as possible, any incorrect statistical information they have already reported.

Article 13

Verification and compulsory collection

The NCBs shall exercise the right to verify or collect compulsorily the information which reporting agents are required to provide pursuant to this Regulation, without prejudice to the ECB’s right to exercise these rights itself. In particular, the NCBs shall exercise this right when an institution included in the actual reporting population does not fulfil the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.

Article 14

First reporting

1.  First reporting pursuant to this Regulation shall start with data for December 2014.

2.  First reporting according to this Regulation in respect of cells corresponding to euro area Member States in Table 3 of Part 3 of Annex I shall begin with the first quarterly data after the date of their adoption of the euro.

3.  First reporting according to this Regulation in respect of cells corresponding to non-euro area Member States in Tables 3 and 4 of Part 3 of Annex I shall begin with the first quarterly data after the date of their accession to the Union. If the relevant NCB decides not to require first reporting of insignificant data beginning with the first quarterly data after the date of the relevant Member State or Member States’ accession to the Union, reporting shall begin 12 months after the NCB informs the reporting agents that data are required.

Article 15

Repeal

1.  Regulation (EC) No 25/2009 (ECB/2008/32) is repealed with effect from 1 January 2015.

2.  References to the repealed Regulation shall be construed as references to this Regulation and shall be read in accordance with the correlation table set out in Annex VI.

Article 16

Final provision

This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union. It shall apply from 1 January 2015.

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




ANNEX I

MONETARY FINANCIAL INSTITUTIONS AND STATISTICAL REPORTING REQUIREMENTS

Introduction

The statistical system for the Member States whose currency is the euro (hereinafter the ‘euro area Member States’ covering the balance sheet of the monetary financial institution (MFI) sector comprises the two following main elements:

(a) a list of MFIs for statistical purposes (see Part 1 for identification of certain MFIs); and

(b) a specification of the statistical information reported by these MFIs at monthly, quarterly and annual frequency (see Parts 2, 3, 4, 5, 6 and 7).

For the purpose of obtaining complete information on the MFIs’ balance sheets, it is also necessary to impose certain statistical reporting requirements on non-MMF investment funds (IFs) and on other financial intermediaries except insurance corporations and pension funds (hereinafter the ‘OFIs’), when acting in the context of financial activities involving money market fund (MMF) shares/units. This statistical information is collected by the national central banks (NCBs) from the MFIs and from IFs and OFIs, in accordance with Part 2 and according to national arrangements relying on the harmonised definitions and classifications set out in Article 1 and Annex II.

The money stock includes notes and coins in circulation and other monetary liabilities (deposits and other financial instruments which are close substitutes for deposits) of MFIs. The counterparts to the money stock comprise all other items in the MFI balance sheet. The ECB also compiles financial transactions derived from the stocks and from other data, including revaluation adjustment data reported by MFIs (see Part 5).

The statistical information required by the ECB is summarised in Part 8.

PART 1

Identification of certain MFIs

SECTION 1

Identification of certain MFIs based on principles of substitutability of deposits

1.1 Financial institutions other than credit institutions which issue financial instruments that are considered close substitutes for deposits are classified as MFIs provided that they meet the MFI definition in other respects. The classification is based on the criteria of substitutability of deposits, i.e. whether liabilities are classified as deposits, which is determined by their liquidity, combining characteristics of transferability, convertibility, certainty and marketability, and having regard, where appropriate, to their term of issue.

These criteria for the substitutability of deposits are also applied to determine whether liabilities should be classified as deposits, unless there is a separate category for such liabilities.

1.2 For the purposes both of determining substitutability of deposits and classifying liabilities as deposits:

(a) transferability refers to the possibility of mobilising funds placed in a financial instrument by using payment facilities, such as cheques, transfer orders, direct debits or similar means;

(b) convertibility refers to the possibility and the cost of converting financial instruments into currency or transferable deposits; the loss of fiscal advantages in the case of such conversion may be considered a penalty that reduces the degree of liquidity;

(c) certainty means knowing precisely in advance the capital value of a financial instrument in terms of national currency;

(d) securities quoted and traded regularly on an organised market are considered to be marketable. For shares in open-end collective investment undertakings, there is no market in the usual sense. Nevertheless, investors know the daily quotation of the shares and can withdraw funds at this price.

SECTION 2

Specifications for the MMFs’ identification criteria

For the purpose of Article 2:

(a) the money market instrument shall be considered to be of a high credit quality, if it has been awarded one of the two highest available short-term credit ratings by each recognised credit rating agency that has rated the instrument or, if the instrument is not rated, it is of an equivalent quality as determined by the management company’s internal rating process. Where a recognised credit rating agency divides its highest short-term rating into two categories, these two ratings shall be considered as a single category and therefore the highest rating available;

(b) the money market fund may, as an exception to the requirement in point (a), hold sovereign issuance of at least investment grade quality, whereby ‘sovereign issuance’ means money market instruments issued or guaranteed by a central, regional or local authority or central bank of a Member State, the ECB, the Union or the European Investment Bank;

(c) when calculating WAL for securities, including structured financial instruments, the maturity calculation is based on the residual maturity until the legal redemption of the instruments. However, when a financial instrument embeds a put option, the exercise date of the put option may be used instead of the legal residual maturity only if the following conditions are fulfilled at all times:

(i) the put option may be freely exercised by the management company at its exercise date;

(ii) the strike price of the put option remains close to the expected value of the instrument at the next exercise date;

(iii) the investment strategy of the MMF implies that there is a high probability that the option will be exercised at the next exercise date;

(d) when calculating both WAL and WAM, the impact of financial derivative instruments, deposits and efficient portfolio management techniques shall be taken into account;

(e) ‘weighted average maturity’ (WAM) shall mean a measure of the average length of time to maturity of all of the underlying securities in the fund weighted to reflect the relative holdings in each instrument, assuming that the maturity of a floating rate instrument is the time remaining until the next interest rate reset to the money market rate, rather than the time remaining before the principal value of the security must be repaid. In practice, WAM is used to measure the sensitivity of a MMF to changing money market interest rates;

(f) ‘weighted average life’ (WAL) shall mean the weighted average of the remaining maturity of each security held in a fund, meaning the time until the principal is repaid in full, disregarding interest and not discounting. Contrary to the calculation of the WAM, the calculation of the WAL for floating rate securities and structured financial instruments does not permit the use of interest rate reset dates and instead only uses a security’s stated final maturity. WAL is used to measure the credit risk, as the longer the reimbursement of principal is postponed, the higher the credit risk. WAL is also used to limit the liquidity risk;

(g) ‘money market instruments’ means instruments normally traded on the money market which are liquid and have a value which can be accurately determined at any time;

(h) ‘management company’ means a company, the regular business of which is the management of the portfolio of an MMF.

PART 2

Balance sheet (monthly stocks)

To compile the euro area monetary aggregates and counterparts, the ECB requires the data in Table 1 as follows:

1.   Instrument categories

(a)   Liabilities

The relevant instrument categories are: currency in circulation, deposit liabilities, MMF shares/units issued, debt securities issued, capital and reserves and remaining liabilities. In order to separate monetary and non-monetary liabilities, deposit liabilities are also broken down into overnight deposits, deposits with agreed maturity, deposits redeemable at notice and repurchase agreements (repos). See definitions in Annex II.

(b)   Assets

The relevant instrument categories are: cash, loans, debt securities held, equity, investment fund shares, fixed assets and remaining assets. See definitions in Annex II.

2.   Breakdown by maturity

Original maturity cut-offs provide a substitute for instrument detail where financial instruments are not fully comparable between markets.

(a)   Liabilities

The cut-off points for the maturity bands, or for periods of notice, are: for deposits with agreed maturity, at one year and two years’ maturity at issue; and for deposits redeemable at notice, at three months’ and two years’ notice. Repos are not broken down by maturity as these are usually very short-term instruments, i.e. usually less than three months’ maturity at issue. Debt securities issued by MFIs are broken down at one and two years. No maturity breakdown is required for shares/units issued by MMFs.

(b)   Assets

The cut-off points for the maturity bands are: for MFI loans to euro area residents (other than MFIs) by subsector and further for MFI loans to households by purpose, at one and five year maturity bands; and for MFI holdings of debt securities issued by other MFIs located in the euro area, at one and two year maturity bands to enable the inter-MFI holdings of this instrument to be netted off in the calculation of the monetary aggregates.

3.   Breakdown by purpose and separate identification of loans to sole proprietorships/partnerships without legal status

Loans to households and non-profit institutions serving households are further broken down by loan purpose (credit for consumption, lending for house purchase, other lending). Within the category ‘other lending’, loans granted to sole proprietorships/partnerships without legal status are to be identified separately (see definitions of instrument categories in Part 2 of Annex II and definitions of sectors in Part 3 of Annex II). NCBs may waive the requirement of separate identification of loans to sole proprietorships/partnerships without legal status if such loans constitute less than 5 % of the euro area Member State’s total lending to households.

4.   Breakdown by currency

For balance sheet items that may be used in the compilation of monetary aggregates, balances in euro must be identified separately so that the ECB has the option of defining monetary aggregates in terms of balances denominated in all currencies combined or in euro alone.

5.   Breakdown by sector and residency of counterparties

5.1 The compilation of the euro area monetary aggregates and counterparts requires the identification of those counterparties located in the territory of the euro area that form the money-holding sector. For this purpose, non-MFI counterparties are divided, as set out in the revised European System of Accounts (hereinafter the ‘ESA 2010’) laid down by Regulation (EU) No 549/2013 (see Part 3 of Annex II), into general government (S.13), with central government (S.1311) identified separately in total deposit liabilities, and other resident sectors. In order to calculate a monthly sector disaggregation of the monetary aggregates and credit counterparts, other resident sectors are further broken down by the following subsectors: non-MMF investment funds (S.124), other financial intermediaries, except insurance corporations and pension funds + financial auxiliaries + captive financial institutions and money lenders (S.125 + S.126 + S.127), insurance corporations (S.128), pension funds (S.129), non-financial corporations (S.11) and households + non-profit institutions serving households (S.14 + S.15). An additional distinction is made for counterparties that are FVCs and central clearing counterparties, within the merged counterpart sectors (S.125 + S.126 + S.127). For sole proprietorships/partnerships without legal status see Section 3. With respect to total deposit liabilities and the deposit categories ‘deposits over two years agreed maturity’, ‘deposits redeemable at notice over two years’ and ‘repos’, an additional distinction is made between credit institutions, other MFI counterparties and central government for the purposes of the ECB’s minimum reserve system.

5.2 With respect to total deposit liabilities and the asset category ‘total loans’, an additional distinction is made for central banks (S.121) and deposit-taking corporations except the central bank (S.122) and for the rest of the world banks and non-banks to better understand lending and funding policies in the banking sector and to better monitor interbank activities.

5.3 With respect to intra-group positions, an additional distinction is made for loan and deposit positions and transactions between deposit taking corporations except the central bank (S.122) to allow the identification of inter-linkages between credit institutions belonging to the same group (domestic and other euro area Member States).

5.4 With respect to debt securities holdings with original maturity up to one year, with a currency breakdown, an additional distinction is made for general government (S.13) to ensure a better overview on the inter-linkages between sovereigns and banks.

5.5 Certain deposits/loans arising from repos/reverse repos or analogous operations with other financial intermediaries (S.125) + financial auxiliaries (S.126) + captive financial institutions and money lenders (S.127) may relate to transactions with a central counterparty. A central counterparty is an entity that legally interposes itself between counterparties to contracts traded in financial markets, becoming the buyer to every seller and the seller to every buyer. Because such transactions are often substitutes for bilateral business among MFIs, an additional distinction is made within the deposit category ‘repurchase agreements’ with respect to business with these counterparties. Similarly, an additional distinction is made within the asset category ‘loans’ with respect to reverse repurchase agreements with these counterparties.

5.6 Domestic counterparties are identified separately from euro area other than domestic counterparties with respect to all statistical breakdowns. Counterparties located in the euro area are identified according to their domestic sector or institutional classification in accordance with the lists maintained by the ECB for statistical purposes and the ECB’s ‘Monetary, financial institutions and markets statistics sector manual: Guidance for the statistical classification of customers’, which follows classification principles that are consistent with the ESA 2010 as far as possible. There is no requirement for a geographical breakdown of counterparties located outside the euro area.

5.7 In the case of MMF shares/units issued by MFIs of the euro area Member States, reporting agents report as a minimum data on the residency of the holders according to a domestic/euro area other than domestic/rest of the world breakdown to allow the exclusion of holdings of non-residents of the euro area. NCBs may also derive the necessary statistical information from the data collected on the basis of Regulation (EU) No 1011/2012 (ECB/2012/24), to the extent that the data comply with timeliness pursuant to Article 7 of this Regulation and with the minimum standards defined in Annex IV.

(a) As regards MMF shares/units for which, in accordance with national legislation, a record is kept identifying the holders thereof, including information on the residency of the holders, issuing MMFs or the persons legally representing them report data on the residency breakdown of the holders of their shares/units issued in the monthly balance sheet.

(b) As regards MMF shares/units for which no record is kept identifying the holders thereof, in accordance with national legislation, or for which a record is kept but it does not contain information on the residency of the holders, reporting agents report data on the residency breakdown in accordance with the approach decided by the relevant NCB in agreement with the ECB. This requirement is limited to one or a combination of the following options, to be selected having regard to the organisation of the relevant markets and the national legal arrangements in the Member State in question. This requirement will be periodically monitored by the NCB.

(i) Issuing MMFs:

Issuing MMFs or the persons legally representing them report data on the residency breakdown of the holders of their shares/units issued. Such information may come from the agent distributing the shares/units or from any other entity involved in the issue, buy-back or transfer of the shares/units.

(ii) MFIs and OFIs as custodians of MMF shares/units:

As reporting agents, MFIs and OFIs acting as custodians of MMF shares/units report data on the residency breakdown of the holders of shares/units issued by resident MMFs and held in custody on behalf of the holder or of another intermediary also acting as a custodian. This option is applicable if: (i) the custodian distinguishes MMF shares/units kept in custody on behalf of holders from those kept on behalf of other custodians; and (ii) most of the MMF shares/units are in the custody of domestic resident institutions that are classified as financial intermediaries (MFIs or OFIs).

(iii) MFIs and OFIs as reporters of transactions of residents with non-residents involving shares/units of a resident MMF:

As reporting agents, MFIs and OFIs acting as reporters of transactions of residents with non-residents involving shares/units of a resident MMF report data on the residency breakdown of the holders of shares/units issued by resident MMFs, which they trade on behalf of the holder or another intermediary also involved in the transaction. This option is applicable if: (i) the reporting coverage is comprehensive, i.e. it covers substantially all of the transactions carried out by the reporting agents; (ii) accurate data on purchases and sales with non-residents of the euro area are provided; (iii) differences between issuing value and redemption value, excluding fees, of the same shares/units are minimal; (iv) the amount of shares/units held by non-residents of the euro area issued by resident MMFs is low.

(iv) If options (i) to (ii) do not apply, the reporting agents, including MFIs and OFIs, report the relevant data on the basis of available information.

▼C1

Table 1

Monthly stocks (13) 



BALANCE SHEET ITEMS

A.  Domestic

B.  Euro area other than domestic

C.  Rest of the world

D.  Total

Total

MFIs (3)

Non-MFIs

Total

MFIs (3)

Non-MFIs

Total

Banks

Non-Banks

 

of which: Central Bank (S1.121)

of which: Deposit-taking corporations except the central bank (S1.122)

of which: credit institutions subject to RRs, ECB and NCBs

General government (S.13)

Other resident sectors

 

of which: Central Bank (S1.121)

of which: Deposit-taking corporations except the central bank (S1.122)

of which: credit institutions subject to RRs, ECB and NCBs

General government (S.13)

Other resident sectors

 

of which: Credit institutions

Central Government (S. 1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

 

of which: Credit institutions

Central Government (S. 1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

 

of which: CCP (4)

of which: FVCs

 

of which: CCP (4)

of which: FVCs

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

(k)

(l)

LIABILITIES

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

8  Currency in circulation

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9  Deposits

 

*

 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

 
 
 
 
 
 
 
 
 
 

*

 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: intra-group positions

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Transferable deposits

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: syndicated loans

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9e  Euro

 

*

 
 
 

*

 
 
 
 
 
 
 
 
 
 
 
 

*

 
 
 

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.1e  Overnight

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

of which: Transferable deposit

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.2e  With agreed maturity

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

9.3e  Redeemable at notice

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 3 months

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 3 months

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

of which: over 2 years (1)

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

9.4e  Repos

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

9x  Foreign currencies

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.1x  Overnight

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

9.2x  With agreed maturity

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

9.3x  Redeemable at notice

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 3 months

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

over 3 months

 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

*

 
 
 
 
 
 
 
 
 
 
 
 

of which: over 2 years (2)

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

9.4x  Repos

 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 
 

*

 
 
 

*

*

*

*

 
 
 
 
 
 
 
 

*

 
 
 

10  MMFs shares/units (3)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

11  Debt securities issued

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

11e  Euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

of which: up to 2 years and nominal capital guarantee below 100%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

11x  Foreign currencies

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

of which: up to 2 years and nominal capital guarantee below 100%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

12  Capital and reserves

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

13  Remaining liabilities

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 



BALANCE SHEET ITEMS

A.  Domestic

B.  Euro area other than domestic

C.  Rest of the world

D.  Total

MFIs

Non-MFIs

MFIs

Non-MFIs

 

of which: Central Bank (S.121)

of which: Deposit-taking corporations except the central bank (S.122)

General government (S.13)

Other resident sectors

 

of which: Central Bank (S. 121)

of which: Deposit-taking corporations except the central bank (S. 122)

General government (S. 13)

Other resident sectors

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

Total

Non-MMF investment funds (S. 124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S. 128)

Pension funds (S. 129)

Non-financial corporations (S. 11)

Households + non-profit institutions serving households (S. 14+S. 15)

 

of which: CCP (4)

of which: FVCs

Total

Credit for consumption

Lending for house purchase

Other lending

 

of which: CCP (4)

of which: FVCs

Total

Credit for consumption

Lending for house purchase

Other lending

 

of which: SP/P (3)

 

of which: SP/P (3)

ASSETS

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

1  Cash

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

1e  of which: euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

2  Loans

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 year and up to 5 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 5 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: intra-group positions

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: syndicated loans

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: reverse repos

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

2e  of which: euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: revolving loans and overdrafts

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: convenience credit card credit

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: extended credit card credit

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

3  Debt securities held

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

3e  Euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

3x  Foreign currencies

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

4  Equity

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

5  Investment fund shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

MMF shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Non-MMF investment fund shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

6  Non-financial assets (including fixed assets)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

7  Remaining assets

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

(1)   Cells marked with an * are used in the calculation of the reserve base. With respect to debt securities, credit institutions will either present proof of liabilities to be excluded from the reserve base or apply a standardised deduction of a fixed percentage specified by the ECB. Patterned cells are reported solely by credit institutions subject to reserve requirements (RRs). See also special rules on the application of minimum reserves in Annex III.

(2)   The reporting of this item is voluntary until further notice.

(3)   Data under this item may be subject to different statistical collection procedures, as decided by an NCB in accordance with the rules contained in Part 2 of Annex I.

(4)   Central counterparties.

▼B

PART 3

Balance sheet (quarterly stocks)

To further analyse monetary developments and to serve other statistical purposes, the ECB requires the following in respect of key items:

1. Subsector, maturity and real estate collateral breakdown of credit to euro area non-MFIs (see Table 2).

This is required to enable the monitoring of the complete subsector and maturity structure of MFIs’ overall credit financing (loans and securities) vis-à-vis the money-holding sector. For non-financial corporations and households, further ‘of which’ positions are required identifying the loans secured with real estate collateral.

For loans denominated in euro with original maturity over one and over two years vis-à-vis non-financial corporations and households, further ‘of which’ positions are required for certain remaining maturities and interest rate reset periods (see Table 2). An interest rate reset is understood as a change in the interest rate of a loan which is provided for in the current loan contract. Loans subject to interest rate reset include, inter alia, loans with interest rates which are periodically revised in accordance with the evolution of an index, e.g. Euribor, loans with interest rates which are revised on a continuous basis, i.e. floating rates, and loans with interest rates which are revisable at the MFI’s discretion.

2. Subsector breakdown of MFI deposit liabilities to the general government (other than central government) of the euro area Member States (see Table 2).

This is required as complementary information to the monthly reporting.

3. Sector breakdown of positions with counterparties outside the euro area (see Table 2).

The sector classification in accordance with the System of National Accounts (hereinafter the ‘SNA 2008’) applies where the ESA 2010 is not in force.

4. Identification of on-balance sheet positions for derivatives and accrued interest on loans and deposits within the remaining assets and remaining liabilities (see Table 2).

This breakdown is required for enhancing consistency among statistics.

5. Country breakdown, including positions vis-à-vis the European Investment Bank and the European Stability Mechanism (see Table 3).

This breakdown is required to analyse further monetary developments and also for the purposes of the transitional requirements and for data quality checks.

6. Sector breakdown for intra-euro area cross border deposits from and loans to non-MFIs (see Table 3).

This breakdown is required to assess the positions of the MFI sectors in individual Member States vis-à-vis the remaining euro area Member States.

7. Currency breakdown (see Table 4).

This breakdown is required to permit the calculation of transactions for monetary aggregates and counterparts adjusted for exchange rate changes where these aggregates include all currencies combined.

▼C1



Table 2

Quarterly stocks (Sector breakdown)

BALANCE SHEET ITEMS

A.  Domestic

B.  Euro area other than domestic

C.  Rest of the world

D.  Total

MFI

Non-MFIs

MFI

Non-MFIs

Total

Total

General government (S.13)

Other resident sectors

Total

General government (S.13)

Other resident sectors

 

Banks

Non-banks

Total

Central government (S.1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

Total

Central government (S.1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

General government

Other resident sectors

Total

State government (S.1312)

Local government (S.1313)

Social security funds (S.1314)

Total

Credit for consumption

Lending for house purchase

Other lending

Total

State government (S.1312)

Local government (S.1313)

Social security funds (S.1314)

Total

Credit for consumption

Lending for house purchase

Other lending

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

 

Real estate collateral

LIABILITIES

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

8.  Currency in circulation

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.  Deposits

 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 

9.1.  Overnight

 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

9.2.  With agreed maturity

 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

9.3.  Redeemable at notice

 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

9.4.  Repos

 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 

M

 
 
 

M

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

10.  MMFs shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

11.  Debt securities issued

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

12.  Capital and reserves

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

13.  Remaining liabilities

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: financial derivatives

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: accrued interest on deposits

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

ASSETS

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

1.  Cash

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

2.  Loans

 
 

M

 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 5 years

 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

over 5 years

 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

M

M

M

M

 

M

 
 
 
 
 
 
 
 
 
 
 

2e  Euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Loans with original maturity over 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Loans with remaining maturity of less than or equal to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Loans with remaining maturity over 1 year and with interest rate reset in the next 12 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Loans with original maturity over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Loans with remaining maturity of less than or equal to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Loans with remaining maturity over 2 years and with interest rate reset in the next 24 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

3.  Debt securities held

 
 

M

 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

4.  Equity

 
 
 
 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 
 
 
 
 
 
 
 
 
 

M

 
 
 
 

5.  Investment fund shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

MMFs shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Non-MMF investment fund shares/units

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

6.  Non-financial assets (including fixed assets)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

7.  Remaining assets

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: financial derivatives

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: accrued interest on loans

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 


M

Monthly data requirements, see Table 1.



Table 3

Quarterly stocks (Country breakdown)

BALANCE SHEET ITEMS

EU

Rest of the world (excluding EU)

Other euro area Member State

Non-euro area Member State

Selected EU institutions (1)

LIABILITIES

 
 
 
 

8.  Currency in circulation

 
 
 
 

9.  Deposits

 
 
 
 

from MFIs

 
 
 
 

from non-MFIs

 
 
 
 

general government

 
 
 
 

other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders

 
 
 
 

insurance corporations

 
 
 
 

pension funds

 
 
 
 

non-MMF investment funds

 
 
 
 

non-financial corporations

 
 
 
 

households + non-profit institutions serving households

 
 
 
 

10.  Debt securities issued

 
 
 
 

11.  MMF shares/units

 
 
 
 

12.  Capital and reserves

 
 
 
 

13.  Remaining liabilities

 
 
 
 

ASSETS

 
 
 
 

1.  Cash

 
 
 
 

2.  Loans

 
 
 
 

to MFIs

 
 
 
 

to non-MFIs

 
 
 
 

general government

 
 
 
 

other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders

 
 
 
 

insurance corporations

 
 
 
 

pension funds

 
 
 
 

non-MMF investment funds

 
 
 
 

non-financial corporations

 
 
 
 

households + non-profit institutions serving households

 
 
 
 

3.  Debt securities held

 
 
 
 

issued by MFIs

 
 
 
 

up to 1 year

 
 
 
 

over 1 year and up to 2 years

 
 
 
 

over 2 years

 
 
 
 

issued by non-MFIs

 
 
 
 

4.  Equity

 
 
 
 

5.  Investment fund shares/units

 
 
 
 

MMF shares/units

 
 
 
 

Non-MMF investment fund shares/units

 
 
 
 

6.  Non-financial assets (including fixed assets)

 
 
 
 

7.  Remaining assets

 
 
 
 

(1)   Data should be separately identified for the European Investment Bank and the European Stability Mechanism with reference to the applicable sector classification.



Table 4

Quarterly stocks (Currency breakdown)

BALANCE SHEET ITEMS

All currencies combined

Euro

EU currencies other than euro

Currencies other than EU Member State currencies combined

Total

Other EU Member State currency

GBP

Total

USD

JPY

CHF

Remaining currencies combined

LIABILITIES

 
 
 
 
 
 
 
 
 
 

9.  Deposits

 
 
 
 
 
 
 
 
 
 

A.  Domestic

 
 
 
 
 
 
 
 
 
 

from MFIs

M

M

 
 
 
 
 
 
 
 

from non-MFIs

M

 
 
 
 
 
 
 
 
 

B.  Euro area other than domestic

 
 
 
 
 
 
 
 
 
 

from MFIs

M

M

 
 
 
 
 
 
 
 

from non-MFIs

M

 
 
 
 
 
 
 
 
 

C.  Rest of the world

 
 
 
 
 
 
 
 
 
 

up to 1 year

M

 
 
 
 
 
 
 
 
 

over 1 year

M

 
 
 
 
 
 
 
 
 

from banks

Q

 
 
 
 
 
 
 
 
 

from non-banks

Q

 
 
 
 
 
 
 
 
 

10.  Debt securities issued

M

M

 
 
 
 
 
 
 
 

ASSETS

 
 
 
 
 
 
 
 
 
 

2.  Loans

 
 
 
 
 
 
 
 
 
 

A.  Domestic

 
 
 
 
 
 
 
 
 
 

to MFIs

M

 
 
 
 
 
 
 
 
 

to non-MFIs

M

M

 
 
 
 
 
 
 
 

B.  Euro area other than domestic

 
 
 
 
 
 
 
 
 
 

to MFIs

M

 
 
 
 
 
 
 
 
 

to non-MFIs

M

M

 
 
 
 
 
 
 
 

C.  Rest of the world

 
 
 
 
 
 
 
 
 
 

up to 1 year

M

 
 
 
 
 
 
 
 
 

over 1 year

M

 
 
 
 
 
 
 
 
 

to banks

Q

 
 
 
 
 
 
 
 
 

to non-banks

Q

 
 
 
 
 
 
 
 
 

3.  Debt securities held

 
 
 
 
 
 
 
 
 
 

A.  Domestic

 
 
 
 
 
 
 
 
 
 

issued by MFIs

M

M

 
 
 
 
 
 
 
 

issued by non-MFIs

M

M

 
 
 
 
 
 
 
 

B.  Euro area other than domestic

 
 
 
 
 
 
 
 
 
 

issued by MFIs

M

M

 
 
 
 
 
 
 
 

Issued by non-MFIs

M

M

 
 
 
 
 
 
 
 

C.  Rest of the world

 
 
 
 
 
 
 
 
 
 

issued by banks

Q

 
 
 
 
 
 
 
 
 

issued by non-banks

Q

 
 
 
 
 
 
 
 
 


M

Monthly data requirements, see Table 1.



Q

Quarterly data requirements, see Table 2.

▼B

PART 4

Reporting of revaluation adjustments for the compilation of transactions

To compile transactions in respect of the euro area monetary aggregates and counterparts, the ECB requires revaluation adjustments in respect of the write-offs/write-downs of loans and price revaluation of securities:

1.   Write-offs/write-downs of loans

The adjustment in respect of the write-offs/write-downs of loans is reported to allow the ECB to compile financial transactions from the stocks reported in two consecutive reporting periods. The adjustment reflects any changes in the stock of loans reported in accordance with Parts 2 and 3 caused by the application of write-downs, including the writing down of the full outstanding amount of a loan (write-off). The adjustment should also reflect the changes in provisions on loans if an NCB decides that balance sheet stocks are recorded net of provisions. Write-offs/write-downs of loans recognised at the time the loan is sold or transferred to a third party are also included, where identifiable.

The minimum requirements for write-offs/write-downs of loans are set out in Table 1A.

2.   Price revaluation of securities

The adjustment in respect of the price revaluation of securities refers to fluctuations in the valuation of securities that arise because of a change in the price at which securities are recorded or traded. The adjustment includes the changes that occur over time in the value of end-period balance sheet stocks because of changes in the reference value at which securities are recorded, i.e. potential gains/losses. It may also contain valuation changes that arise from transactions in securities i.e. realised gains/losses.

The minimum requirements for price revaluation of securities are set out in Table 1A.

No minimum reporting requirement is established for the liability side of the balance sheet. However, if valuation practices applied by reporting agents to debt securities issued result in changes to their end-period stocks, NCBs are permitted to collect data relating to such changes. Such data are reported as ‘other revaluation’ adjustments.

▼C1

Table 1A

Monthly revaluation adjustments (17) 



BALANCE SHEET ITEMS

A.  Domestic

B.  Euro area other than domestic

C.  Rest of the world

D.  Total

Total

MFIs

Non-MFIs

Total

MFIs

Non-MFIs

Total

Banks

Non-Banks

 

of which: Central Bank (S.121)

of which: Deposit-taking corporations except the central bank (S.122)

of which: credit institutions subject to RRs, ECB and NCBs

General government (S.13)

Other resident sectors

 

of which: Central Bank (S.121)

of which: Deposit-taking corporations except the central bank (S.122)

of which: credit institutions subject to RRs, ECB and NCBs

General government (S.13)

Other resident sectors

 

of which: Credit institutions

Central Government (S.1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

 

of which: Credit institutions

Central Government (S.1311)

Other general government

Total

Non-MMF investment funds (S.124)

Other financial intermediaries + financial auxiliaries + captive financial institutions and money lenders (S.125+S.126+S.127)

Insurance corporations (S.128)

Pension funds (S.129)

Non-financial corporations (S.11)

Households + non-profit institutions serving households (S.14+S.15)

 

of which: CCP (3)

of which: FVCs

 

of which: CCP (3)

of which: FVCs

(a)

(b)

(c)

(d)

(e)

(f)

(g)

(h)

(i)

(j)

(k)

(l)

LIABILITIES

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

8  Currency in circulation

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9  Deposits

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: intra-group positions

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Transferable deposits

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: syndicated loans

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9e  Euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.1e  Overnight

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: Transferable deposits

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.2e  With agreed maturity

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.3e  Redeemable at notice

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 3 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 3 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: over 2 years (2)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.4e  Repos

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9x  Foreign currencies

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.1x  Overnight

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.2x  With agreed maturity

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.3x  Redeemable at notice

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 3 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

over 3 months

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

of which: over 2 years (2)

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

9.4x  Repos

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

10  MMFs shares/units

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

 
 

* MINIMUM

11  Debt securities issued

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

11e  Euro

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

of which: up to 2 years and nominal capital guarantee below 100%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

11x  Foreign currencies

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

up to 1 year

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 1 and up to 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

of which: up to 2 years and nominal capital guarantee below 100%

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

over 2 years

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

*

12  Capital and reserves

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

13  Remaining liabilities