7.5.2015 |
EN |
Official Journal of the European Union |
L 116/5 |
REGULATION (EU) 2015/730 OF THE EUROPEAN CENTRAL BANK
of 16 April 2015
amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2012/24) (ECB/2015/18)
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 the opinion of the European Commission (2),
Whereas:
(1) |
In order to provide the European Central Bank (ECB) with adequate statistics on the financial activities of the insurance corporation sub-sector in the Member States whose currency is the euro (hereinafter the ‘euro area Member States’), Regulation (EU) No 1374/2014 of the European Central Bank (ECB/2014/50) (3) introduced new statistical reporting requirements for insurance corporations. As a consequence, Regulation (EU) No 1011/2012 of the European Central Bank (ECB/2012/24) (4) should be amended to establish statistical reporting requirements on holdings of securities of insurance corporations. In order to minimise the reporting burden, national central banks (NCBs) should have the power to combine their reporting requirements under Regulation (EU) No 1011/2012 (ECB/2012/24) with their reporting requirements under Regulation (EU) No 1374/2014. |
(2) |
There is a close connection between the data on holdings of securities of insurance corporations collected by NCBs for statistical purposes under Regulation (EU) No 1011/2012 (ECB/2012/24) and the data collected by national competent authorities (NCAs) for supervisory purposes under the framework established by Directive 2009/138/EC of the European Parliament and of the Council (5). Article 70 of Directive 2009/138/EC provides that NCAs may transmit information intended for the performance of their tasks under that Directive to NCBs and other bodies with a similar function in their capacity as monetary authorities. Given the ECB's general mandate under Article 5.1 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) to engage in cooperation with other bodies in the field of statistics, and in order to limit the administrative burden and avoid the duplication of tasks, NCBs may derive the data required to be reported under Regulation (EU) No 1011/2012 (ECB/2012/24), to the extent possible, from data collected pursuant to Directive 2009/138/EC, including the national laws implementing that Directive, having due regard to the terms of any cooperation arrangement between the relevant NCB and the relevant NCA. |
(3) |
The European System of National and Regional Accounts set up by Regulation (EU) No 549/2013 of the European Parliament and of the Council (6) (hereinafter the ‘ESA 2010’) requires that the assets and liabilities of institutional units are reported in the country of residence. In order to minimise the reporting burden, if NCBs derive data required to be reported by insurance corporations (ICs) from data collected under Directive 2009/138/EC, the holdings of securities of branches of ICs whose head offices are resident in the European Economic Area (EEA) may be aggregated with those of the head offices. If this is the case, limited information on branches of ICs should be collected for the purposes of monitoring their size and any ensuing deviations from the ESA 2010 residence principle. |
(4) |
Therefore, Regulation (EU) No 1011/2012 (ECB/2012/24) should be amended accordingly, |
HAS ADOPTED THIS REGULATION:
Article 1
Amendments
Regulation (EU) No 1011/2012 (ECB/2012/24) is amended as follows:
1. |
in Article 1 the following definition is inserted:
(*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).’ " ; |
2. |
Article 2 is amended as follows:
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3. |
Article 3 is amended as follows:
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4. |
Article 4 is amended as follows:
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5. |
the following Article 7a is inserted: ‘Article 7a Mergers, divisions and reorganisations In the event of a merger, division or reorganisation that might affect the fulfilment of statistical obligations, the reporting agents concerned shall inform the relevant NCB, directly or via the relevant NCA in accordance with the cooperation arrangements, once the intention to implement such operation has become public and in due time before it takes effect, of the procedures that are planned in order to fulfil the statistical reporting requirements set out in this Regulation.’ |
6. |
the following Article 10a is inserted: ‘Article 10a First reporting following the entry into force of Regulation (EU) 2015/730 (ECB/2015/18) (*2) 1. The first reporting following the entry into force of Regulation (EU) 2015/730 (ECB/2015/18) shall start with data relating to the reference period March 2015, unless otherwise specified in this Article. 2. The first reporting by ICs pursuant to Article 3(1) shall start with data relating to the reference period March 2016. 3. The first reporting by custodians pursuant to Article 3(2a) shall start with data relating to the reference period March 2016. 4. The first reporting by ICs pursuant to Article 3(2b) shall start with annual data relating to the reference year 2016. (*2) Regulation (EU) 2015/730 of the European Central Bank of 16 April 2015 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2012/24) (ECB/2015/18) (OJ L 116, 7.5.2015, p. 5).’ " . |
Article 2
Amendments to Annexes I and II to Regulation (EU) No 1011/2012 (ECB/2012/24)
Annexes I and II to Regulation (EU) No 1011/2012 (ECB/2012/24) are amended in accordance with Annexes I and II to this Regulation.
Article 3
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.
This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.
Done at Frankfurt am Main, 16 April 2015.
For the Governing Council of the ECB
The President of the ECB
Mario DRAGHI
(1) OJ L 318, 27.11.1998, p. 8.
(3) 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).
(4) Regulation (EU) No 1011/2012 of the European Central Bank of 17 October 2012 concerning statistics on holdings of securities (ECB/2012/24) (OJ L 305, 1.11.2012, p. 6).
(5) 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).
(6) 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 (OJ L 174, 26.6.2013, p. 1).
ANNEX I
Annex I to Regulation (EU) No 1011/2012 (ECB/2012/24) is amended as follows:
1. |
Part 1 is amended as follows:
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2. |
Part 2 is replaced by the following: ‘PART 2 Data on own holdings of securities with an ISIN code by MFIs, IFs, FVCs, ICs and custodians For each security that has been assigned an ISIN code classified under the security category “debt securities” (F.3), “listed shares” (F.511) or “investment fund shares or units” (F.52), data for the fields in the table below are reported by financial investors belonging to the MFIs, IFs, FVCs or ICs and by custodians with reference to own holdings of securities. They are reported in accordance with the following rules and in conformity with the definitions in Annex II:
The relevant NCB may choose to require financial investors belonging to the MFIs, IFs, FVCs, ICs and custodians to report data for fields 1 and 3 instead of data in accordance with point (a). In this case, instead of data in accordance with point (b), data for fields 5 and, where requested by the relevant NCB, 7 are also reported. The relevant NCB may also choose to require financial investors belonging to the MFIs, IFs, FVCs, ICs and custodians to report data for fields 2b, 3 and 4.
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3. |
Part 3 is amended as follows:
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4. |
Part 6 is amended as follows:
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5. |
Part 7 is amended as follows:
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6. |
the following Part 8 is added: ‘PART 8 Annual reporting of own holdings of securities with an ISIN code by ICs For each security that has been assigned an ISIN code classified under the security category “debt securities” (F.3), “listed shares” (F.511) or “investment fund shares or units” (F.52), data for the fields in the table below are reported by ICs with reference to own holdings of securities, on an annual basis. They are reported in accordance with the following rules and in conformity with the definitions in Annex II:
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(1) Where available, “central government” (S.1311) “state government” (S.1312), “local government” (S.1313) and “social security funds” (S.1314) sub-sectors are reported separately indentified.
(2) The relevant NCB may require actual reporting agents to separately identify the sub-sectors “households” (S.14) and “non-profit institutions serving households” (S.15)’
(3) For aggregated data: number of units or aggregated nominal value having the same price value (see field 4).
(4) Where available, “central government” (S.1311), “state government” (S.1312), “local government” (S.1313) and “social security funds” (S.1314) sub-sectors are reported separately identified.
(5) Where available, “households” (S.14) and “non-profit institutions serving households” (S.15) sub-sectors are reported separately identified.
(6) Where available, “insurance corporations” (S.128) and “pension funds” (S.129) sectors are reported separately identified.
(7) The relevant NCB may require actual reporting agents to separately identify the sub-sectors “households” (S.14) and “non-profit institutions serving households” (S.15).’
(8) Where available, “insurance corporations” (S.128) and “pension funds” (S.129) sectors are reported separately identified.
(9) The relevant NCB may require actual reporting agents to separately identify the sub-sectors “households” (S.14) and “non-profit institutions serving households” (S.15).’
ANNEX II
Annex II to Regulation (EU) No 1011/2012 (ECB/2012/24) is amended as follows:
1. |
the table in Part 1 is replaced by the following:
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2. |
the table in Part 2 is replaced by the following:
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3. |
Part 3 is amended as follows:
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(*1) For example, in cases of mergers and acquisitions the pass-over to the absorbing corporation of financial assets and liabilities that exist between the absorbed corporation and third parties.’ ’