(1)

Article 5(2) of Guideline (EU) 2019/1265 of the European Central Bank (ECB/2019/19) (1) provides that national central banks (NCBs) having one or more reporting agents resident in their Member State are required to carry out the euro short-term rate determination process and post-production procedures in accordance with the business procedures referred to in Article 6(3) of that Guideline. In the interests of the efficient allocation of resources, it is, however, appropriate that the ECB should carry out those tasks on behalf of NCBs which have only one reporting agent resident in their Member State and do not operate a local collection platform.

(2)

To enhance the user-friendliness of the complaints procedure set out in Article 11 of Guideline (EU) 2019/1265 (ECB/2019/19), the possibility for electronic submission of complaints should be introduced.

(3)

Therefore, Guideline (EU) 2019/1265 (ECB/2019/19) should be amended accordingly,

1.

in Article 5, the following paragraph 2a is inserted:

2.

In Article 11, paragraph 1 is replaced by the following:

(1)

The European Central Bank (ECB) maintains the Register of Institutions and Affiliates Data (RIAD). RIAD is the shared dataset of reference data on legal and other statistical institutional units, the collection of which supports business processes across the Eurosystem and the performance of the tasks of the European System of Central Banks (ESCB) and the specific tasks related to prudential supervision conferred on the ECB pursuant to Regulation (EU) No 1024/2013 carried out within the Single Supervisory Mechanism (SSM) composed of the ECB and the NCAs (‘supervisory tasks’). RIAD facilitates the integration of a variety of datasets, in particular by providing common identifiers.

(2)

RIAD contains a wide range of attributes on individual entities and relationships between such entities that enable the derivation of group structures. These structures may be composed differently for accounting and prudential consolidation purposes. This information is used to support a number of processes and business areas, e.g. collateral and risk management, financial stability and micro-prudential supervision.

(3)

Guideline (EU) 2018/876 of the European Central Bank (ECB/2018/16) (2) establishes the obligations of NCBs with respect to the reporting of reference data to, and the maintenance and data quality management of, RIAD, for the purpose of ESCB tasks, and sets out the governance framework. The aim of this Guideline is to complement it, establishing the responsibilities of each NCA to record, update and validate reference data reported to the ECB for the purpose of supervisory tasks, in line with the duty of cooperation in good faith and the obligation to exchange information established in Article 6(2) of Regulation (EU) No 1024/2013 and further specified in Article 21 of Regulation (EU) No 468/2014 of the European Central Bank (ECB/2014/17) (3). For greater efficiency and to minimise the reporting burden, the data collection within the SSM under these provisions follows what is known as a ‘sequential approach’, i.e. both significant and less significant credit institutions submit their data to NCAs, which then report to the ECB.

(4)

Pursuant to Article 3(2) of Guideline (EU) 2018/876 (ECB/2018/16), each national central bank (NCB) must establish a local RIAD hub, which acts as the unique point of contact for reference data matters relating to RIAD in the Member State and coordinates activity, inter alia, with NCAs at national level to ensure the accuracy, timeliness and consistency of reference data and to ensure the consistent use of identifiers for entities. Recommendation ECB/2018/36 (4) invites NCBs of the Member States whose currency is not the euro to apply the provisions of Guideline (EU) 2018/876 (ECB/2018/16) addressed to NCBs of Member States whose currency is the euro. This Guideline accordingly establishes the responsibilities of each NCA to liaise with the NCB in its participating Member State.

(5)

Reference data recorded in RIAD remain subject to the specific legal provisions relating to confidentiality which apply to them and to their collection from entities by the NCAs. The ECB’s use of confidential information collected for the purpose of ESCB tasks and supervisory tasks is subject to the application of the principle of separation in accordance with Article 25 of Regulation (EU) No 1024/2013 and Decision ECB/2014/39 (5).

(6)

Accurate, timely and comprehensive reference data on entities and the relationships between them are necessary for the performance of supervisory tasks. Hence, it is necessary to consolidate the requirements relating to data collection, quality management and dissemination under this Guideline, addressed to the NCAs, as regards the supervisory tasks, to complement those already consolidated in Guideline (EU) 2018/876 (ECB/2018/16) as regards the ESCB tasks,

(1)

‘entity’ means any of the following:

(2)

‘participating Member State’ means participating Member State as defined in point 1 of Article 2 of Regulation (EU) No 1024/2013;

(3)

‘non-participating Member State’ means a Member State that is not a participating Member State;

(4)

‘national competent authority’ or ‘NCA’ means national competent authority as defined in point 2 of Article 2 of Regulation (EU) No 1024/2013;

(5)

‘reference data’ means the set of attributes of an individual entity and its relationships with other entities, as listed in Annexes I and II, or any one or more attributes or relationships in that set;

(6)

‘credit institution’ means credit institution as defined in point 1 of Article 4(1) of Regulation (EU) No 575/2013;

(7)

‘group’ means group as defined in point 5 of Article 2 of Regulation (EU) No 468/2014 (ECB/2014/17);

(8)

‘resident’ means resident as defined in point 4 of Article 1 of Council Regulation (EC) No 2533/98 (7);

(9)

‘compounding rule’ means compounding rule as defined in point 17 of Article 2 of Guideline (EU) 2018/876 (ECB/2018/16);

(10)

‘RIAD hub’ means RIAD hub as defined in point 18 of Article 2 of Guideline (EU) 2018/876 (ECB/2018/16);

(11)

‘working day’ means working day as defined in point 20 of Article 2 of Guideline (EU) 2018/876 (ECB/2018/16);

(12)

‘control’ means control as defined in point 37 of Article 4(1) of Regulation (EU) No 575/2013;

(13)

‘Legal Entity Identifier’ or ‘LEI’ means an alphanumeric reference code in line with the ISO 17442 standard (8).