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Document 02010D0010(01)-20170401
Decision of the European Central Bank of 19 August 2010 on non-compliance with statistical reporting requirements (ECB/2010/10) (2010/469/EU)
Consolidated text: Decision of the European Central Bank of 19 August 2010 on non-compliance with statistical reporting requirements (ECB/2010/10) (2010/469/EU)
Decision of the European Central Bank of 19 August 2010 on non-compliance with statistical reporting requirements (ECB/2010/10) (2010/469/EU)
02010D0010(01) — EN — 01.04.2017 — 002.001
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DECISION OF THE EUROPEAN CENTRAL BANK of 19 August 2010 on non-compliance with statistical reporting requirements (ECB/2010/10) (OJ L 226 28.8.2010, p. 48) |
Amended by:
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Official Journal |
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No |
page |
date |
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DECISION (EU) 2016/244 OF THE EUROPEAN CENTRAL BANK of 18 December 2015 |
L 45 |
13 |
20.2.2016 |
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DECISION (EU) 2017/468 OF THE EUROPEAN CENTRAL BANK of 26 January 2017 |
L 77 |
1 |
22.3.2017 |
DECISION OF THE EUROPEAN CENTRAL BANK
of 19 August 2010
on non-compliance with statistical reporting requirements
(ECB/2010/10)
(2010/469/EU)
Article 1
Definitions
For the purposes of this Decision:
‘reporting agent’ has the same meaning as in Article 1 of Regulation (EC) No 2533/98;
‘monetary financial institution’ (MFI) has the same meaning as defined in point (a) of Article 1 of Regulation (EU) No 1071/2013 of the European Central Bank (ECB/2013/33) ( 1 ); and in relation to Regulation (EU) No 1333/2014 of the European Central Bank (ECB/2014/48) ( 2 ) shall be read to include all of the MFI’s Union and EFTA-located branches, unless explicitly provided otherwise in any provision of that Regulation;
‘infringement’ and ‘sanction’ have the same meaning as in Article 1 of Regulation (EC) No 2532/98;
‘serious misconduct’ includes any of the following infringements of reporting requirements by reporting agents:
systematic reporting of incorrect data;
systematic failure to comply with the minimum standards for revisions;
intentional incorrect, delayed or incomplete reporting;
insufficient degree of diligence or cooperation with the relevant NCB or the ECB;
‘competent national central bank’ (competent NCB) means the NCB of the Member State in whose jurisdiction the infringement occurred;
‘NCB deadline’ means the date and hour set by each NCB for receiving data from the reporting agents;
‘investment fund’ (IF) has the same meaning as in Article 1 of Regulation (EU) No 1073/2013 of the European Central Bank (ECB/2013/38) ( 3 );
‘post office giro institution’ (POGI) has the same meaning as in Article 1 of Regulation (EU) No 1074/2013 of the European Central Bank (ECB/2013/39) ( 4 );
‘financial vehicle corporation engaged in securitisation transactions’ (FVC) has the same meaning as in Article 1 of Regulation (EU) No 1075/2013 of the European Central Bank (ECB/2013/40) ( 5 );
‘branch’ means a place of business which forms a legally dependent part of an institution and which directly carries out all or some of the transactions inherent in the business of the institution;
‘Union and EFTA-located branch’ means a branch located and registered in a Union Member State or in an EFTA country.
Article 2
Scope of application
Article 3
Assessment phase and infringement procedure
Prior to the initiation of an infringement procedure under Regulation (EC) No 2532/98 and Regulation (EC) No 2157/1999 (ECB/1999/4):
the ECB or the competent NCB may, where it has logged non-compliance with the reporting requirements, give a warning to the reporting agent concerned informing it of the nature of the non-compliance logged, and recommend corrective measures to be taken in order to avoid repetition of the non-compliance;
the ECB or the competent NCB may ask the reporting agent concerned for any information relating to the non-compliance pursuant to Article 2(2) of Regulation (EC) No 2157/1999 (ECB/1999/4);
the reporting agent concerned shall be given an opportunity to provide explanations if it considers that the non-compliance was due to circumstances beyond its control.
Either the ECB or the competent NCB may initiate an infringement procedure in line with Article 3 of Regulation (EC) No 2532/98 and Article 5 of Regulation (EC) No 2157/1999 (ECB/1999/4). The following rules shall also apply:
an infringement procedure shall be initiated, without any assessment phase, in the case of serious misconduct;
without prejudice to point (a), an infringement procedure shall be initiated after repeated non-compliance has been logged by the competent NCB, unless:
the ECB or the competent NCB consider that no infringement procedure should be initiated as one or more of the logged cases of non-compliance is beyond the reporting agent’s control; or
the potential fine would not reach the minimum threshold for the imposition of a sanction.
Article 4
Application of sanctions
Article 4a
Response to queries
Reporting agents shall respond to questions concerning possible cases of non-compliance with statistical reporting requirements within the timeframe set by the ECB or by the relevant NCB.
Article 5
Final provision
This Decision shall enter into force on 1 September 2010. It shall apply from the reference period December 2010 for monthly and annual reporting requirements and the fourth quarter 2010 for quarterly reporting requirements.
( 1 ) Regulation (EU) No 1071/2013 of the European Central Bank of 24 September 2013 concerning the balance sheet of the monetary financial institutions sector (ECB/2013/33) (OJ L 297, 7.11.2013, p. 1).
( 2 ) Regulation (EU) No 1333/2014 of the European Central Bank of 26 November 2014 concerning statistics on the money market (ECB/2014/48) (OJ L 359, 16.12.2014, p. 97).
( 3 ) 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) (OJ L 297, 7.11.2013, p. 73).
( 4 ) Regulation (EU) No 1074/2013 of the European Central Bank of 18 October 2013 on statistical reporting requirements for post office giro institutions that receive deposits from non-monetary financial institution euro area residents (ECB/2013/39) (OJ L 297, 7.11.2013, p. 94).
( 5 ) 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) (OJ L 297, 7.11.2013, p. 107).
( 6 ) Regulation (EU) No 1072/2013 of the European Central Bank of 24 September 2013 concerning statistics on interest rates applied by monetary financial institutions (ECB/2013/34) (OJ L 297, 7.11.2013, p. 51).