Regulation (EU) 2016/1384 of the European Central Bank of 2 August 2016 amending Regulation (EU) No 1011/2012 (ECB/2012/24) concerning statistics on holdings of securities (ECB/2016/22)

‘1 The actual reporting population shall consist of sectoral data reporting agents and group data reporting agents (hereinafter collectively referred to as “actual reporting agents”). (a) Sectoral data reporting agents shall be resident MFIs, IFs, FVCs, ICs and custodians. (b) Group data reporting agents shall be: (i) heads of banking groups; and (ii) institutions or financial institutions established in participating Member States and which are not part of a banking group; where they have been identified by the Governing Council pursuant to paragraph 4 as part of the actual reporting population, and notified of their reporting obligations pursuant to paragraph 5.’;

‘3 The actual reporting agents shall be subject to full reporting requirements unless any derogation granted pursuant to Articles 4, 4a or 4b applies.

4 The Governing Council may decide that a group data reporting agent is part of the actual reporting population if the value of the total balance sheet assets of the banking group referred to under paragraph 1(b)(i) or the institution or financial institution referred to under paragraph 1(b)(ii), is: (a) greater than 0,5 % of the total consolidated balance sheet assets of the Union banking groups (hereinafter the “0,5 % threshold”), according to the most recent data available to the ECB, i.e.: (i) data with reference to the end of December of the calendar year preceding notification pursuant to paragraph 5 or, if unavailable (ii) data with reference to the end of December of the previous year; or (b) equal to or below the 0,5 % threshold, provided that the group data reporting agent meets certain quantitative or qualitative criteria that make it important for the stability and functioning of the financial system in the euro area, e.g. by virtue of its interconnectedness with other financial institutions in the euro area, cross-jurisdictional activity, lack of substitutability, complexity of the corporate structure; and/or in a given euro area Member State, e.g. by virtue of the relative importance of the group data reporting agent within a particular segment of the banking services market in one or more euro area Member State.

5 The relevant NCB shall notify the group data reporting agents of the Governing Council's decision pursuant to paragraph 4, and of their obligations under this Regulation.

6 Without prejudice to Article 10, any group data reporting agent that is notified in accordance with paragraph 5 after the first reporting under this Regulation has started, shall begin reporting data no later than 6 months after the date of notification.

7 A group data reporting agent notified in accordance with paragraph 5 shall inform the relevant NCB of changes to its name or legal form, of mergers or restructurings, and of any other event or circumstances affecting its reporting obligations, within 14 days of the occurrence of such event or circumstances.

8 A group data reporting agent notified in accordance with paragraph 5 shall remain subject to the obligations set out in this Regulation until it receives notification to the contrary by the relevant NCB.’;

‘5 Sectoral data reporting agents shall, in accordance with instructions by the relevant NCB, report either (a) security-by-security data on monthly or quarterly financial transactions and, where requested by the relevant NCB, other changes in volume; or (b) the statistical information needed to derive financial transactions on the basis of one of the approaches specified in Part 1 of Chapter 1 of Annex I. Further requirements and guidelines regarding the compilation of transactions are laid down in Part 3 of Annex II.

6 Sectoral data reporting agents shall, if instructed by the relevant NCB, report on a quarterly or monthly basis data on end-of-quarter or end-of-month positions and, in accordance with paragraph 5, statistical information over the reference quarter or month, on holdings of securities without an ISIN code, in accordance with Part 7 of Chapter 1 of Annex I. This paragraph shall not apply to sectoral data reporting agents that are granted derogations under Articles 4 or 4b.’;

‘12 The relevant NCB shall request that, when an MFI reports security-by-security data on own holdings of securities with an ISIN in accordance with Article 3(1), it reports the flag “security issued by the holder”, as provided for in Part 2 of Chapter 1 of Annex I.

13 The relevant NCB may request that, when an MFI reports statistical information on own holdings of securities without an ISIN code in accordance with Article 3(6), it reports the flag “security issued by the holder” as provided in Part 7 of Chapter 1 of Annex I.’;

1 Group data reporting agents shall, on a quarterly basis, provide the relevant NCB with security-by-security data on end-quarter positions of securities which are held by them or their groups, including non-resident entities. Such data shall be reported on a gross basis, without netting out from the group holdings the securities issued by entities of the same group. Such data shall be reported in accordance with the reporting instructions laid down by the relevant NCBs. Group data reporting agents shall report data on holdings of securities, as specified in Chapter 2 of Annex I.

2 Group data reporting agents which are required to provide data pursuant to paragraph 1 shall report data on a group basis or on an entity-by-entity basis regarding the instruments held by the parent undertaking and/or its subsidiaries in accordance with the tables in Chapter 2 of Annex I.

3 The relevant NCB shall request that group data reporting agents report on a quarterly basis, the flag “issuer is part of the reporting group (prudential scope)”, on a security-by-security basis, and “issuer is part of the reporting group (accounting scope)”, on a security-by-security basis, for the securities with or without an ISIN code which are held by their group in accordance with Chapter 2 of Annex I.

4 Group data reporting agents pursuant to Article 2(1)(b)(ii), shall comply with this Regulation on the basis of the holdings of that individual institution or financial institution.

1 The reporting requirements under this Regulation, including any derogations therefrom, shall be without prejudice to the reporting requirements set out in: (a) Regulation (EU) No 1073/2013 of the European Central Bank (ECB/2013/38) ; (b) Regulation (EU) No 1075/2013 of the European Central Bank (ECB/2013/40) ; and (c) Regulation (EU) No 1374/2014 of the European Central Bank (ECB/2014/50).

2 Security-by-security data on end-of-quarter or end-of-month positions and, in accordance with Article 3(5), statistical information over the reference quarter or month, shall be reported in accordance with Parts 1, 2, 4, 5, 6, 7 and 8 of Annex II, and with the accounting rules referred to in Articles 5, 5a and 5b.

1 NCBs may grant derogations to group data reporting agents from the reporting requirements set out in Article 3a as follows: (a) NCBs may allow group data reporting agents to report on a security-by-security basis statistical information covering 95 % of the amount of securities held by them or their group, in accordance with this Regulation, provided that the remaining 5 % of securities held by the group was not issued by a single issuer; (b) NCBs may request group data reporting agents to provide further information on the types of securities for which a derogation is granted under point (a).

2 NCBs may grant derogations from the reporting requirements to group data reporting agents with respect to the flag “issuer is part of the reporting group (prudential scope)”, on a security-by-security basis, as set out in Article 3a(3), provided that the NCBs are able to derive these data from data collected from other sources.

3 For a period of 2 years from the first reporting in accordance with Article 10b(2), NCBs may grant derogations from the reporting requirements to group data reporting agents with respect to the reporting on entity-by-entity basis set out in Chapter 2 of Annex I for entities resident outside the Union provided that the NCBs are able to derive the information in Chapter 2 of Annex I for the entities resident outside the Union as a whole.

1 NCBs may grant derogations from the reporting requirements under this Regulation if the actual reporting agents report the same data under: (a) Regulation (EU) No 1071/2013 of the European Central Bank (ECB/2013/33) ; (b) Regulation (EU) No 1073/2013 (ECB/2013/38); (c) Regulation (EU) No 1075/2013 (ECB/2013/40); or (d) Regulation (EU) No 1374/2014 (ECB/2014/50); or if NCBs are able to derive the same data by other means, in accordance with the minimum statistical standards specified in Annex III.

2 NCBs shall ensure that the conditions set out under this Article, Article 4 and 4a are complied with for the purposes of granting, renewing or withdrawing, as applicable and when necessary, any derogation with effect from the start of each calendar year.

3 NCBs may make actual reporting agents, which have been granted derogations under this Article, Article 4 or Article 4a subject to additional reporting requirements, where further detail is deemed necessary by the NCBs. Actual reporting agents shall report the data requested within 15 working days of a request made by the relevant NCB.

4 Where derogations have been granted by NCBs, actual reporting agents may nonetheless fulfil the full reporting requirements. An actual reporting agent that opts not to avail of derogations granted by the relevant NCB shall obtain that NCB's consent prior to availing of the derogations granted at a later date.

1 Without prejudice to national accounting practices, group data reporting agents shall report holdings of securities at the valuations indicated in Parts 4 and 8 of Annex II.

2 Without prejudice to national accounting practices and netting arrangements, group data reporting agents shall report holdings of securities on a gross basis for statistical purposes. In particular, holdings of securities by the group data reporting agents issued by the reporting agent itself and holdings of securities by the individual legal entities in the reporting group identified under Article 2(4) and issued by the entities themselves shall also be reported.

1 Unless otherwise provided for in this Regulation, the accounting rules followed by the actual reporting agents for the purposes of reporting under this Regulation shall be those laid down in the national transposition of Council Directive 86/635/EEC or, if this is inapplicable, in any other national or international standards that apply to the actual reporting agents.

2 Holdings of securities lent out under securities lending operations, or sold under repurchase agreements, shall be recorded as holdings by the original owner, and not as holdings of the party temporarily acquiring them, where there is a firm commitment to reverse the operation, as opposed to an option to do so. Where the party temporarily acquiring the securities sells them, such a sale shall be recorded as an outright transaction in securities and reported by the party temporarily acquiring them as a negative position in the relevant securities portfolio.

NCBs shall transmit to the ECB: (a) quarterly security-by-security sectoral data in accordance with paragraphs (1), (2), (2a) and (5) of Article 3 by 18.00 CET on the 70th calendar day following the end of the quarter to which the data relate; or (b) monthly security-by-security sectoral data in accordance with Article 3(5) and Part 1 of Chapter 1 of Annex I, in accordance with (i) or (ii) below: (i) on a quarterly basis for the 3 months of the reference quarter, by 18.00 CET on the 63rd calendar day following the end of the quarter to which the data relate; or (ii) on a monthly basis for each month of the reference quarter, by 18.00 CET on the 63rd calendar day following the end of the month to which the data relate.’;

NCBs shall transmit to the ECB quarterly security-by security group data in accordance with Article 3a(1) and Chapter 2 of Annex I by 18.00 CET on the 55th calendar day following the end of the quarter to which the data relate.

1 NCBs shall decide by when they need to receive data from actual reporting agents to be able to perform the necessary quality control procedures and to meet the deadlines in Articles 6 and 6a.

2 Where a deadline referred to in Articles 6 or 6a falls on a TARGET2 closing day, the deadline shall be extended to the following TARGET2 operating day, as published on the ECB's website.’;

1 The first reporting of sectoral data pursuant to Article 3 shall start with data for the reference period September 2018.

2 The first reporting of group data pursuant to Article 3a shall start with data for the reference period September 2018.

This Regulation shall enter into force on 1 October 2018.