Guideline (EU) 2020/1553 of the European Central Bank of 14 October 2020 amending Guideline ECB/2013/24 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts (ECB/2020/51)

Guideline ECB/2013/24 is amended as follows: (1) in Article 7, paragraph 2 is replaced by the following: ‘2. The Executive Board of the ECB shall report biennially to the Governing Council of the ECB on the quality of the quarterly financial accounts. That report shall be submitted by the Executive Board to the Governing Council by 30 June of the year following each relevant biennial period. The first biennial report shall be submitted by 30 June 2023.’; (2) in Article 7, the following paragraphs are added: (a) the following paragraph 3 is added: ‘3. The report referred to in paragraph 2 shall address at least the following: (a) the coverage of the data; (b) the extent to which they comply with the relevant definitions; and (c) the magnitude of revisions.’; (b) the following paragraph 4 is added: ‘4. Following the submission of report to the Governing Council in accordance with paragraph 2, the Executive Board may make that report, or an extract thereof, available to the public.’; (c) the following paragraph 5 is added: ‘5. Where the Executive Board observes severe data quality issues, it may provide the Governing Council with additional reports as necessary.’.

1 This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.

2 The Eurosystem central banks shall comply with this Guideline from 1 July 2021. However, they shall comply with Article 1(2)(c) of this Guideline from the day of its notification to the national central banks of the Member States whose currency is the euro.

This Guideline is addressed to all Eurosystem central banks.