Guideline (EU) 2020/1554 of the European Central Bank of 14 October 2020 amending Guideline ECB/2011/23 with regard to the frequency of reporting to the European Central Bank on the quality of external statistics (ECB/2020/52)

Guideline ECB/2011/23 is amended as follows: (1) in Article 6, paragraph 1 is replaced by the following: ‘1. Without prejudice to the ECB’s monitoring tasks as laid down in Annex V, the NCBs shall, in cooperation with other competent authorities as mentioned in Article 4 where relevant, ensure the monitoring and the assessment of the quality of statistical information made available to the ECB. The ECB assesses these data in a similar and timely manner. The Executive Board of the ECB shall report biennially to the Governing Council of the ECB on the quality of the external statistics made available to the ECB. That report shall be submitted by the Executive Board to the Governing Council by the end of the year following each relevant biennial period. The first biennial report shall be submitted by the end of 2022. The Executive Board may make that report, or an extract thereof, available to the public.’; (2) in Article 6, the following paragraph 5 is added: ‘5. From 1 January 2022, where the Executive Board observes severe data quality issues, it may provide the Governing Council with additional reports as necessary.’; (3) Annex III is amended in accordance with the Annex to this Guideline.

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.

This Guideline is addressed to all Eurosystem central banks.