# Regulation (EU) No 1074/2013 of the European Central BankShow full title

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 (recast) (ECB/2013/39)         

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# 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                     

# (recast)

# (ECB/2013/39)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article                           5 thereof,                        

Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information                           by the European Central Bank(1), and in particular Articles 5(1) and 6(4),                        

Having regard to the opinion of the European Commission,

Whereas:

(1)Regulation (EC) No 1027/2006 of the European Central Bank of 14 June 2006 on statistical reporting requirements in respect                              of post office giro institutions that receive deposits from non-monetary financial institution euro area residents (ECB/2006/8)(2) needs to be substantially amended, in particular in the light of Regulation (EU) No 549/2013 of the European Parliament and                              of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union(3); therefore it should be recast in the interests of clarity.

(2)Regulation (EC) No 2533/98 provides in Article 2(1) that, for the fulfilment of its statistical reporting requirements, the                              European Central Bank (ECB), assisted by the national central banks (NCBs), shall have the right to collect statistical information                              within the limits of the reference reporting population and of what is necessary to carry out the tasks of the European System                              of Central Banks. Article 2(2)(b) further provides that post office giro institutions (POGIs) are part of the reference reporting                              population, to the extent necessary to fulfil the ECB’s statistical reporting requirements in the field of monetary and financial                              statistics.

(3)The purpose of POGI data is to provide the ECB with adequate statistics on the financial activities of the POGI subsector                              in the Member States whose currency is the euro (hereinafter the ‘euro area Member States’), which are viewed as one economic                              territory.

(4)Pursuant to Article 3(1) of 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)(4), the actual reporting population for that Regulation consists of the monetary financial institutions (MFIs) resident in the                              territory of the euro area Member States.

(5)The euro area monetary aggregates and their counterparts are derived mainly from the MFI balance sheet data collected pursuant                              to Regulation (EU) No 1071/2013 (ECB/2013/33). However, the euro area monetary aggregates include not only monetary liabilities                              of MFIs vis-à-vis non-MFI euro area residents excluding central government but also monetary liabilities of central government                              vis-à-vis non-MFI euro area residents excluding central government.

(6)In some euro area Member States, POGIs do not belong to the central government sector under the revised European System of                              Accounts (hereinafter the ‘ESA 2010’) laid down by Regulation (EU) No 549/2013, and they are not limited to receiving deposits                              solely on behalf of their national Treasuries, but may receive deposits on their own account.

(7)POGIs that receive deposits are in this respect performing similar activities to those performed by MFIs. Both types of entity                              should therefore be subject to similar statistical reporting requirements in so far as such requirements are relevant to their                              business.

(8)It is necessary to ensure harmonised treatment and to safeguard the availability of statistical information on deposits received                              by POGIs.

(9)The standards for the protection and use of confidential statistical information as laid down in Article 8 of Regulation (EC)                              No 2533/98 should apply.

(10)Article 7(1) of Regulation (EC) No 2533/98 provides that the ECB has the power to impose sanctions on reporting agents which                              fail to comply with statistical reporting requirements set out in ECB regulations or decisions,

HAS ADOPTED THIS REGULATION:

## Article 1U.K.Definitions

For the purposes of this Regulation:

‘reporting agents’ and ‘resident’ have the same meaning as defined in Article 1 of Regulation (EC) No 2533/98;

‘post office giro institution (POGI)’ means a post office that belongs to the sector ‘non-financial corporations’ (Sector                              11, ESA 2010), and, as a complement to postal services, receives deposits from non-MFI euro area residents with a view to                              providing money transfer services for its depositors;                           

‘relevant NCB’ means the NCB of the euro area Member State in which the POGI is resident.

## Article 2U.K.Actual reporting population

1.The actual reporting population shall consist of the POGIs resident in the territory of the euro area Member States.                  

2.The Executive Board may establish and maintain a list of POGIs subject to this Regulation. The NCBs and the ECB shall make                        this list and its updates accessible to the POGIs concerned in an appropriate way, including via electronic means, the Internet                        or, at the request of the POGIs concerned, in paper form. The list shall be for information only. However, in the event that                        the latest accessible version of the list is incorrect, the ECB shall not impose sanctions on any POGI that has not properly                        fulfilled its statistical reporting requirements to the extent that it relied in good faith on the incorrect list.                  

3.NCBs may grant derogations to POGIs from the requirement to report statistical information under this Regulation, provided                        that the required statistical information is already collected from other available sources. NCBs shall check the fulfilment                        of this condition in good time in order to grant or withdraw, if necessary, any derogation with effect from the start of each                        year, in agreement with the ECB.                  

## Article 3U.K.Statistical reporting requirements

1.The actual reporting population shall report monthly statistical information relating to its end-of-month balance sheet, in                        terms of stocks, to the relevant NCB.                  

2.The statistical information required under this Regulation relates to business carried out by a POGI on its own account and                        is specified in Annexes I and II.                  

3.The statistical information required under this Regulation shall be reported in accordance with the minimum standards for                        transmission, accuracy, compliance with concepts and revisions set out in Annex III.                  

4.The NCBs shall define and implement the reporting arrangements to be followed by the actual reporting population in accordance                        with national requirements. The NCBs shall ensure that these reporting arrangements provide the statistical information required                        under this Regulation and allow accurate checking of the fulfilment of the minimum standards for transmission, accuracy, compliance                        with concepts and revisions specified in Annex III.                  

## Article 4U.K.Mergers, divisions and reorganisations

In the event of a merger, division or any other reorganisation that might affect the fulfilment of its statistical obligations,                     the reporting agent concerned shall inform the relevant NCB, once the intention to implement such operation has become public                     and within a reasonable time before it takes effect, of the procedures that are planned to fulfil the statistical reporting                     requirements set out in this Regulation.                  

## Article 5U.K.Timeliness

The NCBs shall transmit the statistical information reported pursuant to Article 3(1) and (2) to the ECB by close of business                     on the 15th working day following the end of the month to which they relate. The NCBs shall decide when they need to receive                     data from reporting agents in order to meet this deadline.                  

## Article 6U.K.Accounting rules for the purpose of statistical reporting

1.Subject to paragraphs 2 and 3, the accounting rules followed by POGIs for the purposes of reporting under this Regulation                        shall be those laid down in the national transposition of Council Directive 86/635/EEC of 8 December 1986 on the annual accounts                        and consolidated accounts of banks and other financial institutions(5), as well as in any other applicable international accounting standards.                  

2.Deposit liabilities and loans shall be reported at the nominal amount outstanding at the end of the month. Deposit liabilities                        and loans shall not be netted against any other assets or liabilities.                  

3.Without prejudice to accounting practices and netting arrangements prevailing in the euro area Member States, all financial                        assets and liabilities shall be reported on a gross basis for statistical purposes.                  

4.NCBs may allow the reporting of provisioned loans net of provisions and the reporting of purchased loans at the price agreed                        at the time of their acquisition, provided that such reporting practices are applied by all resident reporting agents.                  

## Article 7U.K.Verification and compulsory collection

The NCBs shall exercise the right to verify or collect compulsorily the information which reporting agents are required to                     provide pursuant to this Regulation, without prejudice to the ECB’s right to exercise this right itself. In particular, the                     NCBs shall exercise this right when a POGI included in the actual reporting population does not fulfil the minimum standards                     for transmission, accuracy, compliance with concepts and revisions specified in Annex III.                  

## Article 8U.K.First reporting

First reporting shall begin with monthly data for December 2014.

## Article 9U.K.Repeal

1.Regulation (EC) No 1027/2006 (ECB/2006/8) is repealed with effect from 1 January 2015.                  

2.References to the repealed Regulation shall be construed as references to this Regulation and shall be read in accordance                        with the correlation table set out in Annex IV.                  

## Article 10U.K.Final provisions

This Regulation shall enter into force on the 20th day following its publication in the *Official Journal of the European Union*. It shall apply from 1 January 2015.                  

This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.

Done at Frankfurt am Main, 18 October 2013.

*For the Governing Council of the ECB*                            

*The President of the ECB*                            

Mario Draghi                            

## ANNEX IU.K.**STATISTICAL REPORTING REQUIREMENTS**

## ANNEX IIU.K.**DEFINITIONS RELATING TO THE STATISTICAL REPORTING REQUIREMENTS**

### **Consolidation for statistical purposes within the same national territory**U.K.

POGIs consolidate for statistical purposes the business of all their offices (registered or head office and/or branches) located                     within the same national territory. No consolidation for statistical purposes is permitted across national boundaries.                  

If a parent company and its subsidiaries are POGIs located in the same Member State, the parent company is permitted to consolidate                              in its statistical returns the business of these subsidiaries.                           

If a POGI has branches located within the territories of the other euro area Member States, the registered or head office                              located in a given euro area Member State must consider the positions towards all these branches as positions towards residents                              in the other euro area Member States. Conversely, a branch located in a given euro area Member State must consider the positions                              towards the registered or head office or towards other branches of the same institution located within the territories of                              the other euro area Member States as positions towards residents in the other euro area Member States.                           

If a POGI has branches located outside the territory of the euro area Member States, the registered or head office in a given                              euro area Member State must consider the positions towards all these branches as positions towards residents of the rest of                              the world. Conversely, a branch located in a given euro area Member State must consider the positions towards the registered                              or head office or towards other branches of the same institution located outside the euro Member States as positions towards                              residents of the rest of the world.                           

### **Definitions of sectors**U.K.

The ESA 2010 provides the standard for sector classification. Counterparties of POGIs located in the territory of the euro                     area Member States are identified according to their domestic sector or institutional classification in accordance with the                     lists maintained by the European Central Bank (ECB) for statistical purposes, and the guidance for the statistical classification                     of counterparties provided in the ECB’s ‘Monetary financial institutions and markets statistics sector manual: Guidance for                     the statistical classification of customers’.                  

#### *Table*

**Definitions of sectors**

### **Definitions of instrument categories**U.K.

#### 1.This table provides a detailed standard description of the instrument categories which NCBs transpose into categories applicable                        at the national level in accordance with this Regulation. The table does not constitute a list of individual financial instruments                        and the descriptions are not exhaustive. The definitions refer to the ESA 2010.U.K.

#### 2.Original maturity, i.e. maturity at issue, refers to the fixed period of life of a financial instrument before which it cannot                        be redeemed, e.g. debt securities, or before which it can be redeemed only with some kind of penalty, e.g. some types of deposits.                        The notice period corresponds to the time between the moment the holder gives notice of an intention to redeem the instrument                        and the date on which the holder is allowed to convert it into cash without incurring a penalty. Financial instruments are                        classified according to the period of notice only when there is no agreed maturity.U.K.

#### 3.Financial claims can be distinguished by whether they are negotiable or not. A claim is negotiable if its ownership is readily                        capable of being transferred from one unit to another by delivery or endorsement or of being offset in the case financial                        derivatives. While any financial instrument can be potentially traded, negotiable instruments are designed to be traded on                        an organised exchange or ‘over-the-counter’, although actual trading is not a necessary condition for negotiability.U.K.

### **Detailed description of instrument categories of the monthly aggregated balance sheet**U.K.

## ANNEX IIIU.K.**MINIMUM STANDARDS TO BE APPLIED BY THE ACTUAL REPORTING POPULATION**

Reporting agents must fulfil the following minimum standards to meet the European Central Bank’s (ECB’s) statistical reporting                     requirements.                  

### 1.Minimum standards for transmission:U.K.

reporting must be timely and within the deadlines set by the relevant NCB;

statistical reports must take the form and format from the technical reporting requirements set by the relevant NCB;

the reporting agent must provide the details of one or more contact persons to the relevant NCB;

the technical specifications for data transmission to the relevant NCBs must be followed.

### 2.Minimum standards for accuracy:U.K.

statistical information must be correct: all linear constraints must be fulfilled (e.g. assets and liabilities must balance,                              subtotals must add up to totals);                           

reporting agents must be able to provide information on the developments implied by the transmitted data;

statistical information must be complete and must not contain continuous and structural gaps; existing gaps should be acknowledged,                              explained to the relevant NCB and, where applicable, bridged as soon as possible;                           

reporting agents must follow the dimensions, rounding policy and decimals set by the relevant NCB for the technical transmission                              of the data.                           

### 3.Minimum standards for compliance with conceptsU.K.

the statistical information must comply with the definitions and classifications contained in this Regulation;

in the event of deviations from these definitions and classifications, reporting agents must monitor and quantify the difference                              between the measure used and the measure contained in this Regulation on a regular basis;                           

reporting agents must be able to explain breaks in the transmitted data compared with the previous periods’ figures.

### 4.Minimum standards for revisionsU.K.

The revisions policy and procedures set by the ECB and the relevant NCB must be followed. Revisions deviating from regular                     revisions must be accompanied by explanatory notes.                  

## ANNEX IVU.K.

### **Correlation table**

1

OJ L 318, 27.11.1998, p. 8.                           

2

OJ L 184, 6.7.2006, p. 12.                           

3

OJ L 174, 26.6.2013, p. 1.                           

4

See page 1 of this Official Journal.

5

OJ L 372, 31.12.1986, p. 1.