# Regulation (EU) No 1409/2013 of the European Central BankShow full title

Regulation (EU) No 1409/2013 of the European Central Bank of 28 November 2013 on payments statistics (ECB/2013/43)

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U.K.

# Regulation (EU) No 1409/2013 of the European Central Bank

# of 28 November 2013

# on payments statistics

# (ECB/2013/43)

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) thereof,                        

Having regard to the opinion of the European Commission,

Whereas:

(1)The European Central Bank (ECB) requires country-specific and comparative payments statistics to fulfill its tasks. Article                              2(1) of Regulation (EC) No 2533/98 provides that information may be collected in the area of payments and payment systems                              statistics. These data are essential for identifying and monitoring developments in the payments markets within the Member                              States, and for assisting in the promotion of the smooth operation of payment systems.

(2)Article 5.1 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute                              of the ESCB’) requires the ECB, assisted by the national central banks (NCBs), to collect the necessary statistical information                              either from the competent national authorities or directly from economic agents in order to undertake the tasks of the European                              System of Central Banks (ESCB). Article 5.2 of the Statute of the ESCB requires NCBs to carry out, to the extent possible,                              the tasks described in Article 5.1.

(3)The Eurosystem collects payments information pursuant to Guideline ECB/2007/9(2). In the interest of increasing the quality and reliability of payments statistics and ensuring full coverage of the reporting                              population, the relevant information should be collected directly from reporting agents.

(4)The methodology according to which payments information is collected should take account of the developments in the legal                              framework for payments within the European Union, in particular, Directive 2007/64/EC of the European Parliament and of the                              Council(3), Directive 2009/110/EC of the European Parliament and of the Council(4) and Article 5 of of Regulation (EC) No 924/2009 of the European Parliament and of the Council(5).

(5)It may be appropriate for NCBs to collect from the actual reporting population the statistical information necessary to fulfil                              the ECB’s statistical requirements as part of a broader statistical reporting framework which the NCBs establish under their                              own responsibility in accordance with Union or national law or established practice and which also serves other statistical                              purposes, provided that the fulfilment of the ECB’s statistical requirements is not jeopardised. This may also reduce the                              reporting burden. In order to foster transparency, it is appropriate, in these cases, to inform the reporting agents that                              data are also collected to fulfil other statistical purposes. In specific cases, the ECB may rely on statistical information                              collected for such other purposes to fulfil its requirements.

(6)While it is recognised that regulations adopted by the ECB under Article 34.1 of the Statute of the ESCB do not confer any                              rights or impose any obligations on Member States whose currency is not the euro (hereinafter the ‘non-euro area Member States’),                              Article 5 of the Statute of the ESCB applies to both Member States whose currency is the euro (hereinafter the ‘euro area                              Member States’) and non-euro area Member States. Recital 17 of Regulation (EC) No 2533/98 refers to the fact that Article                              5 of the Statute of the ESCB, together with Article 4(3) of the Treaty on European Union, implies an obligation to design                              and implement at national level all the measures that the non-euro area Member States consider appropriate in order to carry                              out the collection of the statistical information needed to fulfil the ECB’s statistical reporting requirements and timely                              preparations in the field of statistics in order for them to become euro area Member States. Consequently, provisions of this                              Regulation may be extended to apply to the NCBs of non-euro area Member States by means of such NCBs cooperating with the                              Eurosystem on the basis of an ECB recommendation.

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

(8)It is necessary to set up a procedure to carry out technical amendments to the annexes to this Regulation in an effective                              manner, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden.                              Account will be taken of the views of the Statistics Committee (STC) of the ESCB when following this procedure. NCBs and other                              ESCB Committees may propose such technical amendments to the annexes through the STC,

HAS ADOPTED THIS REGULATION:

## Article 1U.K.Definitions

For the purposes of this Regulation:

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

‘payment service’, ‘payment service provider’, ‘payment institution’ and ‘payment system’ have the same meaning as defined                              in Article 4 of Directive 2007/64/EC;                           

‘electronic money issuer’ and ‘electronic money institution’ have the same meaning as defined in Article 2 of Directive 2009/110/EC;

‘payment system operator’ means a legal entity that is legally responsible for operating a payment system.

## Article 2U.K.Actual reporting population

1.The actual reporting population shall consist of payment service providers (including electronic money issuers) and/or payment                        system operators.                  

2.The reporting agents shall be subject to full statistical reporting requirements.                  

## Article 3U.K.Statistical reporting requirements

1.The actual reporting population shall report the statistical information to the NCB of the Member State in which the reporting                        agent is resident, as specified in Annex III and taking into consideration the clarifications and definitions provided in                        Annexes I and II.                  

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

## Article 4U.K.Derogations

1.NCBs may grant derogations to reporting agents in respect of part or all of the reporting requirements set out in this Regulation:                  

(a)in the case of payment institutions, if they fulfil the conditions laid down in Article 26(1) and (2) of Directive 2007/64/EC;                  

(b)in the case of electronic money institutions, if they fulfil the conditions laid down in Article 9(1) and (2) of Directive                        2009/110/EC;                  

(c)in the case of other payment service providers not mentioned in points (a) and (b), if they fulfil either the conditions laid                        down in Article 9(1) and (2) of Directive 2009/110/EC or in Article 26(1) and (2) of Directive 2007/64/EC.                  

2.NCBs may only grant derogations to reporting agents under paragraph 1 if these reporting agents do not contribute to a statistically                        significant coverage, at national level, of payment transactions for each type of payment service.                  

3.NCBs may grant derogations to reporting agents in respect of reporting transactions with non-MFIs, where: (a) the combined                        value of services specified in Table 4 of Annex III contributed by reporting agents benefiting from such derogation does not                        exceed 5 % at national level for each of such services; and (b) the reporting burden would otherwise be disproportionate in                        view of the size of such reporting agents.                  

4.If an NCB grants a derogation pursuant to paragraph 1 or 3, it shall notify the ECB thereof at the same time as it reports                        information pursuant to Article 6(1).                  

5.The ECB shall publish a list of entities granted derogations by the NCBs.                  

## Article 5U.K.List of payment service providers and payment system operators for statistical purposes

1.The Executive Board shall establish and maintain a list of payment service providers, including electronic money issuers,                        and payment system operators subject to this Regulation. The list will be based on existing lists of supervised payment service                        providers and payment system operators established by national authorities, where such lists are available.                  

2.The NCBs and the ECB shall make the list referred to in paragraph 1, and its updates, accessible to the reporting agents concerned                        in an appropriate way, including by electronic means, via the Internet or, at the request of the reporting agents concerned,                        in paper form.                  

3.The list referred in paragraph 1 shall be for information only. However, in the event that the latest accessible electronic                        version of the list referred to in paragraph 1 is incorrect, the ECB shall not impose sanctions on any entity that did not                        properly fulfil its reporting requirements to the extent that it relied in good faith on the incorrect list.                  

## Article 6U.K.Timeliness

1.Statistical information, as specified in Annex III, shall be transmitted by the NCBs to the ECB on an annual basis by close                        of business on the last working day of May following the end of the year to which it relates.                  

2.NCBs shall decide when and with which periodicity they need to receive data from reporting agents in order to meet their reporting                        deadline to the ECB, and shall inform the reporting agents accordingly                  

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

The NCBs shall exercise the right to verify or to 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 reporting agent does not fulfil the minimum standards for transmission, accuracy,                     compliance with concepts and revisions specified in Annex IV.                  

## Article 8U.K.First reporting

By way of derogation from Article 6, first reporting pursuant to this Regulation shall start in June 2015 with statistical                     information relating to the reference period of the second half of the calendar year 2014 (i.e. as of July 2014).                  

## Article 9U.K.Simplified amendment procedure

Taking account of the STC’s views, the Executive Board shall be entitled to make technical amendments to the annexes to this                     Regulation, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden.                     The Executive Board shall inform the Governing Council of any such amendment without undue delay.                  

## Article 10U.K.Final provision

This Regulation shall enter into force on the 20th day following its publication in the *Official Journal of the European Union*.                  

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, 28 November 2013.

*For the Governing Council of the ECB*                            

*The President of the ECB*                            

Mario Draghi                            

## ANNEX IU.K.**GENERAL STRUCTURE OF PAYMENTS STATISTICS**

## PART 1U.K.OVERVIEW

## **Part 1.1**U.K.**Overview of tables**

### 1.Payments statistics are compiled by the European Central Bank (ECB) through specific harmonised data collection managed at                        national level by each national central bank (NCB). The data compilation is structured in the form of seven tables as described                        below containing national data on each Member State whose currency is the euro (hereinafter a ‘euro area Member State’) that                        are later combined in comparative tables covering all euro area Member States.U.K.

## **Part 1.2**U.K.**Type of information**

### 1.Stock data, as contained in Tables 1, 2, 3 and 6, refer to end-of-period, i.e. positions on the last working day of the reference                        calendar year. The indicators on the outstanding value on e-money storages issued are compiled in euro and relate to payment                        storages denominated in all currencies.U.K.

### 2.Flow data, as contained in Tables 4, 5 and 7, relate to payment transactions accumulated throughout the period, i.e. total                        for the reference calendar year. The indicators on the value of transactions are compiled in euro and relate to payment transactions                        denominated in all currencies.U.K.

## **Part 1.3**U.K.**Consolidation within the same national territory**

### 1.For each euro area Member State, the reporting population consists of PSPs and/or payment system operators.U.K.

### 2.PSPs are institutions incorporated and located in that territory, including subsidiaries of parent companies located outside                        that territory, and branches of institutions that have their head office outside that territory.U.K.

Subsidiaries are separate incorporated entities in which another entity has a majority or full holding.

Branches are unincorporated entities without independent legal status wholly owned by the parent.

### 3.For statistical purposes, the following principles apply for consolidation of PSPs within national boundaries:U.K.

If a parent company and its subsidiaries are PSPs located in the same national territory, the parent company is permitted                              in its statistical returns to consolidate the business of these subsidiaries. This is only applicable in the event that the                              parent company and its subsidiaries are classified as the same type of PSP.                           

If an institution 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 considers these branches as residents in the other euro area Member States.                              Conversely, a branch located in a given euro area Member State considers the registered or head office or other branches of                              the same institution located within the territories of the other euro area Member States as residents in the other euro area                              Member States.                           

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

### 4.For statistical purposes, consolidation of PSPs across national boundaries is not permitted.U.K.

### 5.If a payment system operator is responsible for several payment systems located in the same national territory, statistics                        for each payment system are reported separately.U.K.

### 6.Institutions located in offshore financial centres are treated for statistical purposes as residents of the territories in                        which the centres are located.U.K.

## PART 2U.K.SPECIFIC FEATURES IN TABLES 2 TO 7

## **Part 2.1**U.K.**Payment card functions (Table 2)**

### 1.If a ‘card with a payment function (except cards with an e-money function only)’ offers several functions, it is counted in                        each applicable sub-category. Therefore, the total number of cards with a payment function, may be smaller than the sum of                        the sub-categories. To avoid double-counting, sub-categories should not be added up.U.K.

### 2.A ‘card with an e-money function’ can be either a ‘card on which e-money can be stored directly’ or a ‘card which gives access                        to e-money stored on e-money accounts’. Therefore, the total number of cards with an e-money function is the sum of the two                        sub-categories.U.K.

### 3.The total number of cards issued by resident PSPs is stated separately in ‘total number of cards (irrespective of the number                        of functions on the card)’. This indicator may not necessarily be the sum of ‘cards with a cash function’, ‘cards with a payment                        function’ and ‘cards with an e-money function’, as these categories may not be mutually exclusive.U.K.

### 4.The indicator ‘card with a combined debit, cash and e-money function’ refers to a card issued by a PSP, which has a combined                        cash, debit and e-money function. In addition, it is reported in each of the sub-categories:U.K.

‘cards with a cash function’;

‘cards with a debit function’;

‘cards with an e-money function’.

### 5.If a card with a combined function offers additional functions, it is also reported in the relevant sub-category.U.K.

### 6.Cards are counted on the card-issuing side regardless of the cardholder’s residency or the location of the account to which                        the card is linked.U.K.

### 7.Each country reports the number of cards that have been issued by PSPs resident in the country, irrespective of whether the                        card is co-branded or not.U.K.

### 8.Cards in circulation are included irrespective of when they were issued or whether they were used.U.K.

### 9.Cards issued by card schemes, i.e. three-party or four-party schemes, are included.U.K.

### 10.Expired or withdrawn cards are not included.U.K.

### 11.Cards issued by merchants, i.e. retailer cards, are not included, unless they have been issued in cooperation with a PSP,                        i.e. they are co-branded.U.K.

## **Part 2.2**U.K.**Payment card accepting devices (Table 3)**

### 1.All terminals provided by resident PSPs are reported, including all terminals located in the reporting country and terminals                        located outside of the reporting country.U.K.

### 2.The entity which provides terminals is the acquirer, regardless of the ownership over the terminals. Therefore, only terminals                        provided by the acquirer are counted.U.K.

### 3.Terminals provided by branches and/or subsidiaries of the PSP located abroad are not reported by the parent PSP, but by the                        branches and/or subsidiaries themselves.U.K.

### 4.Every terminal is counted individually even if several terminals of the same type exist at one merchant location.U.K.

### 5.If an ATM offers more than one function, it is counted in each applicable sub-category. Therefore, the total number of ATMs                        may be smaller than the sum of the sub-categories. To avoid double-counting, sub-categories should not be added up.U.K.

### 6.POS terminals are split into two sub-categories: ‘EFTPOS terminals’ and ‘e-money card terminals’. These sub-categories should                        not be added up, as they are ‘of which’ and would not equate to the total.U.K.

### 7.If an e-money card terminal offers more than one function, it is counted in each applicable sub-category. Therefore, the total                        number of e-money card terminals may be smaller than the sum of the sub-categories. To avoid double-counting, sub-categories                        should not be added up.U.K.

## **Part 2.3**U.K.**Payment transactions involving non-MFIs (Table 4)**

### 1.Payment transactions are initiated by non-MFIs to any counterparty or by PSPs if the counterparty is a non-MFI. This includes:U.K.

payment transactions which take place between two accounts held at different PSPs and which are executed with the use of an                              intermediary, i.e. where payments are sent to another PSP or to a payment system; and                           

payment transactions which take place between two accounts held at the same PSP, e.g. on-us transactions, with the transaction                              being settled either on the accounts of the PSP itself, or with the use of an intermediary, i.e. another PSP or a payment                              system.                           

### 2.Payment transactions initiated by a resident PSP and executed with a specific transaction order, i.e. with the use of a payment                        instrument, are included as ‘transactions per type of payment service’.U.K.

### 3.Fund transfers between accounts in the same name, and also between different types of accounts are included according to the                        payment service used. Transfers between different types of accounts include, for example, transfers from a transferable deposit                        to an account holding a non-transferable deposit.U.K.

### 4.In relation to bulk payment transactions, each individual payment transaction is counted.U.K.

### 5.Payment transactions denominated in foreign currency are included. Data are converted into euro using the ECB reference exchange                        rate or exchange rates applied for these transactions.U.K.

### 6.Payment transactions initiated by a resident PSP and executed without a specific transaction order, i.e. without the use of                        a payment service, by simple book entry on the account of a non-MFI, are not included. If they cannot be distinguished, such                        transactions are included as ‘transactions per type of payment service’.U.K.

### *Total payment transactions*U.K.

#### 7.The indicator ‘total payment transactions involving non-MFIs’ is the sum of the six mutually exclusive sub-categories: ‘credit                        transfers’, ‘direct debits’, ‘card payments with cards issued by resident PSPs (except cards with an e-money function only)’,                        ‘e-money payment transactions’, ‘cheques’ and ‘other payment services’.U.K.

### *Credit transfers*U.K.

#### 8.Each transaction is allocated to only one sub-category, i.e. either ‘initiated in paper-based form’ or ‘initiated electronically’.                        As the sub-categories are mutually exclusive, the total number of credit transfers is the sum of the sub-categories. The same                        principle applies to the total value of credit transfers.U.K.

#### 9.Credit transfers reported under ‘initiated electronically’ are further split into ‘initiated in a file/batch’ and ‘initiated                        on a single payment basis’. As the sub-categories are mutually exclusive, the total number of credit transfers initiated electronically                        is the sum of the sub-categories. The same principle applies to the total value of credit transfers initiated electronically.U.K.

#### 10.Includes credit transfers performed via ATMs with a credit transfer function.U.K.

#### 11.Transactions involving cash at one or both ends of the payment transaction, and using a credit transfer payment service, are                        also included as credit transfers.U.K.

#### 12.Credit transfers used to settle outstanding balances of transactions using cards with a credit or delayed debit function are                        also included.U.K.

#### 13.Credit transfers includes all Single Euro Payments Area (SEPA) credit transfers as well as non-SEPA transactions. Non-SEPA                        transactions are also reported in the sub-category ‘non-SEPA’.U.K.

#### 14.The sub-categories ‘initiated in a file or batch’ and ‘initiated on a single payment basis’ contain all SEPA and non-SEPA                        transactions.U.K.

#### 15.‘Domestic transactions sent’, ‘cross-border transactions sent’ and ‘cross-border transactions received’ contain both SEPA                        and non-SEPA transactions.U.K.

#### 16.Cash payments to an account using a bank form are not included under credit transfers.U.K.

### *Direct debits*U.K.

#### 17.Both one-off and recurrent direct debits are included. In the case of recurrent direct debits, each individual payment is                        counted as one transaction.U.K.

#### 18.Direct debits used to settle outstanding balances resulting from transactions using cards with a credit or delayed debit function                        are included, as these are separate payments from the cardholder to the card issuer.U.K.

#### 19.Direct debits are further split into ‘initiated in a file/ batch’ and ‘initiated on a single payment basis’. As the sub-categories                        are mutually exclusive, the total number of direct debits is the sum of the sub-categories. The same principle applies to                        the total value of direct debits.U.K.

#### 20.Direct debits includes all SEPA direct debits as well as non-SEPA transactions. Non-SEPA transactions are also reported in                        the sub-category ‘non-SEPA’.U.K.

#### 21.The sub-categories ‘initiated in a file or batch’ and ‘initiated on a single payment basis’ contain all SEPA and non-SEPA                        transactions.U.K.

#### 22.‘Domestic transactions sent’, ‘cross-border transactions sent’ and ‘cross-border transactions received’ contain both SEPA                        and non-SEPA transactions.U.K.

#### 23.Cash payments from an account using a bank form are not included under direct debits.U.K.

### *Card payments*U.K.

#### 24.Payment transactions with cards issued by resident PSPs are reported, regardless of the location of the brand under which                        the payment transaction has been made.U.K.

#### 25.Transactions reported by payment service includes data on card transactions at virtual points of sale, e.g. over the internet                        or the telephone.U.K.

#### 26.Payment transactions are performed using cards with a debit, credit or delayed debit function at a terminal or via other channels.                        The following breakdown of card payment transactions are reported:U.K.

‘payments with cards with a debit function’;

‘payments with cards with a delayed debit function’;

‘payments with cards with a credit function’;

‘payments with cards with a debit or delayed debit function’;

‘payments with cards with a credit or delayed debit function’.

#### 27.The sub-categories ‘payments with cards with a debit or delayed debit function’ and ‘payments with cards with a credit or                        delayed debit function’ are only reported if the specific card function cannot be identified.U.K.

#### 28.Each transaction is allocated to only one sub-category. As the sub-categories are mutually exclusive, the total number of                        card payments is the sum of the sub-categories. The same principle applies to the total value of card payments.U.K.

#### 29.Payment transactions with cards are also split into ‘initiated at a physical EFTPOS’ and ‘initiated remotely’. As the sub-categories                        are mutually exclusive, the total number of card payments is the sum of the sub-categories. The same principle applies to                        the total value of card payments.U.K.

#### 30.Card payments with cards issued by resident PSPs which only have an e-money function are not included.U.K.

### *E-money payment transactions*U.K.

#### 31.Each transaction is allocated to only one sub-category, i.e. ‘with cards on which e-money can be stored directly’ or ‘with                        e-money accounts’. As the sub-categories are mutually exclusive, the total number of e-money payment transactions is the sum                        of the sub-categories. The same principle applies to the total value of e-money payment transactions.U.K.

#### 32.Transactions under ‘with e-money accounts’ are further split to provide information on those ‘accessed through a card’.U.K.

### *Cheques*U.K.

#### 33.Cash withdrawals with cheques are included.U.K.

#### 34.Cash withdrawals using bank forms are not included.U.K.

#### 35.Cheques issued but not submitted for clearing are not included.U.K.

### *Cross-border transactions*U.K.

#### 36.In the case of sent transactions, to avoid double-counting, cross-border transactions are counted in the country in which                        the transaction originates.U.K.

#### 37.In the case of received transactions, to avoid double-counting, cross-border transactions are counted in the country in which                        the transaction is received.U.K.

#### 38.The difference between ‘cross-border transactions sent’ and ‘cross-border transactions received’ shows the net inflow or outflow                        of transactions into or out of the reporting country.U.K.

### *Flow of funds*U.K.

#### 39.The direction of the flow of funds depends on the payment service and the initiation channel used:U.K.

in the case of credit transfers, e-money payments and similar transactions where the payer initiates the transaction, the                              sending participant is also the sender of funds, and the receiving participant the recipient of funds;                           

in the case of direct debits, cheques, e-money payments and similar transactions where the payee initiates the transaction,                              the sending participant is the recipient of funds and the receiving participant the sender of funds;                           

in the case of card payments, although the payee initiates the transaction, the treatment followed within this Regulation                              corresponds to that where the payer initiates the transaction.                           

## **Part 2.4**U.K.**Payment transactions per type of terminal involving non-MFIs (Table 5)**

### 1.All indicators in this table refer to cash or cashless payment transactions performed at a physical (not virtual) terminal.U.K.

### 2.Resident PSPs provide information on all payment transactions at terminals provided (i.e. acquired) by the PSPs.U.K.

### 3.Resident PSPs provide information on all payment transactions, with cards issued by the PSPs, at terminals provided by non-resident                        PSPs.U.K.

### 4.Payment transactions at terminals provided by branches or subsidiaries of the PSP abroad are not reported by the parent PSP.U.K.

### 5.Transactions by type of terminal are broken down into three different categories based on the residency of the PSP. Categories                        in points (a) and (b) below are counted on the acquiring side and the category in point (c) below is counted on the issuing                        side:U.K.

payment transactions at terminals provided by resident PSPs with cards issued by resident PSPs;

payment transactions at terminals provided by resident PSPs with cards issued by non-resident PSPs;

payment transactions at terminals provided by non- resident PSPs with cards issued by resident PSPs.

### 6.The sub-categories within each category (a), (b) and (c) mentioned in point 5 should not be added up.U.K.

### 7.In this table, the geographical breakdown is based on the location of the terminal.U.K.

## **Part 2.5**U.K.**Participation in selected payment systems (Table 6)**

### 1.This table refers to number, type and institutional sector of participants (irrespective of their location) in a payment system.U.K.

### 2.The indicator ‘number of participants’ is the sum of the two mutually exclusive sub-categories ‘direct participants’ and ‘indirect                        participants’.U.K.

### 3.The indicator ‘direct participants’ is the sum of the three mutually exclusive sub-categories ‘credit institutions’, ‘central                        bank’ and ‘other direct participants’.U.K.

### 4.The indicator ‘other direct participants’ is the sum of the four mutually exclusive sub-categories ‘public administration’,                        ‘clearing and settlement organisations’, ‘other financial institutions’ and ‘others’.U.K.

## **Part 2.6**U.K.**Payments processed by selected payment systems (Table 7)**

### 1.This table refers to payment transactions processed through a payment system.U.K.

### 2.Payment transactions of a PSP on its own account are reported in the relevant indicators in this table.U.K.

### 3.In the case of a payment system, in which another payment system, e.g. an ancillary payment system, settles its positions,                        then the following principles apply:U.K.

the system of settlement reports the actual number of settlement operations and the actual amount settled;

where payment transactions are cleared outside the payment system and only net positions are settled via the payment system,                              only the transactions for the settlement of net positions are counted, and these are allocated to the payment service used                              for the settlement transaction.                           

### 4.Each payment transaction is counted only once on the sending participant’s side, i.e. the debiting of the payer’s account                        and the crediting of the payee’s account are not counted separately. Refer to the section on flow of funds in Part 2.3 above.U.K.

### 5.For multiple credit transfers, i.e. bulk payments, each item of the payment is counted.U.K.

### 6.In the case of netting systems, it is the gross number and value of payment transactions that is reported, and not the result                        after netting.U.K.

### 7.Payment systems distinguish and report domestic and cross-border transactions according to the residency of the sending and                        receiving participants. The classification ‘domestic transactions’ or ‘cross-border transactions’ reflects the location of                        the parties involved.U.K.

### 8.To avoid double-counting, cross-border transactions are counted in the country in which the transaction originates.U.K.

### 9.The indicator ‘card payments’ includes ATM transactions if the data cannot be broken down; otherwise ATM transactions are                        shown in the separate indicator ‘ATM transactions’.U.K.

### 10.The indicator ‘card payments’ includes all payment transactions processed in the payment system, irrespective of where the                        card was issued or used.U.K.

### 11.Cancelled payment transactions are excluded. Transactions that are later subject to a rejection transaction are included.U.K.

## ANNEX IIU.K.

### **DATA DEFINITIONS**

## ANNEX IIIU.K.

### **REPORTING SCHEMES**

## ANNEX IVU.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 their 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. subtotals must add up to totals),                              and data must be consistent across all frequencies;                           

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 must be acknowledged,                              explained to the relevant NCB and, where applicable, bridged as soon as possible;                           

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

### 3.Minimum standards for compliance with concepts:U.K.

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 revisions:U.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.                  

1

OJ L 318, 27.11.1998, p. 8.                           

2

Guideline ECB/2007/9 of 1 August 2007 on monetary, financial institutions and markets statistics (OJ L 341, 27.12.2007, p. 1).                           

3

Directive 2007/64/EC of the European Parliament and of the Council of 13 November 2007 on payment services in the internal                              market (OJ L 319, 5.12.2007, p. 1).                           

4

Directive 2009/110/EC of the European Parliament and of the Council of 16 September 2009 on the taking up, pursuit and prudential                              supervision of the business of electronic money institutions (OJ L 267, 10.10.2009, p. 7).                           

5

Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross-border payments in                              the Community and repealing Regulation (EC) No 2560/2001 (OJ L 266, 9.10.2009, p. 11).