02013O0024 — EN — 01.07.2021 — 003.001

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►B GUIDELINE OF THE EUROPEAN CENTRAL BANK of 25 July 2013 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts (recast) (ECB/2013/24) (2014/3/EU) (OJ L 002 7.1.2014, p. 34)

Amended by:









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GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 25 July 2013

on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts

(recast)

(ECB/2013/24)

(2014/3/EU)







Article 1

Definitions

For the purposes of this Guideline:

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1. ‘euro area’ means the economic territory of the euro area Member States, the European Central Bank (ECB), the European Stability Mechanism (ESM) and the European Financial Stability Facility (EFSF);

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2. ‘euro area Member State’ means a Member State whose currency is the euro;

3. ‘national data’ means data corresponding to all cells in Tables 1 to 9 of Annex I;

4. ‘supplementary data’ means data corresponding to the cells shaded black in Tables 1, 2, 4 and 5 of Annex I;

5. ‘reference quarter’ means the last quarterly observation of the time series to be reported.

Article 2

Statistical reporting obligations of the NCBs

1. The NCBs shall report to the ECB the data specified in Annex I on a calendar quarterly basis starting in September 2014. The data shall comply with the principles and definitions of the ESA 2010.

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2. The ‘supplementary data’ requirements shall cover transactions and stocks for the period from the last quarter of 2012 up to the reference quarter. The supplementary data specified in column ‘H’ of Tables 1, 2, 4 and 5 of Annex I (supplementary data referring to the government sector), and in column ‘B’, rows 3 and 17, of Tables 4 and 5 of Annex I (supplementary data referring to loans between non-financial corporations) may be reported on a voluntary basis.

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3. The ‘national data’ requirements specified in Tables 1-5 of Annex I shall comprise: ▼M3 (a) transactions, stocks and other changes in volume data (transactions and stocks only for line 46 of Table 2 ‘net financial transactions/net financial worth’) for the period from the last quarter of 2012 up to the reference quarter; and (b) transactions and stocks data for the period from the first quarter of 1999 up to the third quarter of 2012. For the period from the first quarter of 1999 up to the fourth quarter of 2002 such data shall be reported on a best estimate basis. The data specified in columns ‘J’ and ‘K’ of Tables 1 and 2 of Annex I (the breakdown of households and non-profit institutions serving households) may be reported on a voluntary basis. ▼B

4. The ‘national data’ requirements specified in Tables 6 to 9 of Annex I shall comprise transactions, stocks and other changes in volume data for the period from the fourth quarter of 2013 up to the reference quarter.

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5. The counterpart sectors ‘euro area other than domestic’ and ‘residents outside the euro area’ specified in rows 16-29 of Tables 3-7 and in rows 15-27 of Tables 8-9 of Annex I shall be adjusted to reflect the euro area composition at the reporting date. This adjustment shall be done whenever a Member State adopts the euro. The data provided shall be revised in line with the different data requirements specified in paragraphs 2, 3 and 4, on a best estimate basis.

6. By exemption from paragraphs 1 to 5, NCBs shall not be required to transmit any of the following: (a) at any time, the data relating to quarters prior to the first quarter of the year in which the relevant Member State acceded to the Union; (b) before June 2022, the ‘national data’ and ‘supplementary data’ relating to the sectoral breakdown of other financial institutions (OFI) (columns ‘E.1’, ‘E.2’ and ‘E.3’ of Tables 1-2 of Annex I) (c) before March 2024, the ‘national data’ and ‘supplementary data’ relating to the sectoral breakdown of other financial institutions (columns ‘E.1’, ‘E.2’ and ‘E.3’ of Tables 4-9, rows 8-10 and rows 22-24 of Tables 3-7 and rows 7-9 and rows 20-22 of Tables 8-9 of Annex I); (d) before March 2023, the ‘national data’ referred to in paragraph 3(a) relating to foreign direct investment (rows 2, 12, 16, 22, 24, 43 and 45 of Tables 1-2 of Annex I); (e) before March 2023 the ‘national data’ referred to in paragraph 3(a) relating to the additional instrument breakdowns for life insurance and pension entitlements (rows 33-34 and rows 37-38 of Tables 1-2 of Annex I); (f) at any time, the data referred to in points (b), (c) and (d) for the period from the last quarter of 2012 to the third quarter of 2013; (g) at any time, the data referred to in point (e) for the period from the last quarter of 2012 to the third quarter of 2016.

7. Together with the data reported pursuant to paragraphs 2 to 5 the NCBs shall provide explanatory information on: (a) single major events observed for the reference quarter if the magnitude of such single major events is at least 0,2 % of the quarterly euro area gross domestic product, or if its magnitude is significant at the national level, or if the ECB requests such information; and (b) reasons for revisions compared with the latest ‘national data’ reported to the ECB in accordance with this Guideline, if the magnitude of the changes to the data caused by such revisions is at least 0,2 % of the quarterly euro area gross domestic product, or if its magnitude is significant at the national level, or if the ECB requests such information.

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Article 3

Transmission and publication of data by the ECB

1. The ECB shall transmit to the NCBs the euro area aggregates it publishes, as well as the ‘national data’ collected under Article 2, as described in paragraphs 3 to 5 thereof.

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2. The ECB shall publish the euro area aggregates it compiles, as well as the ‘national data’ collected under Article 2, as described in paragraphs 3 to 5 thereof, as deemed relevant by the STC, except for data relating to the cells in rows 16-29 of Tables 3-7 and in rows 15-27 of Tables 8-9 of Annex I (referring to the counterpart sectors ‘euro area other than domestic’ and ‘residents outside the euro area’).

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3. The publication of ‘national data’ shall be subject to the following provisions: (a) ‘national data’ shall not be published earlier than seven days after the transmission deadlines set in Article 4; and (b) ‘national data’ referring to the government sector shall not be published in April and October of every year before the actual government deficit and debt data for the application of the Protocol on the excessive deficit procedure has been published by the European Commission in accordance with Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on excessive deficit procedure annexed to the Treaty establishing the European Community ( 1 ), as amended; and (c) the ‘national data’ referred to in Article 2(3)(b) shall be published together with information indicating that they are provisional and/or estimated, as appropriate. This treatment can be extended to other ‘national data’ collected under Article 2, as described in paragraphs 3 to 5, upon a justified request from the reporting NCB.

Article 4

Timeliness

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1. The NCBs shall report the ‘supplementary data’ described in Article 2(2) to the ECB within 85 calendar days of the end of the reference quarter. The Executive Board may reduce this deadline to 82 calendar days, if appropriate, taking into account the views of the STC. The Executive Board shall inform the Governing Council of its decision without undue delay. The ECB shall notify the NCBs of any change in the reporting period at least one year ahead of the first reporting date to which it applies. The NCBs shall report the associated explanatory information to the ECB within 87 calendar days of the end of the reference quarter.

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2. The ‘national data’ described in Article 2(3) to (5) and the explanatory metadata described in Article 2(7) shall be reported to the ECB within a period that shall not exceed 100 calendar days following the end of the reference quarter. Starting with the first transmission in 2017, the ‘national data’ and associated metadata shall be reported to the ECB within a period that shall not exceed 97 calendar days following the end of the reference quarter.

3. The data described in Article 3(1) shall be transmitted by the ECB to the NCBs not later than on the ECB working day following the day on which the ECB publishes the data.

Article 5

Cooperation with the competent national authorities

1. Where the sources of some or all of the data and information described in Article 2 fall within the competence of national authorities other than the NCBs, the NCBs shall endeavour to establish permanent cooperation arrangements with those authorities ensuring a data transmission complying with the standards and requirements set out in this Guideline, unless the same result is already achieved on the basis of existing national legislation.

2. When in the course of this cooperation an NCB is unable to comply with the requirements laid down in Articles 2 and 4 because the competent national authority did not provide the NCB with the necessary data or information, the ECB and the NCB shall review the matter together with that national authority with the view to ensuring that the information is made available in a timely manner.

Article 6

Transmission standard

The required statistical information shall be made available to the ECB in a form which meets the requirements laid down in Annex II. This requirement does not prevent the use of some other means of transmitting statistical information to the ECB as a fallback solution agreed between the ECB and an NCB.

Article 7

Quality

1. The ECB and the NCBs shall monitor and promote the quality of the data reported to the ECB.

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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.

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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.

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.

5. Where the Executive Board observes severe data quality issues, it may provide the Governing Council with additional reports as necessary.

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Article 8

Simplified amendment procedure

Taking account of the views of the STC, the Executive Board of the ECB shall be entitled to make technical amendments to the annexes to this Guideline, 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 9

Repeal

Guideline ECB/2002/7 is repealed from 1 September 2014. References to the repealed Guideline shall be construed as references to this Guideline.

Article 10

Final provisions

1. This Guideline is addressed to all Eurosystem central banks.

2. This Guideline shall take effect on 1 September 2014.

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ANNEX I

DATA REPORTING REQUIREMENTS







Summary of data requirements Article Content Tables Data type Reference period 1st Reporting date Timeliness Observations Stocks Transactions Other changes in volume 2(2) 4(1) Supplementary data; black shaded cells only- other than OFI breakdown T1 – financial assets T2 – liabilities T4 – short-term loans (w-t-w) T5 – long-term loans (w-t-w) 2012Q4 onwards Sep2014 End of reference quarter date (t)+85 (explanatory information at t+87) — Black shaded cells in column H on a voluntary basis — Black shaded cells in column B, rows 3 and 17, of T4 and T5 on a voluntary basis — Accompanied by explanatory information 2(2) 4(1) Supplementary data; black shaded cells only– OFI breakdown T1 – financial assets T2 – liabilities 2013Q4 onwards Jun2022 t+85 (explanatory information at t+87) — Black shaded cells in columns E.1-E.3 — Accompanied by explanatory information 2(2) 4(1) Supplementary data; black shaded cells only– OFI breakdown T4 – short-term loans (w-t-w) T5 – long-term loans (w-t-w) 2013Q4 onwards Mar2024 t+85 (explanatory information at t+87) — Black shaded cells in columns E.1-E.3, rows 8-10 and 22-24 — Accompanied by explanatory information 2(3) (a) 2(5) 3(2) 3(3) (a), (b) 4(2) National data; all cells - other than FDI, Insurance and Pension, and OFI breakdown T1 – financial assets T2 – liabilities T3 – deposits (w-t-w) T4 – short-term loans (w-t-w) T5 – long-term loans (w-t-w) 2012Q4 onwards Sep2014 t+97 — Accompanied by explanatory information — data in rows 16-29 of T3-T5 to be adjusted to reflect euro area composition — data in rows 16-29 of T3-T5 not to be published 2(3) (a) 3(3) (a) 4(2) National data - FDI T1 – financial assets T2 – liabilities 2013Q4 onwards Mar2023 t+97 — data in rows 2, 12, 16, 22, 24, 43 and 45 — Accompanied by explanatory information 2(3) (a) 3(3) (a) 4(2) National data – Insurance and Pension T1 – financial assets T2 – liabilities 2016Q4 onwards Mar2023 t+97 — data in rows 33-34 and 37-38 — Accompanied by explanatory information 2(3) (a) 3(3) (a), (b) 4(2) National data – OFI breakdown T1 – financial assets T2 – liabilities 2013Q4 onwards Jun2022 t+97 — data in columns E.1-E.3 — Accompanied by explanatory information 2(3) (a) 3(3) (a), b) 4(2) National data – OFI breakdown T3 – deposits (w-t-w) T4 – short-term loans (w-t-w) T5 – long-term loans (w-t-w) T6 – short-term debt securities (w-t-w) T7 – long-term debt securities (w-t-w) T8 – listed shares (w-t-w) T9 – investment fund shares or units (w-t-w) 2013Q4 onwards Mar2024 t+97 — data in columns E.1-E.3 of T4-T9 — data in rows 8-10 and rows 22-24 of T3-T7 and rows 7-9 and rows 20-22 of T8-T9 — Accompanied by explanatory information 2(3) (b) 2(5) 3(2) 3(3) (c) 4(2) National data; all cells - backdata T1 – financial assets T2 – liabilities T3 – deposits (w-t-w) T4 – short-term loans (w-t-w) T5 – long-term loans (w-t-w) 1999Q1–2012Q3 Sep2017 t+97 — Accompanied by explanatory information — columns J, K of T1 and T2 on a voluntary basis — data in rows 16-29 of T3-T5 to be adjusted to reflect euro area composition — data in rows 16-29 of T3-T5 not to be published — Best estimates for 1999Q1–2002Q4 2(4) 2(5) 3(2) 3(3) (a), (b) 4(2) National data; all cells T6 – short-term debt securities (w-t-w) T7 – long-term debt securities (w-t-w) T8 – listed shares (w-t-w) T9 – investment fund shares (w-t-w) 2013Q4 onwards Sep2015 t+97 — Accompanied by explanatory information — data in rows 16-29 of T6-T7 and in rows 15-27 of T8-T9 to be adjusted to reflect euro area composition — data in rows 16-29 of T6-T7 and in rows 15-27 of T8-T9 not to be published









ANNEX II

Table 1

Financial assets1), 2)

Table 2

Liabilities1), 2)

Table 3

Deposits (F.22+F.29)1), 2)

Table 4

Short-term loans (F.41)1)

Table 5

Long-term loans (F.42)1)

Table 6

Short-term debt securities (F.31)1)

Table 7

Long-term debt securities (F.32)1)

Table 8

Listed shares (F.511)1)

Table 9

Investment fund shares or units (F.52)1)

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ANNEX II

TRANSMISSION OF DATA TO THE EUROPEAN CENTRAL BANK

The national central banks (NCBs) use the facilities provided by the European System of Central Banks (ESCB) which relies on the ESCB IT infrastructure for the electronic transmission of the statistical information required by the European Central Bank (ECB). The exchanges of data within the ESCB shall be based on the Statistical Data and Metadata eXchange format. This requirement does not prevent the use of some other means of transmitting statistical information to the ECB as an agreed fall-back solution.

NCBs observe the recommendations listed below in order to ensure that data transmission functions satisfactorily:

(i) Completeness: NCBs report all required series keys. Reporting no series keys or non-listed series keys will be considered as incomplete reporting. Should an observation be missing, the omission is recorded using the corresponding observation status flag.

(ii) Accounting identities and sign convention of the data: the validation rules must be implemented by the NCBs before the data are transmitted to the ECB.

Where revisions are made to only a subset of series keys, the validation rules are applied to the whole report.