EN 
 
 
OPINION OF THE EUROPEAN CENTRAL BANK 
of 30 November 2005 
at the request of Česká národní banka 
on a draft provision concerning the submission of statements by banks and foreign bank branches 
to Česká národní banka 
(CON/2005/49) 
 
1. On 30 September 2005, the European Cent ral Bank (ECB) received a request from Česká národní 
banka (ČNB) for an opinion on a draft ČNB provision concerning the submission of statements by 
banks and foreign bank branches to Česká národní banka (hereinafter the ‘draft provision’). 
2. The ECB’s competence to deliver an opinion is based on the fourth indent of Article 2(1) of 
Council Decision 98/415/EC of 29 June 1998 on the c onsultation of the European Central Bank by 
national authorities regarding draft legislative provisions1, as the draft provision relates to the 
collection of statistical information. In accordan ce with the first sentence of Article 17.5 of the 
Rules of Procedure of the European Central Bank,  the Governing Council has adopted this opinion. 
3. Currently, ČNB uses the data from statements submitted pursuant to two existing ČNB provisions2 
on the submission of statements by Czech-resident banks and foreign bank branches (hereinafter 
‘respondents’) , not only for banking supervision but also to compile statistics for monetary policy 
purposes. The draft provision, which will enter in to force on 1 January 2006 (hereinafter the 
‘effective date’) will replace those existing provi sions, essentially combining them into a single 
provision for reasons of efficiency. It does not, however, contain the methodology for compiling 
the statements currently set out in Provision No 8/2004. Instead, the detailed methodology for compiling the data sets (hereinafter the ‘met hodology’), which is not the subject of this 
consultation, will be published and sent to each respondent in electronic format on or after the 
effective date. The ECB understands, ho wever, that it follows from a separate ČNB provision
3 that 
the methodology will be legally binding on respondents. Furthermore, although ČNB has not 
requested the ECB’s opinion on the methodology , the ECB understands that it will essentially 
replicate the requirements currently set out in Provision No 8/2004.  
                                                      
1  OJ L 189, 3.7.1998, p. 42. 
2  ČNB Provision No 7 of 9 December 2004 concerning the submission to Česká národní banka of statements by banks and 
foreign bank branches and ČNB Provision No 8 of 15 December 2004 establishing the methodology for compiling 
statements submitted to Česká národní banka by banks and foreign bank br anches (hereinafter ‘Provision No 8/2004’).  
3  ČNB Provision No 1 of 17 May 2005 establishing the means of tr ansfer and acceptance of automated data statements to 
be submitted to Česká národní banka by banks and foreign bank branches, which allows respondents to compile 
statements for ČNB on the basis of a methodology which will be transmitted to them electronically. 
2 4. It should be recalled that  Article 5 of the Statute of the European System of Central Banks and of 
the European Central Bank and Article 10 of the Treaty establishing th e European Community 
imply that national statistical authorities of Member States that have not yet adopted the euro (hereinafter ‘non-participating Member States’) ar e under an obligation to design and implement at 
national level all the measures that they consider appropriate in order to collect the statistical 
information needed to fulfil the ECB’s statistical reporting requirements. These provisions therefore also imply that non-participating Member States are under an obligation to make timely preparations in the field of statistics in order to a dopt the euro. In this context, the ECB notes that it 
is primarily the task of the national authorities of non-participating Member States to determine 
which detailed reporting requirements and collection me thods are the most efficient and effective at 
national level and the least burdensom e for the respondents concerned.  
5. On that basis, the ECB broadly welcomes the draft provision, which appears to be generally 
consistent with many of the statistical reporti ng requirements applying to monetary financial 
institutions (MFIs) that are credit institutions in  the Member States that have adopted the euro.  
6. The ECB notes that certain important features of data collection contained in Regulation 
ECB/2001/13 are not contained in the draft provision. First, whereas Regulation ECB/2001/13 contains a definition of sectors other than MFIs
4, the ECB notes that the draft provision5 only 
requires respondents to use the list of MFIs and in stitutions subject to mi nimum reserves published 
and updated by the ECB and the list of MFIs in the Czech Republic published and updated by ČNB 
when reporting data on their claims and liabilities in  respect of MFIs, without defining the non-MFI 
sector. The ECB understands however that it will be possible to define the non-MFI sector by means of a system of code classifications, wh ich will be contained in the methodology (such 
definition is needed to obtain sectoral data  on MFIs’ transactions with the non-MFI sector). 
Furthermore, whereas Regulation ECB/2001/13 requi res deposit liabilities and loans to be reported 
at nominal value for statistical purposes
6, the ECB notes that the draft provision7 does not expressly 
lay down such requirement, but refers to such valuation being carried out in accordance with 
national and international accounting rules unless the methodological description stipulates otherwise. The ECB understands that the requireme nt for deposit liabilities and loans to be valued 
at nominal value for statistical purposes will be contained in the methodology and in the annexes 
thereto. Although ČNB has not consulted the ECB on the methodology itself, the ECB is of the 
view that if the methodology replicates the essential methodological features currently contained in Provision No 8/2004, then it would be broadly in line with the requirements under Regulation 
ECB/2001/13. 
7. Finally, the ECB notes that the reporting obligations of money market funds (MMFs), although 
also deemed to be MFIs under Regulation ECB/2001/ 13, are not covered by the draft provision but 
                                                     
 
4  Part 3 of Annex I to Regulation ECB/2001/13. 
5  Article 7 of the draft provision. 
6  See Part 1 of Annex I to Regulation ECB/2001/13. 
7  Article 6(5) of the draft provision. 
3 are currently dealt with under a separate legal act of ČNB8. The ECB understands that pursuant to 
the Act No 6/1993 Coll., on Česká národní banka,  as amended, ČNB is authorised to regulate the 
reporting obligations of MMFs and other non-banking financia l institutions under a separate 
regulation. 
8. This opinion will be published on the ECB’s website.  
  Done at Frankfurt am Main, 30 November 2005. 
 
[signed] 
 
The President of the ECB 
Jean-Claude TRICHET 
                                                     
 
8  ČNB Decree No 307/2004 Coll. on the submissi on of information and documents to Česká národní banka by entities 
belonging to the financia l institutions sector.