EN ECB -PUBLIC  
 
OPINION OF THE EUROPEAN CENTRAL BANK  
of 12 March 2021  
on the auditing  of data from multinational enterprise groups to ensure  the quality of national 
accounts and economic statistics  
(CON/20 21/10) 
 
Introduction and legal basis  
On 10 February 2021 the European Central Bank (ECB) received a request from the German Federal 
Ministry for Economy and Energy for an opinion on a draft law on the auditing of data from multinational 
enterprise groups to ensure the quality of national accounts and economic statistics  (the ‘draft law’) . The 
draft law is part of an omnibus law which also includes a draft law on external trade statistics.  
The ECB’s competence t o deliver an opinion is based on Articles 127(4) and 282(5) of the Treaty on the 
Functioning of the European Union and the third and fourth indents of Article  2(1) of Council Decision 
98/415/EC1, as the draft law relates to Deutsche Bundesbank  and balance of payment statistics . In 
accordance 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.  
 
1. The p urpose of the provisions of the draft law  
1.1 The draft law forms part of the omnibus law which aims at  harmonising national law with Regulation 
(EU) 2019/2152 of the European Parliament and of the Council2. The purpose of the draft law is to 
ensure the quality of national accounts and economic statistics  and that the activities of multinational 
enterprise groups are accurately  recorded in German and European statistics. The draft law also 
aims to improve the regulation of  the mutual exchange of micro data relevant for the German balance 
of payments statistics compiled by Deutsche Bundesbank  and for the national accounts and 
economic statistics compiled by the Statistisches Bundesamt  (the Federal Statistical Office) .  
1.2 Under  the draft law , Deutsche Bundesbank transmit s to the St atistisches Bundesamt  individual data 
for the compil ation of  its statistics  upon request3. The draft law also provides that the Statistisches 
Bundesamt  and the statistical offices of the federal states may exchange data with Deutsche 
Bundesbank  in order to clarify any inconsistencies in the relevant data records . It stipulates that such 
data must be processed by organisational units of Deutsche Bundesbank which are separate from 
 
1  Council Decision 98/415/EC of 29 June 1998 on the consultation of the European Central Bank by national authorities 
regarding draft legislative provisions (OJ L 189, 3.7.1998, p. 42).  
2  Regulation (EU) 2019/2152 of the European Parliament and of the Council of 27 November 2019 on European 
business statistics, repealing 10 legal acts in the field of business statistics (OJ L 327, 17.12.2019, p. 1). See  also 
Opinion CON/2018/1.  All ECB opinions are available on EUR -Lex. 
3  Section 3 of the draft law.  
ECB -PUBLIC  
2 other areas of responsibility of Deutsche Bundesbank in terms of physical location, organisation and 
staff.   
1.3 The draft law also requires cooperation between the Statistisches Bundesamt , the statistical offices  
of the federal states and Deutsche Bundesbank  to ensure the quality of national accounts and 
economic statistics4. In particular , in view of the need to survey the decision -making unit of a 
multinational enterprise group, the Statistisches Bundesamt  must  cooperate with Deutsche 
Bundesbank in order to clarify any inconsistencies related to the balance of payments statistics5. 
Under the draft law, t he Statistisches Bundesamt  must  transmit data received in the context of such 
surveys to Deutsch e Bundesbank that relate to Deutsche Bundesbank’s  data records .  
1.4 The draft law stipulates that the Statistisches Bundesamt may also transmit data to  national statistical 
authorities  of the Member States  and to members of the European System of Central Banks (ESCB) , 
to the extent necessary to check and ensure the quality of the treatment of multinational enterprise 
groups in the national accounts and external economic statistics of Member States in accordance 
with U nion law6. The draft law also clarifies that any transmission of data deriving from Deutsche 
Bundesbank requires that Deutsche Bundesbank grants prior consent to such transmission in 
accordance with Article 8a of Council Regulation (EC) No 2533/987. 
 
2. The p urpose of the provisions of the omnibus law  on external trade statistics  
The omnibus  law contains  in the draft law on external trade statistics a provision dealing with the exchange 
of data between Deutsche Bundesbank and the Statistisches Bundesamt  on external trade statistics  and 
balance of payment s8. It obliges Deutsche Bundesbank and the Statistisches Bundesamt  to exchange 
individual data and stipulates that such statistical information must be used solely for statistical purposes 
and must be access ible only to individuals  who deal with statistical matters within their specific field of work, 
which is separate from other areas of responsibility of the Deutsche Bundesbank in terms of physical 
location, organisation and staff.  
 
3. General observations  
3.1 The ECB welcomes the draft law and the draft law on external trade statistics which regulate data 
exchange with Deutsche Bundesbank. Moreover, the ECB welcomes the provisions of the draft law 
which deal with  the transmission of statistical information to members of the ESCB  to the extent 
necessary to check and ensure the quality of the treatment of multinational enterprise groups in the 
national accounts and external economic statistics of the Member States of the EU in accordance 
with U nion law. The regulation of  this transmission of statistical information enhances  legal certainty.  
The ECB  also notes  the clarification in the draft law  that any transmission of data deriving from 
 
4  Section 1 of the draft law.  
5  Section 4 of the draft law.  
6  Section 5 of the draft law.  
7  Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European 
Central Bank (OJ L 318,  27.11.1998,  p. 8). 
8  Section 16 of the draft law on external trade statistics.  
ECB -PUBLIC  
3 Deutsche Bundesbank requires its prior consent in accordance with the directly applicable Article 8a 
of Regulation (EC) No 2533/98.  
3.2 Furthermore, t he ECB welcomes the draft law  in that it aims at  improving  the quality, consistency, 
harmonisation and compatibility of national and European statistics9. It is in the interest of the overall 
usability  of statistics that their consistency is preserved by the cooperation of the relevant national 
statistic al authorities  involved , including  national  central banks , and by the exchange of statistical 
information between the relevant  stakeholders. The contribution of the draft law in this regard is 
particularly relevant in view of the increasingly globalised economy  and the relevant role of 
multinational enterprise groups  in economic developments. The improved data  quality achieved 
through international exchange of statistical information will assist  European and international efforts 
to meet the statistical challenges posed by globalisation.  
3.3 Multinational enterprise groups’  activities may have a considerable  impact on  the ESCB’s tasks 
under the Treaty , namely defining and implementing monetary policy and contributing to the financial 
stability of the Union.  The availability of high quality economic and financial statistics is crucial for the 
fulfilment of these tasks.  
3.4 Finally, the ECB notes  that the process ing or use of statistical information received under  the draft 
law and the draft law on external trade statistics must be carried out by organisational units which 
are separate from other areas of responsibility of Deutsche Bundesbank in terms of physical location, 
organisation and staff10. The ECB understands that this requirement refers to the processing of the 
data received in a dedicated statistical unit to enable its use by the statistical systems to the extent 
legally feasible.  
 
This opinion wi ll be published on EUR -Lex.  
 
 
Done at Frankfurt am Main, 12 March 2021.  
 
[signed]  
 
The President of the ECB  
Christine  LAGARDE  
 
9  See Opinion CON/2018/1, para graphs 1.1, 1.5 and 1.6.  
10  Section 3(6) of the draft law and Section 16(4) of the draft law on external trade statistics .