Regulation (EC) No 1746/2003 of the European Central Bank of 18 September 2003 amending Regulation (EC) No 2423/2001 (ECB/2001/13) concerning the consolidated balance sheet of the monetary financial institutions sector (ECB/2003/10)
Date: 2003-09-18
Institutions: European Central Bank
Subjects: European Central Bank, balance sheet, data collection, financial institution, financial statistics

2.10.2003

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Official Journal of the European Union

L 250/17

REGULATION (EC) No 1746/2003 OF THE EUROPEAN CENTRAL BANK

of 18 September 2003

amending Regulation (EC) No 2423/2001 (ECB/2001/13) concerning the consolidated balance sheet
of the monetary financial institutions sector

(ECB/2003/10)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

(3)

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

Whereas:

(1)

(2)

Regulation (EC) No 2423/2001 of the European Central
Bank of 22 November 2001 (ECB/2001/13) concerning
the consolidated balance sheet of the monetary financial
institutions sector (2) requires monetary financial institu-
tions (MFIs) to report quarterly statistical data broken
it currently
down by country and currency. However,
only requires such data in respect of the Member States
of the European Union (EU) at the time of its adoption.
It therefore has to be amended so as to extend the
reporting requirements to data in respect of the coun-
tries acceding to the EU on 1 May 2004.

Currently, most data in respect of the said countries are
unlikely to be significant. The benefit of separately iden-
tifying insignificant data is likely to be less than the costs
associated with its collection. In line with the already
existing flexibility permitted by Regulation (EC) No
2423/2001 (ECB/2001/13) in the calculation of quar-
terly figures where it can be shown from figures
collected at a higher level of aggregation that the data
involved are unlikely to be significant, the principle of
flexibility should also be applied in respect of reporting
of the new data. For this purpose, the national central
banks regularly assess if data are significant or not.

Further amendments to Regulation (EC) No 2423/2001
(ECB/2001/13) are required due to the codification of
Regulation of the European Central Bank (EC) No 2818/
98 (ECB/1998/15) of 1 December 1998 on the applica-
tion of minimum reserves (3),

HAS ADOPTED THIS REGULATION:

Article 1

Regulation ECB/2001/13 is amended as follows:

1. In Article 4, the following sentence is added to paragraph 2:
‘With reference to paragraphs 6a and 7a of Part 1, Section
IV of Annex I, each NCB shall assess if data in respect of
cells marked with the “#” symbol, in Tables 3 and 4 of Part
2 of Annex I, are insignificant, and shall
inform the
reporting agents when it does not require their reporting.’

2. Article 5(2) is deleted.

3. Annexes I and V are amended in accordance with the Annex

to this Regulation.

4. Annex II is amended in accordance with the Annex to this

Regulation.

Article 2

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

Article 1(1) and (3) shall apply from 1 May 2004. Article 1(2)
and (4) shall apply from 10 March 2004.

Done at Frankfurt am Main, 18 September 2003.

On behalf of the Governing Council of the ECB

Willem F. DUISENBERG

(1) OJ L 318, 27.11.1998, p. 8.
(2) OJ L 333, 17.12.2001, p. 1. Regulation as amended by Regulation
(EC) No 2174/2002 (ECB/2002/8) (OJ L 330, 6.12.2002, p. 29).

(3) OJ L 356, 30.12.1998, p. 1. Regulation as last amended by Regula-
tion of the European Central Bank (EC) No 690/2002 (ECB/2002/3)
(OJ L 106, 23.4.2002, p. 9).

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Official Journal of the European Union

2.10.2003

Annexes I, II and V to Regulation ECB/2001/13 are amended as follows:

ANNEX

1. Annex I is amended as follows:

(a) Part 1, Section IV is amended as follows:

(i) The following paragraph 6a is inserted:

‘6a. Reporting agents report data in respect of the cells not marked with the “#” symbol in Table 3 of

Part 2.

Reporting agents also report data in respect of the cells marked with the “#” symbol. However, if figures
collected at a higher level of aggregation show that these data are insignificant, NCBs may decide not to
require their reporting. Each NCB informs the reporting agents of such a decision.’;

(ii) The following paragraph 7a is inserted:

‘7a. Reporting agents report data in respect of the cells not marked with the “#” symbol in Table 4 of

Part 2.

Reporting agents also report data in respect of the cells marked with the “#” symbol. However, if figures
collected at a higher level of aggregation show that these data are insignificant, NCBs may decide not to
require their reporting. Each NCB informs the reporting agents of such a decision.’;

(iii) The following paragraph 9a is added:

‘9a. Where data in respect of cells marked with the “#” symbol are insignificant but NCBs nevertheless
collect them, these may be transmitted by the NCBs to the ECB with a delay of a further one month
from the close of business on the 28th working day following the end of the quarter to which they
relate. NCBs decide when they need to receive data from reporting agents in order to meet this dead-
line.’;

(b) Part 2 is amended as follows:

(i) in Table 3 (Country breakdown):

— under the heading ‘B. Other participating Member States (i.e. excluding domestic sector) + part of C. Rest
of the world (Member States)’, columns are inserted to represent each country acceding to the EU on 1
May 2004. Each cell in each of the said columns is marked with the ‘#’ symbol,

— in the heading of the final column, the words ‘(excluding Member States)’ are replaced by ‘(excluding DK,

SE, GB)’,

— the following ‘General note’ is added to the table: ‘If figures collected at a higher level of aggregation show
that data in respect of the cells marked with the “#” symbol are insignificant, NCBs may decide not to
require their reporting.’;

(ii) in Table 4 (Currency breakdown):

— Under the heading ‘Other Member State currencies’, columns are inserted to represent each country
acceding to the EU on 1 May 2004. Each cell in each of the said columns is marked with the ‘#’ symbol.

— The first row is replaced by the following:

‘BALANCE
SHEET
ITEMS

All
curren-
cies com-
bined

Euro

(…)

Other Member
State currencies

(Cells representing
the currency of
each Member
State)

Other currencies

Total

USD

JPY

CHF

Remain-
ing
curren-
cies com-
bined (1)

(1) Other Member States currencies (excluding DKK, SEK and GBP) are included under this column.’

— The following ‘General note’ is added to the table: ‘If figures collected at a higher level of aggregation
show that data in respect of the cells marked with the “#” symbol are insignificant, NCBs may decide not
to require their reporting.’

2. In Annex II, Part 1, paragraph 2, the words ‘(one-month)’ are deleted.

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3. In Annex V the following paragraphs 1a, 1b and 2a are inserted:

‘1a. Notwithstanding paragraph 1, first reporting according to this Regulation in respect of cells marked with the “#”

symbol begins with quarterly data for the period ending June 2004.

1b. If the relevant NCB decides not to require first reporting of insignificant data beginning with quarterly data for
the period ending June 2004, reporting starts 12 months after it informs the reporting agents that data are
required.

2a. For the first 12 months that they are reported, significant data in respect of the cells marked with the “#” symbol
may be reported to the ECB with a delay of a further one month from the close of business on the 28th working
day following the end of the quarter to which the data relate. NCBs decide when they need to receive data from
reporting agents in order to meet this deadline.’