Guideline of the European Central Bank of 13 February 2004 amending Guideline ECB/2003/2 concerning certain statistical reporting requirements of the European Central Bank and the procedures for reporting by the national central banks of statistical information in the field of money and banking statistics (ECB/2004/1)
Date: 2004-02-13
Institutions: European Central Bank
Subjects: European Central Bank, central bank, data collection, exchange of information, financial statistics

20.3.2004

EN

Official Journal of the European Union

L 83/29

EUROPEAN CENTRAL BANK

GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 13 February 2004

amending Guideline ECB/2003/2 concerning certain statistical reporting requirements of the Euro-
pean Central Bank and the procedures for reporting by the national central banks of statistical
information in the field of money and banking statistics

(ECB/2004/1)

(2004/268/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

(4)

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank, and in particular to
Article 5(1), Article 12(1) and Article 14(3) thereof,

An amendment to Guideline ECB/2003/2 is required due
to the adoption of Regulation ECB/2003/9 of 12
September 2003 on the application of minimum
reserves (3), which recast Regulation ECB/1998/15 of 1
December 1998 on the
application of minimum
reserves (4).

Whereas:

(1)

(2)

Regulation ECB/2001/13 of 22 November 2001
concerning the consolidated balance sheet of the mone-
institutions sector (1) requires monetary
tary financial
financial institutions (MFIs) to report quarterly statistical
data broken down by country and currency. An amend-
ment to this Regulation was adopted on 18 September
2003 to include a requirement for MFIs to report data in
respect of the countries acceding to the European Union
(EU) on 1 May 2004.

for a

flexible

amendment provides

The
approach
whereby such data do not have to be reported if they
are insignificant. If figures collected at a higher level of
aggregation show that they are likely to be insignificant,
national central banks (NCBs) may decide not to require
their reporting. The European Central Bank (ECB) and
the MFIs should be regularly informed whether or not
the data are significant.

to require reporting,
they
(3) Where NCBs decide not
should estimate the data,
in order to maintain the
quality of the euro area MFI sector balance sheet statis-
tics. Guideline ECB/2003/2 of 6 February 2003
concerning certain statistical reporting requirements of
the European Central Bank and the procedures for
reporting by the national central banks of statistical
information in the field of money and banking statis-
tics (2) should therefore be amended to include this
requirement and to lay down the permissible methods of
estimation.

(5)

(6)

Further
following a review of Guideline ECB/2003/2.

amendments

technical

are

also

required

In accordance with Article 12(1) and Article 14(3) of the
Statute, ECB guidelines form an integral part of Com-
munity law,

HAS ADOPTED THIS GUIDELINE:

Article 1

Guideline ECB/2003/2 is amended as follows:

1. Article 2(4) is replaced by the following:

the compilation of

‘For the purposes of
the monetary
aggregates, the NCBs shall report statistical information on
central government deposit liabilities and holdings of cash
and securities in accordance with Annex VII, as a supple-
ment to and with the same frequency and timeliness as the
statistical information to be provided in accordance with
Regulation ECB/2001/13.’

2. In Article 2, the following paragraph 5a is inserted:

‘5a. With reference to tables 3 and 4 of part 2 of Annex I
to Regulation ECB/2001/13, where data in respect of
cells marked with the “#” symbol are not reported,
they shall be estimated in accordance with the stan-
dards laid down in Annex VIII.’

(1) OJ L 333, 17.12.2001, p. 1. Regulation as last amended by Regu-

lation ECB/2003/10 (OJ L 250, 2.10.2003, p. 17).

(2) OJ L 241, 26.9.2003, p. 1.

(3) OJ L 250, 2.10.2003, p. 10.
(4) OJ L 356, 30.12.1998, p. 1. Regulation as last amended by Regu-

lation ECB/2002/3 (OJ L 106, 23.4.2002, p. 9).

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Official Journal of the European Union

20.3.2004

3. Article 3(2) is replaced by the following:

8. Annex IX is replaced by the text set out in Annex IV to

‘In order to monitor the accuracy of the current standar-
dised deductions from the reserve base which credit insti-
tutions may apply to the outstanding amount of their debt
securities issued with an agreed maturity of up to two
years in accordance with Article 3(2) of Regulation ECB/
2003/9 of 12 September 2003 on the application of
minimum reserves (8), the ECB makes calculations on a
monthly basis, using end-month statistical information that
to NCBs in accordance with
credit
Regulation ECB/2001/13. The NCBs shall compile the
required aggregates in accordance with Annex XVI and
shall report these aggregates to the ECB.

institutions submit

(8) OJ L 250, 2.10.2003, p. 10.’

4. Article 7(2) and (3) are deleted.

5. Annex III is replaced by the text set out in Annex I to this

Guideline.

6. Annexes VII, XIII, XV, XVIII and XX are amended in

accordance with Annex II to this Guideline.

7. Annex VIII is replaced by the text set out in Annex III to

this Guideline.

this Guideline.

9. Annex XVII (except for its appendix) is replaced by the

text set out in Annex V to this Guideline.

10. Annex XXI is deleted.

Article 2

This Guideline is addressed to the NCBs of the Member States
that have adopted the single currency in accordance with the
Treaty establishing the European Community.

This Guideline shall enter into force on 20 February 2004.

Article 1(2) and (7) shall apply from 1 May 2004.

Done at Frankfurt am Main, 13 February 2004.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude TRICHET

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Official Journal of the European Union

L 83/31

ANNEX I

‘ANNEX III

DELIVERY CALENDAR FOR MFI INTEREST RATE STATISTICS

Covering the reference period January 2004 to December 2004

Reporting of MFI interest rates statistics

Reference period (1)
Monthly data

January 2004 data

February 2004 data

March 2004 data

April 2004 data

May 2004 data

June 2004 data

July 2004 data

August 2004 data

September 2004 data

October 2004 data

November 2004 data

December 2004 data

Day

Thursday

Friday

Thursday

Friday

Monday

Wednesday

Thursday

Monday

Thursday

Friday

Thursday

Friday

Transmission date (2)

Date

26-Feb-2004

26-Mar-2004

29-Apr-2004

28-May-2004

28-Jun-2004

28-Jul-2004

26-Aug-2004

27-Sep-2004

28-Oct-2004

26-Nov-2004

30-Dec-2004

28-Jan-2005

Notes:

(1) The reference period indicates the month and year of the observation period, this being one calendar month for data produced at

monthly frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.

DELIVERY CALENDAR FOR BALANCE SHEET ITEMS STATISTICS

Covering the reference period January 2004 to December 2004

Reporting of monthly and quarterly balance sheet items statistics

Monthly reporting

Quarterly reporting

Reference date (1)

Transmission date (2)

Day

Date

Reference date (1)

Transmission date (2)

Friday

20-Feb-2004

Monday

22-Mar-2004

—

—

Day

—

—

Date

—

—

Friday

23-Apr-2004

Mar-2004

Thursday

13-May-2004

Monday

Tuesday

24-May-2004

22-Jun-2004

—

—

—

—

—

—

Jun-2004

Thursday

22-Jul-2004

Jun-2004

Tuesday

10-Aug-2004

Jul-2004

Friday

20-Aug-2004

—

—

—

Jan-2004

Feb-2004

Mar-2004

Apr-2004

May-2004

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Official Journal of the European Union

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Monthly reporting

Quarterly reporting

Reference date (1)

Transmission date (2)

Day

Date

Reference date (1)

Aug-2004

Tuesday

21-Sep-2004

—

Transmission date (2)

Day

—

Date

—

Sep-2004

Friday

22-Oct-2004

Sep-2004

Thursday

11-Nov-2004

Oct-2004

Monday

22-Nov-2004

Nov-2004

Thursday

23-Dec-2004

—

—

—

—

—

—

Dec-2004

Monday

24-Jan-2005

Dec-2004

Thursday

10-Feb-2005

Notes:

“—” Denotes not applicable.

(1) The reference date indicates the month and year of the observation period, this being one calendar month for data produced at

monthly frequency and one calendar quarter for data produced at quarterly frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.

DELIVERY CALENDAR FOR RESERVE BASE STATISTICS

Covering the reference period January 2004 to October 2004

Reporting of reserve base statistics

Reference date (1)

Transmission date (2)

Day

Tuesday

Tuesday

Tuesday

Tuesday

Tuesday

Tuesday

Tuesday

Monday

Monday

Tuesday

Date

09-Mar-2004

06-Apr-2004

11-May-2004

08-Jun-2004

06-Jul-2004

10-Aug-2004

07-Sep-2004

11-Oct-2004

08-Nov-2004

07-Dec-2004

Jan-2004

Feb-2004

Mar-2004

Apr-2004

May-2004

Jun-2004

Jul-2004

Aug-2004

Sep-2004

Oct-2004

Nov-2004

Dec-2004

Notes:

(1) The reference date indicates the month and year of the observation period, this being one calendar month for data produced at

monthly frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.

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Official Journal of the European Union

L 83/33

DELIVERY CALENDAR FOR MACRO RATIO STATISTICS

Covering the reference period January 2004 to December 2004

Reporting of macro ratio statistics

Reference date (1)

Transmission date (2)

Jan-2004

Feb-2004

Mar-2004

Apr-2004

May-2004

Jun-2004

Jul-2004

Aug-2004

Sep-2004

Oct-2004

Nov-2004

Dec-2004

Day

Friday

Wednesday

Friday

Monday

Wednesday

Friday

Tuesday

Thursday

Friday

Tuesday

Friday

Monday

Date

27-Feb-2004

31-Mar-2004

30-Apr-2004

31-May-2004

30-Jun-2004

30-Jul-2004

31-Aug-2004

30-Sep-2004

29-Oct-2004

30-Nov-2004

31-Dec-2004

31-Jan-2005

Notes:

(1) The reference date indicates the month and year of the observation period, this being one calendar month for data produced at

monthly frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.

DELIVERY CALENDAR FOR OTHER FINANCIAL INTERMEDIARIES STATISTICS

Covering the reference period first quarter 2004 to fourth quarter 2004

Reporting of other financial intermediaries statistics

Reference date (1)

Transmission date (2)

—

—

Mar-2004

—

—

Jun-2004

—

—

Sep-2004

—

—

Dec-2004

Day

—

—

Monday

—

—

Tuesday

—

—

Date

—

—

30-Jun-2004

—

—

30-Sep-2004

—

—

Wednesday

31-Dec-2004

—

—

—

—

Wednesday

31-Mar-2005

Notes:

“—” Denotes not applicable.

(1) The reference date indicates the month and year of the observation period, this being one calendar quarter for data produced at quar-

terly frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.

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Official Journal of the European Union

20.3.2004

DELIVERY CALENDAR FOR STRUCTURAL STATISTICAL INDICATORS

Covering the reference period 2003 to 2004

Reporting of structural statistical indicators

Transmission date (2)

Reference date (1)

Dec-2003

Dec-2003
(Indicator No 3)

Dec-2004

Dec-2004
(Indicator No 3)

Day

Wednesday

Monday

Thursday

Tuesday

Date

31-Mar-2004

31-May-2004

31-Mar-2005

31-May-2005

Notes:

(1) The reference date indicates the month and year of the observation period, this being one calendar year for data produced at annual

frequency.

(2) The transmission date indicates the day of the week and the date on which data transmission by the NCB is due, and is binding for

the whole euro area.’

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Official Journal of the European Union

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ANNEX II

Annexes VII, XIII, XV, XVIII and XX to Guideline ECB/2003/2 are amended as follows:

1. In Annex VII, the table entitled ‘Statistics on central government deposit liabilities. Assessment of data availability’ is

replaced by the following:

‘Statistics on central government deposit liabilities. Assessment of data availability

Issuer

Post Office

Treasury

Treasury

Treasury

Treasury

Belgium

France

ESA sector of the issuer

Central government

Central government

Central government

Central government

Central government

Name of instrument

Avoirs à vue (sight deposits)

Sight deposits at the Treasury

Industrial development accounts
at the Treasury

Youth passbook accounts at the
Treasury

Time deposits at the Treasury

Description

—

Customer current accounts in
credit held by resident non-
financial agents

Savings deposits, admin. Regu-
lated, without maturity
or
notice period, on which cheques
are not allowed and which are
held by resident non-financial
agents

Savings deposits, admin. regu-
lated, without maturity
or
notice period, on which cheques
are not allowed and which are
held by resident non-financial
agents

accounts with

Customer
an
agreed maturity held by resident
non-financial agents

Frequency

Monthly

Monthly

Monthly

Monthly

Monthly

Timeliness:
agents/ready for ECB

from reporting

11/15 working days

10/15 working days

10/15 working days

10/15 working days

10/15 working days

Data source

Direct

Direct

Direct

Direct

Direct

Provision of historic data

July 1997 to
“Best estimates”
August 1998 and data before
July 1997 as historic data

Estimates back to 1980s

Estimates back to 1980s

Estimates back to 1980s

Estimates back to 1980s

Allocation
reporting scheme

within

the

Category: overnight;

Category: overnight;

Currency: national;

Currency: national;

Category: redeemable at notice
of up to 3 months;

Category: redeemable at notice
of up to 3 months;

Category: with agreed maturity of
up to 1 year/up to 2 years;

Sectors: other general govern-
ment, other resident sectors

Currency: national;

Currency: national;

Currency: national;

Sector: other resident sectors

Sector: other resident sectors

Sector: other resident sectors

Sectors: MFIs, central govern-
govern-
ment, other general
ment, other
sectors:
resident
non-financial corporations and
households and non-profit insti-
tutions serving households

Data on accrued interest

Excluded

Not relevant

Excluded

Excluded

Excluded

L

8
3
/
3
6

E
N

O

f
f
i
c
i
a
l

J
o
u
r
n
a
l

o
f

t
h
e

E
u
r
o
p
e
a
n
U
n
o
n

i

.

.

2
0
3
2
0
0
4

Issuer

Post Office Savings Bank (on
behalf
for
Finance)

the Minister

of

Post Office Savings Bank (on
behalf
for
Finance)

the Minister

of

Treasury
Office)

(through

the

Post

Treasury
Depositi
DD.PP.))

(through the Cassa
(Cassa
e

Prestiti

Treasury
DD.PP.)

(through

the Cassa

Ireland

Italy

.

.

2
0
3
2
0
0
4

ESA sector of the issuer

Central government

Central government

Central government

Central government

Central government

Name of instrument

Ordinary deposits

Special savings accounts (SSAs)

Current accounts

Libretti postali
deposits)

liberi

(savings

Buoni fruttiferi ordinari
certificates)

(savings

Description

Not transferable by cheque, but
withdrawable
demand
without interest penalty

on

Attract a lower rate of deposit
retention tax (DIRT).
interest
Monies withdrawn
without
prior notice subject to penalties

Deposits (current accounts)

Deposits (savings accounts)

Deposits (savings accounts)

Frequency

Monthly

Monthly

Monthly

Monthly

Monthly

Timeliness:
agents/ready for ECB

from reporting

10/15 working days

10/15 working days

15 working days

15 working days

15 working days

Data source

Direct

Direct

Other

Other (Cassa DD. PP.)

Other (Cassa DD. PP.)

Provision of historic data

Real back data from July 1997;
for earlier estimates back to
1980s use building blocks exer-
cise

Real back data from July 1997;
for estimates back to 1980s use
building blocks exercise

Data back to December 1995
may be estimated

Data back to December 1995
may be estimated

Data back to December 1995
may be estimated

Allocation
reporting scheme

within

the

Category: redeemable at notice
of up to 3 months;

Category: redeemable at notice
of up to 3 months;

Currency: national;

Currency: national;

Sector: other resident sectors

Sector: other resident sectors

Category: overnight;

Currency: national;

Sectors: other general govern-
ment, other resident sectors

Category: redeemable at notice
of up to 3 months;

Category: redeemable at notice of
up to 3 months;

Currency: national;

Currency: national;

Sector: other resident sectors

Sector: other resident sectors

Data on accrued interest

Excluded

Excluded

Excluded

Excluded

Excluded

E
N

O

f
f
i
c
i
a
l

J
o
u
r
n
a
l

o
f

t
h
e

E
u
r
o
p
e
a
n
U
n
o
n

i

L

8
3
/
3
7

Issuer(s)

Post Office

Treasury

Luxembourg

Portugal

Treasury;
(IGCP)

Instituto de Gestão do Crédito Público

ESA sector of the issuer

Central government

Central government

Central government

Name of instrument(s)

Deposits

Sight deposits at the Treasury

Time deposits at the Treasury; Certificados espe-
ciais de dívida de curto prazo (short-term debt
certificates) issued by the IGCP

Description

Frequency

Timeliness:
ECB

Data source

—

—

—

Monthly

Monthly

Monthly

from reporting agents/ready for

15 working days

10/14 working days

10/14 working days

Direct

Direct

Direct

Provision of historic data

Real back data from July 1997 to May 1998; esti-
mates back to 1980s not foreseen

Real back data from September 1999

Real back data from September 1999

Allocation within the reporting scheme

Category: full split if Post Office cooperates;

Category: overnight;

Category: with agreed maturity of up to 1 year;

Currency: national;

Currency: national;

Currency: national;

Sectors: other general government, other resident
sectors

Sectors: other general government, other resident
sectors

Sectors: other general government, other resident
sectors

Data on accrued interest

Included

Excluded

Excluded’

L

8
3
/
3
8

E
N

O

f
f
i
c
i
a
l

J
o
u
r
n
a
l

o
f

t
h
e

E
u
r
o
p
e
a
n
U
n
o
n

i

.

.

2
0
3
2
0
0
4

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2. Annex XIII is amended as follows:

(a) table 1 ‘BSI key family (ECB_BSI1): Series dimensions’ is replaced by the following:

‘Posi-
tion in
key:

1

2

3

4

5

6

7

8

9

Concept
(mnemonic)

Concept name

Value
format

Code list
(mnemonic)

Code list name

Dimensions

FREQ

Frequency

AN1

CL_FREQ

Frequency code list (BIS, ECB)

REF_AREA

Reference area

AN2

CL_AREA_EE

Area code list (Eurostat BoP, ECB)

ADJUSTMENT

Adjustment indicator

AN1

CL_ADJUSTMENT

Adjustment indicator code list (BIS, ECB)

BS_REP_SECTOR

Balance sheet
sector breakdown

reference

AN1

CL_BS_REP_SECTOR

Balance sheet reference sector breakdown
code list (ECB)

BS_ITEM

Balance sheet item

AN3

CL_BS_ITEM

Balance sheet item code list (ECB)

MATURITY_ORIG

Original maturity

AN1

CL_MATURITY_ORIG

Original maturity code list (ECB)

DATA_TYPE

Data type

AN1

CL_DATA_TYPE

Money and banking type of data, flow
and position (ECB, BIS)

COUNT_AREA

Counterparty area

AN2

CL_AREA_EE

Area code list (Eurostat BoP, ECB)

BS_COUNT_SECTOR

Balance
party sector

sheet

counter-

AN4

CL_BS_COUNT_SECTOR Balance sheet counterparty sector code
list (ECB, BIS)

10

CURRENCY_TRANS

Currency of transaction

AN3

CL_CURRENCY

11

BS_SUFFIX

Balance sheet suffix

AN..3

CL_BS_SUFFIX

Currency code list
BoP)

(ECB, BIS, Eurostat

Denomination of
calculation code list (ECB)’

the series or special

(b) section 2.11 is replaced by the following:

‘Dimension No 11: Currency of denomination of the series (BS_SUFFIX; length: up to three characters)

This dimension specifies whether the reported series is expressed in national or in the common (euro) currency.
It has two values (N, national and E, euro) that are represented by the code list CL_BS_SUFFIX. This dimension is
critical to differentiate the series representing the same economic phenomenon which are reported in the different
stages of economic and monetary union (EMU). For example, for the EU countries that are not members of the
EMU, data are reported in the national currency. As from the time they join the EMU, the same BSI series will be
expressed and reported in euro.’;

(c) in Section 5.1 ‘Stock data’, paragraph (d) ‘Memorandum items — OMFIs and NCBs/ECB’ is replaced by the

following:

‘A set of monthly time series for the OMFI and NCB/ECB sectors has been identified in Annex IX as necessary to
monitor the developments of some additional breakdowns of the main MFIs' BSI series. These series are reported
to the ECB as memorandum items and are classified in two blocks according to their level of relevance: “high
priority” memorandum items and “low priority” memorandum items. Where the phenomenon does not exist or
data are not available, no reporting is required. In this case the NCBs should inform the ECB in advance and
send, before the first data transmission, the list of applicable series that will be regularly reported.’

3. Annex XV is amended as follows:

(a) the section entitled ‘Regular reporting of the data’ is replaced by the following:

‘The reserve base statistics comprise six time series for credit institutions, referring to month-end stock figures to
be transmitted to the ECB, at a monthly frequency, at the latest by the “acknowledgement date” (the NCB business
day preceding the start of the maintenance period), via the ESCB data exchange system. As an exception, for the
maintenance period starting on 24 January 2004 and ending on 9 March 2004 the reserve base statistics should
be provided at the latest by 16 February 2004 (5).

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Credit institutions in the tail (i.e. those exempt from full monthly reporting) report a limited breakdown to the
NCBs on a quarterly basis. For these tail credit institutions, simplified reserve base statistics for the three (one-
month) reserve maintenance periods are used, and the NCBs will include data for tail credit institutions according
to their reporting timetable (6).

(5) Or by the preceding NCB business day if 16 February 2004 is not an NCB business day. “NCB business day”
shall mean any day on which a particular NCB of a participating Member State is open for the purpose of
conducting ESCB monetary policy operations.

(6) The NCBs use the quarterly reserve base data from the credit institutions in the tail for the monthly figures

reported to the ECB in the three data transmissions following their release.’;

(b) the section entitled ‘Revision policy’ is replaced by the following:

‘Revisions by the reporting institutions to the reserve base/reserve requirements that occur after the maintenance
period has started, or after 16 February 2004 regarding the maintenance period starting on 24 January 2004
(late revisions), should not lead to revisions to the statistics on the reserve base and on the reserve requirements.’;

4. Annex XVIII is amended as follows:

(a) in Section 5.2.3 ‘Attributes at observation level’, ‘Mandatory’, the second paragraph of the first indent is replaced

by the following:

‘The list below specifies the expected values (according to the agreed hierarchy) for these attributes for the
purpose of the OFI statistics:

“A” = normal value,

“B” = break value (20a),

“M” = non-applicable data (21),

“L” = data exist but are not collected (22),

“E” = estimated value/assumption,

“P” = provisional value (this attribute can be used, in particular, with each data transmission referring to the last

observation) (23).

(20a)

For the purposes of the OFI key family, this attribute is not requested since this information is already
available from the reclassification series. It has been added to the list since it is part of the common list of
possible values for the observation status attribute for all key families. However, if the observation status
“B” is provided, it must be accompanied by a pre-break observation value (OBS_PRE_BREAK).

(21) When, owing to local market practices or to the legal framework, a time series (or part of it) is not applic-
able (the underlying phenomenon does not exist), a missing value is reported (“-”) with observation status
“M”.

(22) When, owing to local statistical conditions, data for a time series are not collected either on specific dates
or for the total length of the time series (the underlying economic phenomenon exists but is not monitored
statistically), a missing value is reported (“-”) with observation status “L” in each period.
These observations take definite values (observation status “A”) at a later stage. The new revised values
overwrite the previous provisional observations.’;

(23)

(b) in Section 5.2.3 ‘Attributes at observation level’, ‘Conditional’, the second indent is replaced by the following:

‘OBS_PRE_BREAK: This attribute contains the pre-break observation value, which is a numeric field like the
observation. It is provided when a series break occurs. For the purpose of the OFI key family, this attribute is not
requested since this information is already available from the reclassification series. It has been added to the list
of attributes since it is part of the common subset of attributes for all key families. However, if the observation
status “B” (break value) is provided, it must be accompanied by a pre-break observation value.’

5. In Annex XX, Section 3 ‘Transmission standard’ is deleted.

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ANNEX III

‘ANNEX VIII

REPORTING OF QUARTERLY DATA BROKEN DOWN BY COUNTRY AND CURRENCY

Reporting of data under Regulation ECB/2001/13

1. Regulation ECB/2001/13 of 22 November 2001 concerning the consolidated balance sheet of the monetary financial
institutions sector (1) requires MFIs to provide quarterly breakdowns in respect of key items of the aggregated balance
sheet as defined in part 1 section IV and further specified in table 3 (Country breakdown) and table 4 (Currency
breakdown) of part 2 of Annex I to the said Regulation. In both tables, cells corresponding to positions with the
countries acceding to the EU on 1 May 2004 are marked with the “#” symbol. MFIs report data in respect of these
cells. NCBs may however decide not to require reporting of these data if figures collected at a higher level of aggrega-
tion show that they are insignificant.

2. If NCBs decide not to require the reporting of insignificant data they assess, at regular intervals (at least once a year),
whether or not data in respect of the cells marked with the “#” symbol NCBs inform the ECB and the MFIs of any
change in the reporting requirements in respect of the said cells.

3. Where data in respect of cells marked with the “#” symbol are insignificant and NCBs decide not to require their
(full) reporting, they estimate the data using existing information, in accordance with the methods set out below.

Methods of estimation

4. Where NCBs estimate the data using existing information, they report these data to the ECB as memorandum items.
The following methods of estimation may be used (further methods may be discussed with the ECB on a case-by-case
basis):

— the quarterly figures are estimated on the basis of data reported by MFIs at lower frequency. The data are carried
forward into the missing period(s), by repeating them or applying appropriate statistical techniques to reflect any
trend growth rate or seasonal pattern,

— the quarterly figures are estimated on the basis of data reported by MFIs on a more aggregated basis, or on the

basis of specific breakdowns which the NCBs consider to be meaningful,

— the quarterly figures are estimated on the basis of quarterly data collected from large MFIs (responsible for at least

80 % of the business with the countries acceding to the EU on 1 May 2004),

— the quarterly figures are estimated on the basis of alternative data sources (such as Bank for International Settle-
ments or balance of payments data), after any necessary adjustment required due to differing concepts and defini-
tions used in such alternative sources compared with those used in money and banking statistics,

— the quarterly figures are estimated on the basis of data in respect of the countries acceding to the EU on 1 May

2004 reported quarterly by MFIs as a single total.

5. Data reported as memorandum items under this Annex 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 they relate.’

Timeliness of reporting

(1) OJ L 333, 17.12.2001, p. 1. Regulation as last amended by Regulation ECB/2003/10 (OJ L 250, 2.10.2003, p. 17).

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ANNEX IV

‘ANNEX IX

MEMORANDUM ITEMS TO BE PROVIDED AT A MONTHLY FREQUENCY

REPORTING SCHEME

1. The memorandum items listed in this Annex belong to the balance sheet items (BSI) key family, which is described
in Annex XIII. The series are to be reported at monthly frequency and with the same timeliness as the mandatory
monthly monetary financial institution (MFI) balance sheet statistics in accordance with Regulation ECB/2001/13 of
22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector (1).

I. Memorandum items for the derivation and assessment of the monetary aggregates and counterparts

2. For the purposes of the compilation of the monetary aggregates, the national central banks (NCBs) report statistical
information on supplementary breakdowns of “currency in circulation” and “debt securities issued”. These high
priority memorandum items are shown as bold framed cells in Tables A and B and are defined below. The
remaining memorandum items are needed to allow a more detailed analysis of the MFI balance sheet statistics.

3. Currency in circulation, of which euro banknotes (M1), national denomination banknotes (M2), coins (M3),

coins denominated in euro (M4) and coins in national denominations (M5):

— euro banknotes (M1) are euro banknotes issued as included in the item “currency in circulation”,

— national denomination banknotes (M2) are banknotes denominated in the legacy currencies issued by NCBs
before 1 January 2002 that have not yet been redeemed at the NCBs. Reported as from January 2002, at least
during 2002,

— coins (M3) refers to the amount of coins, both euro and national denomination (not yet redeemed), issued by
national authorities (NCBs/central governments) and reported as part of the item “currency in circulation” in the
NCB's balance sheet,

— coins denominated in euro (M4) are coins denominated in euro issued by national authorities (NCBs/central

governments),

— coins in national denominations (M5) are coins denominated in the legacy currencies issued by national authori-

ties (NCBs/central governments) before 1 January 2002 that have not yet been redeemed at the NCBs.

4. Holders of negotiable securities issued by the European Central Bank (ECB)/NCBs (items M6 to M8)

Debt securities issued by the ECB/NCBs that have been broken down by residency of the holder, according to the
following three-way split: domestic/other participating Member States/rest of the world.

(1) OJ L 333, 17.12.2001, p. 1. Regulation as last amended by Regulation ECB/2003/10 (OJ L 250, 2.10.2003, p. 17).

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5. Remaining assets/liabilities, of which intra-eurosystem liabilities (item M13)/claims (item M18) related to

the allocation of euro banknotes

Net positions vis-à-vis the eurosystem originated by: 1. distribution of euro banknotes issued by the ECB (8 % of
total issues); and 2. application of the capital share mechanism. The allocation of the individual NCB's and ECB's net
credit or debit position to either the asset or liability side of the balance sheet is done according to the sign, i.e. a
positive net position vis-à-vis the eurosystem will be reported on the asset side, a negative net position on the liabi-
lity side.

6. Holders of negotiable securities issued by other MFIs with a breakdown by maturity (items M19 to M21

and M28 to M30) and further by currency (items M22 to M27 and M31 to M36)

Debt securities and money market paper issued by MFIs that have been broken down by residency of the holder
according to the following three-way split: domestic/other participating Member States/rest of the world. Debt secu-
rities and money market paper data are provided with a breakdown by maturity (up to one year, over one year and
up to two years) and further details by currency (euro, foreign currencies).

II. Memorandum items to derive weighting information for MFI interest rate statistics

7. For the regular production of MFI interest rate (hereinafter MIR) statistics (1), weighting information is necessary to
aggregate the national MIR statistics to MIR statistics for the euro area. To reduce the reporting burden on the
NCBs, the decision has been taken to use as a primary source for deriving the weights for MIR statistics on
outstanding amounts as well as selected MIR statistics on new business the statistical information already reported
by NCBs in the context of BSI statistics.

8. On the basis of data availability according to Regulation ECB/2001/13 the weighting information for the relevant
deposit categories referring to new business and outstanding amounts can be easily mapped from the MFI balance
sheet statistics. However, for the loan instrument categories in the field of outstanding amounts (2) the mandatory
BSI data do not allow an exact mirroring.

9. For these loan instrument categories, the (mandatory) BSI series cover all currencies of transaction, whereas MIR
statistics consider only euro-denominated loans. BSI series referring only to the euro as the currency of transaction
according to Regulation ECB/2001/13 are available with the required sectoral breakdown, but with no distinction
by maturity nor (within the household sector) by type of loan.

10. For these loan categories, the weighting will therefore be based on the BSI series referring to all-currency loans.

However, the series will be adjusted for the share of euro within the total currencies of transaction.

11. Following bilateral contacts, a number of NCBs (to date: Belgium, Spain, France, Ireland, Italy, Luxembourg, Austria,
Portugal and Finland) are, however, also in a position to provide the required breakdowns for euro-denominated
loans. To this end, the following memorandum items have been established:

(1) According to Regulation ECB/2001/18 of 20 December 2001 concerning statistics on interest rates applied by monetary financial

institutions to deposits and loans vis-à-vis households and non-financial corporations (OJ L 10, 12.1.2002, p. 24).

(2) See Regulation ECB/2001/18, Annex II, Appendix 1: indicators 6 to 14.

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ANNEX V

‘ANNEX XVII

LIST OF MONETARY FINANCIAL INSTITUTIONS

GUIDELINES FOR REPORTING UPDATES

Introduction

1. These guidelines provide information on the collection, validation and dissemination of the list of monetary finan-
cial institutions (MFIs). The list of MFIs is a compilation of institutions reflecting the national MFI sectors of the
European Union (EU) Member States.

Ad hoc updates to the list of MFIs

2. Ad hoc updates are mandatory and take place if there are changes in the MFI sector, i.e. an institution joins the MFI

sector (joiner) or an existing MFI leaves the MFI sector (leaver).

3. Ad hoc updates are also mandatory where there are any changes in attributes of existing MFIs.

4. An institution can join the MFI sector for any of the four reasons below:

— the establishment of an MFI as the result of a merger,

— the establishment of new legal entities as the result of the division of an existing MFI,

— the establishment of a new MFI,

— a change in the status of a previous non-MFI, such that it becomes an MFI.

5. An institution can leave the MFI sector for any of the five reasons below:

— the involvement of an MFI in a merger,

— the purchase of an MFI by another institution,

— the division of an MFI into separate legal entities,

— a change in the status of an MFI, such that it becomes a non-MFI,

— the liquidation of an MFI.

6. Transmission of ad hoc updates of the MFI sector is mandatory, both to ensure full consistency with the eligible
counterparties for monetary policy operations (hereinafter “MPEC”) and for the monthly release of the list of MFIs
on the European Central Bank“s (ECB”s) website.

7. When reporting a new institution or an institution to be modified, all mandatory variables should be completed.

8. When reporting an institution leaving the MFI sector (which is not part of a merger) the following information
should be reported as a minimum: the type of request (i.e. delete) and the identification (hereinafter “id”) code of the
MFI (i.e. the “mfi_id” variable).

MFI id code reallocation

9. National central banks (NCBs) should not reallocate MFI id codes of deleted MFIs to new MFIs.

10. In the event that this is unavoidable, an “mfi_req_realloc” request should be sent to the ECB. Reallocation of an MFI
id code is handled by the ECB like allocation of a code to a new MFI, with the difference that the system does not
check the MFIs archives to look for matching MFIs. Note that if the MFI id code being reallocated exists in the
existing list of MFIs, then this request will be rejected.

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11. In the event that the MFI id code of an existing MFI has to be changed to that of a deleted MFI, then an “mfi_req_-
mod_id_realloc” request should be sent to the ECB. This enables a change of MFI id code and a reallocation of an
existing MFI id code to take place in one operation. Every time an MFI id code is changed in this manner all the
existing MFIs will be checked to see if the old MFI id code was reported for the head office of an existing MFI (i.e.
for a foreign branch); if so, the MFI id code of the head office will be updated automatically. Note that if the new
MFI id code has already been used and the request is not an mfi_req_mod_id_realloc (or the new MFI id code is in
the current list) the request will be rejected.

Variables transmitted

12. The table below outlines the variables that are collected for the list of MFIs and whether they are mandatory or
otherwise. Please refer to the section on “Validation checks” below for further details about each variable. Note that
unless explicitly stated otherwise, the term “mergers” refers to domestic merger activity.

Status

Variable name

Description

Mandatory

object_request

The type of MFI update sent. Can be one of seven
“mfi_req_mod”,
predefined
“mfi_req_del”,
“mfi_req_realloc”,
“mfi_req_merger”,
“mfi_req_mod_id_realloc” and “mfi_req_mod_id”.

“mfi_req_new”,

values:

Mandatory

mfi_id

The unique id code of the MFI. Comprised of two
parts: “host” and “id”

Mandatory: when part of id
code

host

The country of registration of the MFI, given as a two-
character country ISO code

Mandatory: when part of id
code

id

The id code for the institution (without the 'host' two-
character ISO country code as a prefix)

Mandatory

name

The full registration name of the MFI

Mandatory: for “new” and
“mod” requests

address

The location details of the MFI. Comprised of four
parts: “address”, “box”, “code” and “city”

Mandatory: for “new” and
“mod” requests

postal_address

The name of the street and the number of the building

Mandatory: for “new” and
“mod” requests

postal_box

The post office box number

Mandatory: for “new” and
“mod” requests

postal_code

The postcode

Mandatory: for “new” and
“mod” requests

city

The city of location

Mandatory: for “new” and
'mod' requests

category

Indicates the type of MFI. This can be one of four
predefined values: central bank, credit
institution,
money market fund or other institution

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Status

Variable name

Description

Mandatory: for “new” and
“mod” requests

report

Indicates whether the MFI reports monthly balance
sheet statistics or not. Can be one of two predefined
values: true or false

Non-mandatory

order_r

Indicates the desired order of the List of MFIs if the
English alphabetical order is not applicable.

Mandatory for foreign
branches

head_of_branch

Indicates the MFI is a foreign branch. Can have one of
three values:
“eu_non_mfi_head” or
“eu_mfi_head”

“non_eu_head”,

Mandatory for foreign
branches

non_eu_head

The head office is non-EU resident. Comprised of two
parts: “host” and “name”

Mandatory for foreign
branches

eu_non_mfi_head

Specifies the head office is EU resident and is not an
MFI. Comprised of two parts: “non_mfi_id” and “name”

Mandatory for foreign
branches

eu_mfi_head

Specifies the head office is EU resident and is an MFI.
Value for this variable is comprised of “mfi_id”

Mandatory for mergers

mfi_req_merger

Specifies that merger information is being sent

Mandatory for mergers

submerger

Under each “submerger”, institutions sharing the same
“date” of
legal effect of merger activity should be
reported. Comprised of four parts: “date”, “comment”,
“involved_mfi” and “involved_non_mfi”

Mandatory for cross-border
mergers

involved_mfi

Specifies that an MFI
is involved in a cross-border
merger. Value for this variable is comprised of 'mfi_ref'

Mandatory for mergers

involved_non_mfi

Specifies that a non-MFI is involved in the merger.
Value for this variable is comprised of “non_mfi_obj”

Mandatory for cross-border
mergers

mfi_ref

Details of an MFI involved in a cross-border merger.
Comprised of two parts: “mfi_id” and “name”

Mandatoryfor mergers

non_mfi_obj

Details of a non-MFI involved in a merger with an MFI.
Comprised of two parts:“non_mfi_id” and “name”

Mandatory for mergers

non_mfi_id

Details of a non-MFI involved in a merger with an MFI.
Comprised of two parts: “host” and “id”. Five characters
in length

Not applicable for NCB
updates. For disseminations
only.

ecb_id

A unique code established by the ECB, assigned to
each MFI. This variable is sent, via the N13 Data
Exchange System, to NCBs, with all standard dissemi-
nations. NCBs can choose to either accept or delete it.

Not applicable for NCB
updates. For disseminations
only.

head_bce_id

A unique code established by the ECB, assigned to
head offices of EU MFI foreign branches. This variable
is sent, via the N13 Data Exchange System, to NCBs,
with all standard disseminations. NCBs can choose to
either accept or delete it.

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Merger requests

13. Several examples are given below of the variables to use to report both domestic and cross-border mergers, between
an MFI and other MFI(s)/non-MFI(s). Scenarios involving both the same dates and different dates of legal effect of
merger activity are also indicated. Note that the situations below are samples and do not reflect an exhaustive list of
all possible merger scenarios. Furthermore, the result specified for a situation is only one of many possible outcomes
for that type of merger.

14. The “Exchange Specification for the N13 Phase II Data Exchange System” (see the section on “Reference” below)

should be referred to, for appropriate guidelines on the XML reporting scheme.

Merger request examples

Reference

Situation

Merger variables to use to report situation

1

Domestic merger between two MFIs

Result: the licences of MFI-1 and MFI-2 are with-
drawn. A new institution (MFI-3) is established
from the merger. There is one date of legal effect
for this merger (date-1)

2

Domestic merger between three MFIs

Result: MFI-1 and MFI-2 are involved in merger
activity on date-1, with the consequence that the
licence of MFI-2 is withdrawn. MFI-1 then
merges with MFI-3 on date-2. MFI-1 changes its
name and the licence of MFI-3 is withdrawn

Note: In date-1, MFI-1 is reported as a modifica-
tion,
even though there were no attribute
changes

Mfi_req_merger
Submerger
date (date-1)
mfi_req_del (MFI-1)
mfi_req_del (MFI-2)
mfi_req_new (MFI-3)

Mfi_req merger
Submerger
date (date-1)
mfi_req_mod (MFI-1)
mfi_req_del (MFI-2)
submerger
date (date-2)
mfi_req_mod (MFI-1)
mfi_req_del (MFI-3)

3

4

Domestic merger between two institutions, an
MFI and a non-MFI

Result: MFI-1 changes its name. There is one date
of legal effect for this merger (date-1)

Note: The change in the non-MFI is not reported,
only the id details

mfi_req_merger
submerger
date (date-1)
mfi_req_mod (MFI-1)
involved_non_mfi
non_mfi_obj
non_mfi_id

Cross-border merger between two MFIs (MFI-1 in
country X and MFI-2 in country Y), with resulting
MFI located in country X

Result: the licences of both MFI-1 and MFI-2 are
withdrawn. A new institution (MFI-3)
is estab-
lished from the merger,
in country X. Date of
legal effect is date-1

Note: In a cross-border merger, the requests from
all countries involved must be received before the
merger information is implemented. Until then,
each request resides with the status of 'incom-
plete' in the system

Country X sends this request:
mfi_req_merger
submerger
date (date-1)
mfi_req_del (MFI-1, country X)
mfi_req_new (MFI-3, country X)
involved_mfi
mfi_ref (MFI-2, country Y)
Country Y sends this request:
mfi_req_merger
submerger
date (date-1)
mfi_req_del (MFI-2, country Y)
involved_mfi
mfi_ref (MFI-1, country X)
mfi_ref (MFI-3, country X)

Frequency of transmission

15. Transmission of ad hoc updates to the ECB should be effected as soon as the changes in the MFI sector occur.

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Transmission medium and file format

16. Ad hoc updates should be transmitted in XML format, via the N13 Data Exchange System.

17. In the event of failure of the N13 Data Exchange System, updates should be transmitted in XML format via the N13

Cebamail account.

18. For full details of the N13 Data Exchange System for transmission of MFI updates, please refer to the “Exchange

Specification for the N13 Phase II Data Exchange System” document (see the section on “Reference” below).

19. When manual input procedures are used, NCBs should have in place an adequate set of controls to minimise opera-
tional errors and ensure the accuracy and the consistency of the MFI updates reported via the N13 Data Exchange
System.

Validation checks

20. The following data validation checks should be carried out before transmitting MFI updates to the ECB. The ECB
has implemented the same validation checks, hence all updates received by the ECB which pass the validation
checks are automatically implemented in the MFI dataset.

General

(i) All mandatory variables are completed.

(ii) Values for the variable “object_request” are one of seven predefined types:

— “mfi_req_new” (specifies that information on a new MFI is given),

— “mfi_req_mod” (specifies that information on modifications to an existing MFI is given),

— “mfi_req_del” (specifies that information on an existing MFI to be deleted is given),

— “mfi_req_merger” (specifies that information on institutions involved in a merger is given),

— “mfi_req_realloc” (specifies that reallocation of a deleted mfi_id to a new MFI is required),

— “mfi_req_mod_id_realloc” (specifies that a change of the mfi_id of an existing MFI to that of a deleted

MFI is required),

— “mfi_req_mod_id” (specifies that a change of mfi_id is required).

(iii) The national character set can be used when reporting updates to the ECB. Note that when receiving infor-
mation from the ECB, via the N13 Data Exchange System, “Unicode” will be required to display correctly
all special character sets.

(iv) When reporting updates, Greece should use the Roman alphabet.

Id code

(v) The variable “mfi_id” is comprised of two separate parts, a “host” variable and an “id” variable. The values
for the two parts combined should ensure that the mfi_id is unique to that MFI. The “mfi_id” is the
primary key for the MFI dataset.

(vi) The value for the variable “host” for an MFI can only be a two-character country EU ISO code.

(vii) A previously used id code should not be allocated to a new MFI. (In exceptional circumstances, refer to the

section on “MFI id code re-allocation” above.)

(viii) To ensure consistency, use the same id codes as released monthly in the list of MFIs on the ECB's website.

(ix) When reporting an id code change, a specific request “mfi_req_mod_id” should be used.

(x) When reporting an id code change to a previously deleted id code, a specific request “mfi_req_mod_i-

d_realloc” should be used (refer to section on “MFI id code reallocation” above).

(xi) If the variable “mfi_id” is incomplete, incorrect or missing the entire request will be rejected.

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Name

(xii) The full, registered name of the institution at the NCB.

Include the company designation in the name, i.e. Plc, Ltd, SpA, etc. The company designation should be
consistently reported for all names where this is applicable.

(xiii) The lower case convention should be followed to cater for accents.

(xiv) Use lower case, where applicable.

(xv) If the variable “name” is incomplete, incorrect or missing the entire request will be rejected.

Address

(xvi) At least one of the address variables “postal_address”, “postal_box” or “postal_code” should be completed.

The fourth address variable, “city”, is mandatory.

(xvii) For the “postal_address”, indicate the street name and street number of the institution.

(xviii) For “postal_box”, use national box convention systems. No post office box text references should be

placed in front of “postal_box” numbers, which can be alphanumeric.

(xix) For “postal_code”, specify the relevant post code. Use national postal systems conventions. The “postal_-

code” can be alphanumeric.

(xx) If the set of “address” variables is incomplete, incorrect or missing the entire request will be rejected.

City

(xxi) For the variable “city”, specify the city of location.

(xxii) If the variable “city” is incomplete, incorrect or missing the entire request will be rejected.

Category

(xxiii) For the variable “category”, indicate the type of MFI according to four predefined values: “central bank”,
“credit institution”, “money market fund” or “other institution”. Use lower case, except for initial positions,
which should be in upper case.

(xxiv) If the variable “category” is incomplete, incorrect or missing the entire request will be rejected.

Report

(xxv) For the variable “report”, indicate if the MFI is subject to full reporting requirements (true) or alternatively

is part of the tail (false). Only one of these two predefined values will be accepted.

(xxvi) If the variable “report” is incomplete, incorrect or missing the entire request will be rejected.

Order

(xxvii) For the variable “order_r”, indicate the desired order of the list of MFIs, if the English alphabetical order is

not applicable. Assign a numeric value to each MFI in ascending order.

(xxviii) The variable “order_r” is not mandatory. If this is incomplete or missing (and all other validation checks

are fulfilled), the request will be implemented in the MFI dataset.

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Foreign branch checks

(xxix) A value for the variable “head_of_branch” must be completed, if the MFI is a foreign branch.

(xxx) For the variable “head_of_branch”, indicate the type of head office according to one of three predefined

variables: “non_eu_head”, “eu_non_mfi_head_” or “eu_mfi_head”.

(xxxi) If the variable “head_of_branch” is given as “non_eu_head” (a non-EU resident head office) the host and

name of the head office should be given.

(xxxii) If the variable “head_of_branch” is given as “eu_non_mfi_head” (an EU resident head office, which is not
an MFI) the host, name and id of the head office should be given. The id of the non_mfi can be either
“OFI” (other financial institution) or a two-character ISO country code followed by a suffix referring to the
appropriate sectoral classification of the ESA 95 (1).

(xxxiii) If the variable “head_of_branch” is an “eu_mfi_head” (an MFI), the host and id of the head office should be
given. Please refer to the latest month's list of MFIs available on the ECB's website for the most up to date
MFI id information.

(xxxiv) If the variable “head_of_branch” is an “eu_mfi_head” (an MFI), the name of the head office should not be
given. As part of the ECB's validation checking mechanism, there is an automatic update of head office
names of all EU-resident foreign branches, where the id of the head office is provided. This is done for the
entire MFI dataset, each time an MFI is reported and there is a change to the “name” variable.

(xxxv) If any of the above validation checks (xii to xvii) are violated, the entire request will be rejected.

(xxxvi) There are two cases in which inconsistent head office information will prevail in the ECB's MFI dataset:

— if the variable “head_of_branch” is given as an “eu_mfi_head” but the id of the head office does not
match that in the ECB's MFI dataset, the request will still be implemented. However, the name of the
head office will not be contained in the ECB's MFI dataset,

— if an MFI id code change request is sent, it is possible that head office information pertaining to

foreign branches resident in other Member States, of that MFI, will become inconsistent.

To mitigate this inaccuracy, the N13 Data Exchange System sends a list of inconsistent head office infor-
mation within acknowledgements sent to NCBs.

Mergers checks

(xxxvii) The variable “mfi_req_merger” is mandatory, when reporting domestic or cross-border mergers.

(xxxviii) The variable “submerger” is mandatory. Each group (i.e. two or more institutions) sharing the same “date”

of legal effect of merger activity should be reported under a separate “submerger” tag.

(xxxix) When the variable “submerger” is specified, a value for the variable “date” should be completed. Comple-

tion of the variable “date” is mandatory.

(xl) At least one institution involved in a merger should be an MFI (i.e. it is not possible to report mergers

only between non-MFIs).

(xli) If there is no change in the attributes of an MFI as a result of merger activity, this MFI should be reported
as a modification (i.e. “mfi_req_mod”). This is in order to ensure that all MFIs involved in a merger are
reported.

(xlii) The variable “involved_mfi” is mandatory only when reporting cross-border mergers (i.e. the “invol-

ved_mfi” will contain information on the institution resident in another Member State).

(1) The European System of Accounts 1995, contained in Annex A to Council Regulation (EC) No 2223/96 of 25 June 1996 on the
European system of national and regional accounts in the Community (OJ L 310, 30.11.1996, p. 1). Regulation as last amended by
Regulation (EC) No 1267/2003 of the European Parliament and of the Council (OJ L 180, 18.7.2003, p. 1).

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(xliii) If an institution is specified as an “involved_mfi”, the variable “mfi_ref” should be completed.

(xliv) The variable “mfi_ref” is comprised of two parts: “mfi_id” (which consists of the “host” and “id” of the insti-

tution) and “name”.

(xlv) Cross-border merger information will not be implemented in the ECB's MFI dataset, unless complete

merger requests from all involved Member States have been reported and validated.

(xlvi) If an institution is specified as an “involved_non_mfi”, the “non_mfi_id” and “name” should be completed.

(xlvii) The “non_mfi_id” of an “involved_non_mfi” is comprised of two parts: “host” and “id”, and is five charac-
ters in length. The “host” is a two-character ISO country code. The “id” is three characters in length and
refers to the appropriate sectoral classification of the ESA95.

(xlviii) If any of the above validation checks (xx to xxx) are violated, the entire request will be rejected.

MFI-MPEC cross-check

21. If a cross-check of data between the MFI and MPEC datasets is required, place a cross-check flag in the file being

transmitted in the N13 Data Exchange System.

22. The cross-check is carried out on the complete MFI and MPEC information reported by the sender NCB (i.e.
including existing MFI and MPEC information in the respective datasets) and not just on the information received in
the file containing the flag. The results are returned immediately in the form of an acknowledgement. The cross-
check flag should be utilised in the following way:

— where MFI and MPEC data can be coordinated between respective business areas, the cross-check flag should be

included only in the second file transmitted for the corresponding MFI or MPEC request,

— where coordination is not feasible, an additional message containing only the cross-check flag should be trans-

mitted at the end of the day. This message could be sent by one or both of the MFI-MPEC business areas,

— where a cross-check is not required immediately for MFI-MPEC consistency, the flag should not be placed in the

file,

— where the check is required for execution later in the day, the data should be sent without the cross-check flag.
An empty file with the cross-check flag should be sent subsequently. In this case, as there is no data to check in
the empty file, the cross-check is performed at once,

— The acknowledgement will contain only the result of the cross-check between the MFI and the MPEC datasets of

the sender.

23. An MFI-MPEC cross-check provides a warning only. Hence, if the cross-check fails, the request will still be imple-

mented in the ECB's MFI dataset.

24. MFI and MPEC discrepancies are checked by the respective MFI and MPEC business areas, five working days prior
to, and on the day of, the end-month release. NCBs are reminded, via e-mail, to resolve discrepancies urgently. If
discrepancies cannot be resolved before the release, NCBs are requested to provide an explanation. Note that incon-
sistent MFI-MPEC records will not be published on the ECB's website at the end of each month.

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Error handling

25. Upon receipt of a file containing MFI updates, an acknowledgement is transmitted immediately back to the sender.

The acknowledgement is one of two types:

(i) acquisition acknowledgement:

this contains summary information of

the MFI updates which have been

processed and implemented successfully in the MFI dataset;

(ii) error acknowledgement: this contains detailed information on the MFI updates and the validation checks which
have failed. Please refer to the section on “Validation checks” above for specific information on whether failure
of the validation check would result in a rejection of the entire request, or an implementation of the request
supplemented with a warning.

26. Upon receipt of an error acknowledgement, immediate action should be taken to transmit corrected information. If
correct information is dependent on updates sent by other Member States during the course of the latest month (i.e.
not available on the ECB's website), please contact the ECB via the N13 Cebamail account, with specific details of
information required.

Annual quality control exercise

27. The purpose of this mandatory annual exercise is to extensively check the existing list of MFIs at the ECB, with a

particular focus on checking foreign branches.

28. The timing of the exercise is targeted towards ensuring that the end-of-year release of updated MFI sector informa-
tion on the ECB's website, and subsequently as a hard-copy publication, is as accurate and up to date as possible.

29. The NCBs should follow the guidelines set out below in order to carry out the standardised updating procedure in a
timely and accurate manner, and to ensure that the information is processed in a comprehensive and efficient
manner at the level of both the NCBs and the ECB.

General procedures

(i) Each NCB will be sent a single Excel file, containing four worksheets (Reports 1 to 4) which include one blank
template. These will be sent via Cebamail from the ECB and dated as at close of business on the last working
day of October (time tag T).

(ii) Note that “T” refers to working days.

(iii) The reports and the checks to be performed are specified below.

Report 1: The national list of MFIs

This is a country specific (national) list of MFIs, as listed in the ECB's dataset, which NCBs should compare with
their own national list of MFIs.

— Each correct institution in this report should be ticked in the column entitled “Comments”.

— If there are any differences between the two lists, then these should be specified appropriately in the column
entitled “Comments”. Please indicate exactly what the difference is, i.e. modification is required (which attribute
is modified and what the value should be), or record should be deleted (specify why), etc. Please also specify if
you will send/have sent a correction for this record via the N13 Data Exchange System and state the IREF
number in the column entitled “IREF”.

— If a record is missing, then the entire record details should be added to Report 1 (i.e. as an additional record).
Please specify in the “Comments” column that this is a “new record” (specify why). Please also specify if you will
send/have sent a correction for this record via the N13 Data Exchange System and state the IREF number in the
column entitled “IREF”.

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Report 2: A list of foreign branches resident in the specific NCB's country

NCBs should ensure that the information on foreign branches of MFIs resident in their own countries is complete,
accurate and up to date.

— Each correct institution in this report should be ticked in the column entitled “Comments”.

— If there are any modifications, then these should be specified appropriately in the column entitled “Comments”.
Please indicate exactly what the difference is, i.e. modification is required (which attribute is modified and what
the value should be), or record should be deleted (specify why), etc. Please also specify if you will send/have sent
a correction for this record via the N13 Data Exchange System and state the IREF number in the column entitled
“IREF”.

— If a foreign branch is missing, then the entire record details should be added to Report 2 (i.e. as an additional
record). Please specify in the “Comments” column that this is a “new record” (specify why). Please also specify if
you will send/have sent a correction for this record via the N13 Data Exchange System and state the IREF
number in the column entitled “IREF”.

Report 3: A list of foreign branches, of which the head office has been reported by other NCBs as resident within the specific
NCB's country

This is for cross-checking the MFI sector as far as coverage of the foreign branches of MFIs is concerned. NCBs
should check to ensure that all foreign branches resident in other EU countries which have a head office located in
the NCB's country have been reported by other NCBs.

— Each correct institution in this report should be ticked in the column entitled “Comments”.

— If there are any modifications, then these should be specified appropriately in the column entitled “Comments”.
Please indicate exactly what the difference is, i.e. modification is required (which attribute is modified and what
the value should be), or record should be deleted (specify why), etc.

— If a foreign branch is missing, then the entire record details should be added to Report 3 (i.e. as an additional

record). Please specify in the “Comments” column that this is a “new record” (specify why).

Report 4: Template for cover pages

This is a blank template, in which each NCB should specify how many cover pages it requires for the hard-copy
publication of the list of MFIs, due for release in the first quarter of the following year.

Time frame for reporting

(iv) The NCBs have nine working days (T+9) in which to check the reports and to confirm the accuracy of the
data. Completed reports are transmitted back to the ECB via the N13 Cebamail account with indications of
whether the data are correct or not (as specified above).

(v) In parallel,

if data are incorrect, NCBs should make corrections and transmit updates via the N13 Data
Exchange System to the ECB within these nine working days (T+9). In the reports sent back to the ECB, the
IREF number of the corrected data should be quoted in all cases. Note: NCBs can continue sending ad hoc
updates, not associated with the annual quality control exercise, as usual, via the N13 Data Exchange System.

(vi) Either acquisition or error acknowledgements will be transmitted automatically to the NCBs upon receipt of
the corrected data, via the N13 Data Exchange System (during T+9). If an error acknowledgement is received,
NCBs should immediately provide corrections.

(vii) The ECB will spend two working days (T+11) checking all incoming reports and corrections. As stated above,

NCBs should indicate the IREF number in the returned reports, if sending corrections.

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(viii) NCBs will be contacted further via Cebamail if there are any outstanding issues (T+12).

(ix) NCBs have two working days to provide further corrections or explanations in the case of contradictory

data(T+14).

(x) The ECB will send a final report of the status quo concerning the MFI sector to NCBs via Cebamail (T+15). A

summary of the results of the annual quality control exercise is also provided.

(xi) All remaining contradictory data will be considered “outstanding” and be discussed at the following Working

Group on Money and Banking Statistics meeting.

Summary table

(xii) The table below provides a summary of the dates, tasks, mediums of transmission and responsible organisa-

tions for the annual quality control exercise concerning the list of MFIs.

Time tag

T

Tasks

Medium

Action by

ECB sends an Excel file with the following four reports to
NCBs:

Cebamail

ECB

Report 1: National list of MFIs

Report 2: List of foreign branches resident in the specific
NCB's country

Report 3: List of foreign branches, of which the head office
has been reported by other NCBs as resident within the
specific NCB's country

Report 4: Template for cover pages

T + 9

NCBs compare the three ECB reports (1 to 3) with their own
national lists dated as cob, last working day in October. For
each report, the following should be completed:
— the “Comments” field (for all records),
— the “REF” field (Reports 1 and 2 only: for incorrect records
or new records, where an update has been transmitted to
the ECB)

NCBs

Cebamail/
N13 Data
Exchange
System

NCBs complete Report 4, on the number of cover pages
required for the hard-copy publication

NCBs transmit the following information back to the ECB, by
latest cob on day T+9:
— the Excel file with completed Reports 1-4 (via Cebamail),
— any corrections/new records (via the N13 Data Exchange

System)

T + 11

ECB checks all
incoming reports, corrections and acknowl-
edgements, received via Cebamail and the N13 Data Exchange
System

ECB

T + 12

NCBs will be contacted further via Cebamail if there are any
contradictory data.

Cebamail

ECB

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Time tag

T + 14

NCBs have two working days to provide further corrections
or explanations in the case of contradictory data.

Tasks

Medium

Action by

NCBs

Cebamail/
N13 Data
Exchange
System

Cebamail

ECB

T + 15

ECB sends a final report of the status quo concerning the MFI
sector to NCBs via Cebamail. A summary of the results of the
annual quality control exercise is also sent

Distribution of the draft list of MFIs (as a.pdf file) to NCBs, for
comments

Cebamail

ECB/NCBs

Submission of draft list of MFIs hard-copy publication to the
Governing Council

— Issue of press release
— Distribution of the list of MFIs hard-copy publication, and

the relevant number of cover pages, to NCBs

Post/Ceba-
mail/
Internet

— Distribution of the.pdf file of the publication to NCBs
— Release of the list of MFIs on the ECB's website

ECB

ECB

Contingency procedures

(xiii) Contingency procedures enter into force in the following cases:

for MFI sector reports

— if the Cebamail system is not available for transmitting the MFI sector reports, the ECB will send these (in
Excel format) via e-mail. NCBs should also use e-mail (1) to send back the completed reports to the ECB,

for MFI updates and corrections

— if the N13 Data Exchange System is not available for transmitting corrections, NCBs, where applicable,

should submit the information using the XML data format, via the Cebamail system,

— if the Cebamail system is not operational for file transfer of MFI updates/corrections, NCBs should use e-

mail (1) to send updates in XML data format,

(xiv) if any NCB is closed on any day on which the abovementioned procedures have to be carried out, that NCB
shall ensure that the procedures are initiated and completed according to the above timetable before the day
or days of its closure.

Dissemination

Daily dissemination to NCBs via the N13 Data Exchange System

30. MFI updates will be disseminated every working day. A snapshot of all changes implemented in the current list of
MFIs will be taken every working day at 17.00 ECB-time and disseminated to all NCBs. The dissemination will
contain the full details of each of the following changes reported by NCBs:

— new MFIs,

— updated MFIs,

— deleted MFIs,

— reallocation of MFI id codes,

— change of MFI id codes,

— change of MFI id codes involving reallocation.

(1) The address is: mfi.hotline@ecb.int.

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Monthly updating of the list of MFIs on the ECB's website

31. On the last working day of each calendar month, a snapshot of the MFI dataset as at 17.00 ECB-time is taken. Note

that inconsistent MFI-MPEC records will not be part of the snapshot.

32. The list of MFIs is made available to the public one day after the snapshot has been taken. If the snapshot is taken
at 17.00 ECB-time on a Friday, the updated information will become available at 12.00 ECB-time on Saturday.

Monthly dissemination to NCBs via the N13 Data Exchange System

33. At the same time as the list of MFIs is released on the ECB's website, it will be sent to the NCBs via the N13 Data

Exchange System.

Annual hard-copy publication

34. Once a year, the ECB will publish a hard-copy version of the list of MFIs, with a reference date as at the end of
December of the previous year. This publication will be available to the general public, before the end of the first
quarter of the following year. The ECB will disseminate one master hard copy, together with the relevant number of
cover pages required, to NCBs via the postal system. In parallel, a.pdf version of the publication will be sent to the
NCBs via Cebamail. The.pdf version will also be published on the ECB's website.

Reference

35. “Exchange Specification for the N13 Phase II Data Exchange System”. This document deals with the exchange of
files between NCBs and the ECB. It covers the exchange protocol, the exchange infrastructure and file formats
exchanged making up the interface between the ECB's and NCBs' internal systems. The document consists of two
major parts, the “Functional” part and the “Technical” part. Each is described below:

Functional part
— functional details (logical exchange protocol, i.e. sequence of acknowledgements expected on sending of infor-

mation, etc.),
— logical data model,
— structure of information to be exchanged,
— contents (not formatting) of acknowledgements,
— business validation rules, i.e. the validation of logical information (e.g. the maturity date should be a future

date), but not syntax validation, and the reflection of these rules in error acknowledgements.

Technical part
— physical exchange systems to be used (FTPC/X400 services on the ESCB-net); exact use of these systems,
— technical view of the exchange protocol,
— exchange format definition (i.e. the XML Schema).

36. List of two-character ISO country codes.’

Appendix