Guideline of the European Central Bank of 31 May 2007 amending Guideline ECB/2004/15 on the statistical reporting requirements of the European Central Bank in the field of balance of payments and international investment position statistics, and the international reserves template (ECB/2007/3)
Date: 2007-05-31
Institutions: European Central Bank
Subjects: European System of Central Banks, balance of payments, data collection, disclosure of information, economic statistics, euro area, foreign-exchange reserves, international investment

L 159/48

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Official Journal of the European Union

20.6.2007

GUIDELINES

EUROPEAN CENTRAL BANK

GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 31 May 2007

amending Guideline ECB/2004/15 on the statistical reporting requirements of the European Central
Bank in the field of balance of payments and international investment position statistics, and the
international reserves template

(ECB/2007/3)

(2007/426/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
Article 5.1 and 5.2 thereof,

Whereas:

(1)

data

requirements

Due to changing needs resulting from economic and
is necessary to regularly
technical developments,
it
Guideline
in
the
update
ECB/2004/15 of 16 July 2004 on the
statistical
reporting requirements of the European Central Bank in
the field of balance of payments and international
international
investment position statistics,
reserves template (1), and to readjust
the
breakdown required under that Guideline.

the level of

and the

(2) When further Member States adopt the euro, it will be
the euro area
necessary to compile back data for
in its new composition, on balance of
aggregate
payments
(including the seasonally adjusted current
account) and international investment position statistics.
to Guideline ECB/2004/15 are
Certain amendments
therefore required to cater for future enlargements of
the euro area in respect of the provision of back data.
The period for which such back data must be provided
may be reassessed by 2010.

(3)

The Nationale Bank van België/Banque Nationale de
Belgique is responsible for providing back data for both
Belgium and Luxembourg prior to January 2002 and
therefore can only provide joint back data for Belgium
and Luxembourg prior to January 2002.

(1) OJ L 354, 30.11.2004, p. 34.

referred to in Annex VI

The availability of a functioning Centralised Securities
for
Database (CSDB) of sufficient quality is essential
ensuring the smooth operation of security-by-security
fulfilling the target
data collection systems and for
coverage
to Guideline
specified in that
the quality level
ECB/2004/15 at
Guideline. The Governing Council, having regard to
any observations by the General Council, will assess, in
the course of 2007 and afterwards if relevant, whether
the quality (including coverage) of the securities infor-
mation in the CSDB and the arrangements for data
to
exchange with the Member States are sufficient
enable
other
competent statistical authorities where relevant, to meet
the quality standards specified in Guideline ECB/2004/15,

national

(NCBs),

central

banks

or

HAS ADOPTED THIS GUIDELINE:

Guideline ECB/2004/15 is amended as follows:

Article 1

1. Article 2 is amended as follows:

(a) Paragraph 6 is replaced by the following:

From March 2008,

‘6.
starting with data corre-
sponding to January 2008 transactions and to end-
2007 positions, portfolio investment collection systems
shall conform to one of the models set out in the table
contained in Annex VI. The chosen model may be
phased in to enable the individual NCB to reach the
target coverage indicated in Annex VI at the latest by
March 2009, in relation to December 2008 stocks.’

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(b) The following paragraph 7 is added:

2. Article 3 is amended as follows:

‘7. (a)

In respect of any Member State that adopts the
euro on or after 1 January 2007, both the NCB
of that Member State and the NCBs of all other
participating Member States at
the time such
Member State adopts the euro shall provide the
ECB with back data corresponding to the data
required under Tables 1 to 8 of Annex II, to
enable the compilation of aggregates covering
the euro area in its new composition. These
shall provide the back data from the
NCBs
reference
the
exception of the breakdowns listed under Table
13, for which the earliest reference period to be
reported shall be the one indicated in that table.
All back data may be provided on a best estimate
basis.

below, with

dates

out

set

(i) If the Member State that adopts the euro
joined the EU before May 2004, the back
data shall cover, as a minimum, the period
from 1999.

(ii) If the Member State that adopts the euro
joined the EU in May 2004, the back data
shall cover, as a minimum, the period from
2004.

(iii) If the Member State that adopts the euro
joined the EU after May 2004,
the back
data shall cover, as a minimum, the period
from the date on which that Member State
joined the EU.

already

(b) If the back data referred to in subparagraph (a) do
observations
include monthly
not
covering five years for each of the four main
the balance of payments current
sub-items of
account, namely goods,
income and
services,
current
then the NCBs shall ensure
transfers,
that the data which they provide include such
observations.

(c) By derogation from subparagraph (a), the Banque
centrale du Luxembourg shall not be required to
transmit back data
the period ending
for
December 2001 and the Nationale Bank van
België/Banque Nationale
shall
transmit
for Belgium and
the period ending December
Luxembourg for
2001.’

joint back data

Belgique

de

Paragraph 6 is replaced by the following:

‘6.
Transactions and positions in debt securities broken
down by currency of issue shall be made available to the
ECB within six months of the end of the period to which the
data relate.’

3. Article 6 is amended as follows:

The following new paragraph 4a is inserted after para-
graph 4:

‘4a.
breakdowns in Table 2 of Annex II:

Best estimates shall be permitted for the following

(a) sub-items of income on other investment: I C 2.3.1 to

C 2.3.3, and memorandum items 1 to 4;

(b) sub-items of current transfers: I D 1.1 to D 1.8 and

D 2.2.1 to D 2.2.11; and

(c) sub-items of capital transfers: II A.1 and A.2.’

4. Annexes

II,

III and VI

to Guideline ECB/2004/15 are
amended in accordance with Annexes I, II and III, respec-
tively, to this Guideline.

Article 2

Entry into force

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

Article 3

Addressees

This Guideline is addressed to the NCBs of the Member States
that have adopted the euro.

Done at Frankfurt am Main, 31 May 2007.

For the Governing Council of the ECB
The President of the ECB

Jean-Claude TRICHET

L 159/50

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Annex II to Guideline ECB/2004/15 is amended as follows:

1. Table 2 is replaced by the following:

ANNEX I

‘TABLE 2

Monthly national contributions to the euro area balance of payments (1)

Credit

Debit

Net

I. Current account

A. Goods

B. Services

C. Income

1. Compensation of employees

2. Investment income

2.1. Direct investment

2.1.1. Income on equity

2.1.1.1. Dividends and distributed profit

2.1.1.2. Reinvested earnings and undistributed profit

2.1.2. Income on debt (interest)

2.2. Portfolio investment

2.2.1. Income on equity

2.2.2. Income on debt (interest)

2.2.2.1. Bonds and notes

2.2.2.2. Money market instruments

2.3. Other investment

2.3.1. Interest according to BPM5 (not adjusted for FISIM (2))

2.3.2. Income attributed to insurance policyholders

2.3.3. Other

Memorandum item:

1.

investment income — interest according to the SNA93 (3) (adjusted for FISIM)

2. value of FISIM

3.

4.

investment income — interest according to BPM5 (not adjusted for FISIM)

investment income — other than interest

D. Current transfers

1. General government

1.1. taxes on products

1.2. other taxes on production

1.3. subsidies on products

1.4. other subsidies on production

1.5. taxes on income, wealth, etc.

1.6. social contributions

1.7. social benefits other than social transfers in kind

1.8. other current transfers of general government

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

national

national

national

national

national

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

20.6.2007

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Official Journal of the European Union

L 159/51

Credit

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

Debit

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

Net assets

Net liabilities

2. Other sectors

2.1. workers’ remittances

2.2. other transfers

2.2.1.

taxes on products

2.2.2.

other taxes on production

2.2.3.

subsidies on products

2.2.4.

other subsidies on production

2.2.5.

taxes on income, wealth, etc.

2.2.6.

social contributions

2.2.7.

social benefits other than social transfers in kind

2.2.8. net non-life insurance premiums

2.2.9. non-life insurance claims

2.2.10. other current transfers of other sectors not included elsewhere

2.2.11. adjustment for the change in net equity of households in pension

fund reserves

II. Capital account

A. Capital transfers

1. capital taxes

2.

investment grants and other capital transfers

B. Acquisition/disposal of non-produced non-financial assets

III. Financial account

1. Direct investment

1.1. Abroad

1.1.1. Equity capital

1.1.1.1. MFIs (excluding central banks)

1.1.1.2. Other sectors

1.1.2. Reinvested earnings

1.1.2.1. MFIs (excluding central banks)

1.1.2.2. Other sectors

1.1.3. Other capital

1.1.3.1. MFIs (excluding central banks)

1.1.3.2. Other sectors

1.2. In the reporting country

1.2.1. Equity capital

1.2.1.1. MFIs (excluding central banks)

1.2.1.2. Other sectors

1.2.2. Reinvested earnings

1.2.2.1. MFIs (excluding central banks)

1.2.2.2. Other sectors

1.2.3. Other capital

1.2.3.1. MFIs (excluding central banks)

1.2.3.2. Other sectors

Net

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

Net

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

L 159/52

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20.6.2007

Net assets

Net liabilities

Net

intra/extra

intra/extra

intra/extra

national

national

national

2. Portfolio investment

2.1. Equity securities

of which: Investment funds and money market funds shares:

(i) held by monetary authorities

(ii) held by general government

(iii) held by MFIs (excluding central banks)

(iv) held by other sectors

2.1.1. Held by monetary authorities

2.1.2. Held by general government

2.1.3. Issued by MFIs (excluding central banks)

2.1.4. Held by MFIs (excluding central banks)

2.1.5. Issued by other sectors

2.1.6. Held by other sectors

2.2. Debt securities

2.2.1. Bonds and notes

2.2.1.1. Issued by monetary authorities

2.2.1.2. Held by monetary authorities

2.2.1.3. Issued by general government

2.2.1.4. Held by general government

2.2.1.5. Issued by MFIs (excluding central banks)

2.2.1.6. Held by MFIs (excluding central banks)

2.2.1.7. Issued by other sectors

2.2.1.8. Held by other sectors

extra

extra

extra

extra

extra

extra

intra

extra

intra

extra

intra/extra

intra/extra

intra

extra

intra

extra

intra

extra

intra

extra

2.2.2. Money market instruments

intra/extra

2.2.2.1. Issued by monetary authorities

2.2.2.2. Held by monetary authorities

2.2.2.3. Issued by general government

2.2.2.4. Held by general government

2.2.2.5. Issued by MFIs (excluding central banks)

2.2.2.6. Held by MFIs (excluding central banks)

2.2.2.7. Issued by other sectors

2.2.2.8. Held by other sectors

3. Financial derivatives

3.1. Monetary authorities

3.2. General government

3.3. MFIs (excluding central banks)

3.4. Other sectors

4. Other investment

4.1. Monetary authorities

4.1.1. Loans/currency and deposits

4.1.2. Other assets/liabilities

intra

extra

intra

extra

intra

extra

intra

extra

extra

extra

extra

extra

national

national

national

national

national

national

national

national

national

national

national

national

national

extra

extra

extra

extra

national

national

national

national

national

extra

20.6.2007

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Net assets

Net liabilities

Net

4.2. General government

4.2.1. Trade credits

4.2.2. Loans/currency and deposits

4.2.2.1. Loans

4.2.2.2. Currency and deposits

4.2.3. Other assets/liabilities

4.3. MFIs (excluding central banks)

4.3.1. Loans/currency and deposits

4.3.2. Other assets/liabilities

4.4. Other sectors

4.4.1. Trade credits

4.4.2. Loans/currency and deposits

4.4.2.1. Loans

4.4.2.2. Currency and deposits

4.4.3. Other assets/liabilities

5. Reserve assets

5.1. Monetary gold

5.2. Special drawing rights

5.3. Reserve position in the IMF

5.4. Foreign exchange

5.4.1. Currency and deposits

5.4.1.1. with monetary authorities and the BIS

5.4.1.2. with MFIs (excluding central banks)

5.4.2. Securities

5.4.2.1. Equities

5.4.2.2. Bonds and notes

5.4.2.3. Money market instruments

5.4.3. Financial derivatives

5.5. Other claims

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

(1) “extra”
“intra”
“national” means all cross-border transactions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts

means transactions with non-euro area residents (for portfolio investment assets and related income it refers to the residency of the issuers)
means transactions between different Member States of the euro area

and the net balance of the financial derivatives accounts)

(2) Financial intermediation services indirectly measured.
(3) System of National Accounts 1993.’

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Net

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

national

2. Table 4 is replaced by the following:

‘TABLE 4

Quarterly national contributions to the euro area international investment position (1)

Assets

Liabilities

I. Direct Investment

1.1. Abroad

1.1.1. Equity and reinvested earnings

1.1.1.1. MFIs (excluding central banks)

1.1.1.2. Other sectors

1.1.2. Other capital

1.1.2.1. MFIs (excluding central banks)

1.1.2.2. Other sectors

1.2. In the reporting economy

1.2.1. Equity and reinvested earnings

1.2.1.1. MFIs (excluding central banks)

1.2.1.2. Other sectors

1.2.2. Other capital

1.2.2.1. MFIs (excluding central banks)

1.2.2.2. Other sectors

II. Portfolio Investment

2.1. Equity securities

of which: Investment funds and money market funds shares:

(i) held by monetary authorities

(ii) held by general government

(iii) held by MFIs (excluding central banks)

(iv) held by other sectors

2.1.1. Held by monetary authorities

2.1.2. Held by general government

2.1.3. Issued by MFIs (excluding central banks)

2.1.4. Held by MFIs (excluding central banks)

2.1.5. Issued by other sectors

2.1.6. Held by other sectors

2.2. Debt securities

2.2.1. Bonds and notes

2.2.1.1. Issued by monetary authorities

2.2.1.2. Held by monetary authorities

2.2.1.3. Issued by general government

2.2.1.4. Held by general government

2.2.1.5. Issued by MFIs (excluding central banks)

2.2.1.6. Held by MFIs (excluding central banks)

2.2.1.7. Issued by other sectors

2.2.1.8. Held by other sectors

intra/extra

intra/extra

national

national

extra

extra

extra

extra

extra

extra

intra

extra

intra

extra

intra/extra

intra/extra

intra

extra

intra

extra

intra

extra

intra

extra

national

national

national

national

national

national

national

national

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Official Journal of the European Union

2.2.2. Money market instruments

2.2.2.1. Issued by monetary authorities

2.2.2.2. Held by monetary authorities

2.2.2.3. Issued by general government

2.2.2.4. Held by general government

2.2.2.5. Issued by MFIs (excluding central banks)

2.2.2.6. Held by MFIs (excluding central banks)

2.2.2.7. Issued by other sectors

2.2.2.8. Held by other sectors

III. Financial derivatives

3.1. Monetary authorities

3.2. General government

3.3. MFIs (excluding central banks)

3.4. Other sectors

IV. Other investment

4.1. Monetary authorities

4.1.1. Loans/currency and deposits

4.1.2. Other assets/liabilities

4.2. General government

4.2.1. Trade credits

4.2.2. Loans/currency and deposits

4.2.2.1. Loans

4.2.2.2. Currency and deposits

4.2.3. Other assets/liabilities

4.3. MFIs (excluding central banks)

4.3.1. Loans/currency and deposits

4.3.2. Other assets/liabilities

4.4. Other sectors

4.4.1. Trade credits

4.4.2. Loans/currency and deposits

4.4.2.1. Loans

4.4.2.2. Currency and deposits

4.4.3. Other assets/liabilities

V. Reserve assets

5.1. Monetary gold

5.2. Special drawing rights

5.3. Reserve position in the IMF

5.4. Foreign exchange

5.4.1. Currency and deposits

5.4.1.1. with monetary authorities and the BIS

5.4.1.2. with MFIs (excluding central banks)

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Net

extra

extra

extra

extra

extra

extra

Liabilities

national

national

national

national

national

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

Assets

intra/extra

intra

extra

intra

extra

intra

extra

intra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

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5.4.2. Securities

5.4.2.1. Equities

5.4.2.2. Bonds and notes

5.4.2.3. Money market instruments

5.4.3. Financial derivatives

5.5. Other claims

Assets

Liabilities

Net

extra

extra

extra

extra

extra

extra

(1) “extra”
“intra”
“national” means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’

means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers)
means positions between different Member States of the euro area

3. Table 5 is replaced by the following:

Annual national contributions to the euro area international investment position (1)

‘TABLE 5

Assets

Liabilities

I. Direct investment

1.1. Abroad

1.1.1. Equity and reinvested earnings

1.1.1.1. MFIs (excluding central banks)

1.1.1.2. Other sectors

of which:

1.1.1.A Equity stocks in foreign listed companies (market values)

1.1.1.B Equity stocks in foreign unlisted companies (book value)

Memorandum item:

— Equity stocks in foreign listed companies (book values)

1.1.2. Other capital

1.1.2.1. MFIs (excluding central banks)

1.1.2.2. Other sectors

1.2. In the reporting economy

1.2.1. Equity and reinvested earnings

1.2.1.1. MFIs (excluding central banks)

1.2.1.2. Other sectors

of which:

1.2.1.A Equity stocks in euro area listed companies (market values)

1.2.1.B Equity stocks in euro area unlisted companies (book values)

Memorandum item:

— Equity stocks in euro area listed companies (book values)

1.2.2. Other capital

1.2.2.1. MFIs (excluding central banks)

1.2.2.2. Other sectors

Net

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

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Assets

Liabilities

Net

national

intra/extra

intra/extra

national

national

II. Portfolio Investment

2.1. Equity securities

of which: Investment funds and money market funds shares:

(i) held by monetary authorities

(ii) held by general government

(iii) held by MFIs (excluding central banks)

(iv) held by other sectors

2.1.1. Held by monetary authorities

2.1.2. Held by general government

2.1.3. Issued by MFIs (excluding central banks)

2.1.4. Held by MFIs (excluding central banks)

2.1.5. Issued by other sectors

2.1.6. Held by other sectors

2.2. Debt securities

2.2.1. Bonds and notes

2.2.1.1. Issued by monetary authorities

2.2.1.2. Held by monetary authorities

2.2.1.3. Issued by general government

2.2.1.4. Held by general government

2.2.1.5. Issued by MFIs (excluding central banks)

2.2.1.6. Held by MFIs (excluding central banks)

2.2.1.7. Issued by other sectors

2.2.1.8. Held by other sectors

2.2.2. Money market instruments

intra/extra

2.2.2.1. Issued by monetary authorities

2.2.2.2. Held by monetary authorities

2.2.2.3. Issued by general government

2.2.2.4. Held by general government

2.2.2.5. Issued by MFIs (excluding central banks)

2.2.2.6. Held by MFIs (excluding central banks)

2.2.2.7. Issued by other sectors

2.2.2.8. Held by other sectors

III. Financial derivatives

3.1. Monetary authorities

3.2. General government

3.3. MFIs (excluding central banks)

3.4. Other sectors

IV. Other investment

4.1. Monetary authorities

4.1.1. Loans/currency and deposits

4.1.2. Other assets/liabilities

intra

extra

intra

extra

intra

extra

intra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

intra

extra

intra

extra

intra/extra

intra/extra

intra

extra

intra

extra

intra

extra

intra

extra

national

national

national

national

national

national

national

national

national

national

national

national

national

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

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Assets

Liabilities

Net

4.2. General government

4.2.1. Trade credits

4.2.2. Loans/currency and deposits

4.2.2.1. Loans

4.2.2.2. Currency and deposits

4.2.3. Other assets/liabilities

4.3. MFIs (excluding central banks)

4.3.1. Loans/currency and deposits

4.3.2. Other assets/liabilities

4.4. Other sectors

4.4.1. Trade credits

4.4.2. Loans/currency and deposits

4.4.2.1. Loans

4.4.2.2. Currency and deposits

4.4.3. Other assets/liabilities

V. Reserve assets

5.1. Monetary gold

5.2. Special drawing rights

5.3. Reserve position in the IMF

5.4. Foreign exchange

5.4.1. Currency and deposits

5.4.1.1. with monetary authorities and the BIS

5.4.1.2. with MFIs (excluding central banks)

5.4.2. Securities

5.4.2.1. Equities

5.4.2.2. Bonds and notes

5.4.2.3. Money market instruments

5.4.3. Financial derivatives

5.5. Other claims

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

extra

(1) “extra”
“intra”
“national” means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’

means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers)
means positions between different Member States of the euro area

20.6.2007

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4. Table 9 is replaced by the following:

‘TABLE 9

ECB geographical breakdowns for quarterly balance of payments flows and annual international investment position data

— Denmark

— Sweden

— United Kingdom

— EU Member States outside the euro area and excluding Denmark, Sweden and the United Kingdom (1)

— EU institutions (2)

— Switzerland

— Canada

— United States

— Japan

— Offshore centres (3)

— of which: Hong Kong

— International organisations excluding the EU institutions (4)

— Brazil

— China

— India

— Russian Federation

___________
(1) No individual breakdown is required.
(2) See composition in Table 12. No individual breakdown is required.
(3) Only mandatory for the balance of payments financial account, the related income accounts and the international investment position. Current account (excluding
income) flows vis-à-vis offshore centres may be reported either separately or indistinguishably under the residual item category. See composition in Table 11. No
individual breakdown is required.

(4) See composition in Table 12. No individual breakdown is required.’

5. Table 13 is amended by inserting the following rows at the end of the Table:

‘Income on equity breakdown

Quarterly b.o.p.

Items I. C.2.1.1.1 and C.2.1.1.2 (*)

Income on other investment breakdown

Quarterly b.o.p.

Items I. C.2.3.1 to C.2.3.3 (*)

Memorandum items 1 to 4 (*)

Current transfer breakdown

Quarterly b.o.p.

Items I. D.1, D.2, D.2.1 and D.2.2 (*)

Q4 2007

March 2008

Annex II, Table 2

Q4 2008

March 2009

Annex II, Table 2

Q4 2008

March 2009

Annex II, Table 2

Q4 2007

March 2008

Annex II, Table 2

Items I. D.1.1 to D.1.8 and D.2.2.1 to D.2.2.11 (*)

Q4 2008

March 2009

Annex II, Table 2

Capital account breakdown

Quarterly b.o.p.

Items II.A and II.B (*)

Items II.A.1 and II.A.2 (*)

Q4 2007

March 2008

Annex II, Table 2

Q4 2008

March 2009

Annex II, Table 2

L 159/60

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Official Journal of the European Union

20.6.2007

Portfolio investment — equity securities — investment funds and
money market funds shares

Quarterly b.o.p.

Quarterly i.i.p.

Annual i.i.p.

(*) See Table 2 of Annex II.’

Q1 2010

Q1 2010

June 2010

Annex II, Table 2

June 2010

Annex II, Table 4

End December 2009

June 2010

Annex II, Table 5

20.6.2007

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Official Journal of the European Union

L 159/61

ANNEX II

Annex III to Guideline ECB/2004/15 is amended as follows:

1. The following text is inserted immediately before Section 1:

‘The terms “resident” and “residing” fall within the definitions laid down in Article 1(4) of Council Regulation (EC)
No 2533/98. In the case of the euro area, the economic territory comprises:
(i) the economic territory of the
participating Member States; and (ii) the ECB, which is regarded as a resident unit of the euro area.

The rest of the world (RoW) comprises the economic territories outside the euro area, i.e. Member States that have not
adopted the euro, all third countries and international organisations, including those physically located within the euro
area. All EU institutions (*) are considered to be resident outside the euro area. Consequently, all transactions of
participating Member States vis-à-vis EU institutions are recorded and classified as non-euro area transactions in the
euro area balance of payments and international investment position statistics.

In the cases set out below, residence is determined as follows:

(a) staff

from embassies and military bases are to be classified as residents of

the country of the employing
government, except if they have been recruited locally in the host country where the embassy or military base
is located;

(b) when undertaking cross-border transactions in land and/or buildings (e.g. holiday homes), property owners are
treated as if they have transferred their ownership to a notional institutional unit that is actually resident in the
country where the property is located. The notional unit is treated as being owned and controlled by the non-
resident owner;

(c)

in the absence of any significant physical dimension to a legal entity, e.g. investment funds (as distinct from their
managers), securitisation vehicles, and some special purpose entities, its residence is determined by the economic
territory under whose laws the entity is incorporated. If the entity is not incorporated, legal domicile is used as a
criterion, namely the country whose legal system governs the creation and continued existence of the entity.

___________
(*) The ECB is not included.’

2. In the third paragraph of subsection 1.1, the second sentence (‘The main difference is that the ECB does not require a

breakdown of direct investment income on equity into distributed and undistributed profits.’) is deleted.

3. The second paragraph of subsection 1.2 (‘While the IMF’s standard components of the capital account consist of a
sectoral breakdown into the items “general government” and “other sectors” (with a further breakdown thereafter), the
ECB compiles only a lump-sum capital account, without any breakdown.’) is deleted.

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20.6.2007

Annex VI to Guideline ECB/2004/15 is amended as follows:

ANNEX III

1. In the third paragraph, the second sentence (‘Therefore, if the “project closure document” for Phase 1 of the CSDB
project is not submitted to the Governing Council via the Statistics Committee of the European System of Central
Banks by the end of March 2005, this deadline will be postponed by the same amount of time as that by which the
submission is late.’) is deleted.

2. The sentence starting ‘From March 2008’ and ending ‘in the following table’ is replaced by the following sentence:

‘From the date specified in Article 2(6) and taking into account the phasing-in option referred to in that paragraph,
euro area portfolio investment collection systems conform to one of the models in the following table:’