Guideline of the European Central Bank of 19 December 2008 amending Guideline ECB/2007/9 on monetary, financial institutions and markets statistics (recast) (ECB/2008/31)
Date: 2008-12-19
Institutions: European Central Bank
Subjects: European Central Bank, capital market, central bank, disclosure of information, financial institution, financial statistics, statistical method

L 53/76

EN

Official Journal of the European Union

26.2.2009

GUIDELINES

EUROPEAN CENTRAL BANK

GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 19 December 2008

amending Guideline ECB/2007/9 on monetary, financial institutions and markets statistics (recast)

(ECB/2008/31)

(2009/160/EC)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to Regulation (EC) No 24/2009 of the European
Central Bank of 19 December 2008 concerning statistics on the
assets and liabilities of financial vehicle corporations engaged in
securitisation transactions (ECB/2008/30) (6),

Having regard to the Statute of the European System of Central
Banks and of the European Central Bank, and in particular
Articles 5.1, 12.1 and 14.3 thereof,

Whereas:

Having regard to Regulation (EC) No 25/2009 of the European
Central Bank of 19 December 2008 concerning the balance
sheet
sector
(recast) (ECB/2008/32) (1),

the monetary

institutions

financial

of

Having regard to Council Regulation (EC) No 2533/98 of
23 November 1998 concerning the collection of statistical
information by the European Central Bank (2),

Having regard to Council Directive 86/635/EEC of 8 December
1986 on the annual accounts and consolidated accounts of
banks and other financial institutions (3),

(1)

(2)

the

Regulation (EC) No 24/2009 (ECB/2008/30) concerning
statistics on the assets and liabilities of financial vehicle
corporations engaged in securitisation transactions (here­
‘FVCs’)
inafter
certain
establishes
conditions FVCs may be exempt
from some or all
reporting requirements set out in Regulation (EC) No
24/2009 (ECB/2008/30) and national central banks
(NCBs) may instead derive the required data from other
statistical, public or supervisory data sources.

that under

Data on FVC issued securities and/or FVCs’ holdings of
securities may be derived from a centralised securities
database
therefore, a functioning CSDB is
considered essential to enable the derivation of data on
FVC issued securities and/or FVCs’ holdings of securities,

(CSDB);

Having regard to Guideline ECB/2006/16 of 10 November
2006 on the legal
framework for accounting and financial
reporting in the European System of Central Banks (4),

Guideline ECB/2007/9 (7) is amended as follows:

Article 1

HAS ADOPTED THIS GUIDELINE:

Having regard to 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 (5),

(1) OJ L 15, 20.1.2009, p. 14.
(2) OJ L 318, 27.11.1998, p. 8.
(3) OJ L 372, 31.12.1986, p. 1.
(4) OJ L 348, 11.12.2006, p. 1.
(5) OJ L 310, 30.11.1996, p. 1.

1. the following Article 18a is inserted:

‘Article 18a

Statistics on the assets and liabilities of FVCs

(6) OJ L 15, 20.1.2009, p. 1.
(7) OJ L 341, 27.12.2007, p. 1.

26.2.2009

EN

Official Journal of the European Union

L 53/77

1. Scope of reporting

NCBs shall compile and report separate aggregated statistical
information on assets and liabilities of FVCs in accordance
with Part 15 of Annex III to this Guideline. Data shall be
(i) FVCs
submitted for the following three sub-categories:
engaged in traditional securitisation;
(ii) FVCs engaged in
synthetic securitisation; and (iii) other FVCs.

For the purpose of FVC statistics traditional securitisation
refers
risk is
to securitisations where the transfer of
achieved by the economic transfer of
the assets being
securitised to the FVC. This shall be accomplished by the
transfer of ownership of
the securitised assets from the
originator or through sub-participation.

Synthetic securitisation refers to securitisations where the
transfer of risk is achieved by the use of credit derivatives,
guarantees or any similar mechanism.

shall cover data on end-of-quarter
These requirements
outstanding amounts,
and write-
transactions
offs/write-downs provided on a quarterly basis.

financial

NCBs may submit to the ECB the required data on write-
offs/write-downs on a best effort basis.

2. Reporting frequency and deadline
NCBs shall report to the ECB the data on FVCs’ outstanding
amounts,
transactions and write-offs/write-downs
on a quarterly basis by close of business on the 28th
working day following the end of the quarter to which the
data relate.

financial

3. Revision policy

The following general rules shall apply to the revision of
quarterly data:

(a) during the regular production periods, i.e. from the 28th
working day following the end of the reference quarter
to the day preceding the day the data are disseminated
back to the NCBs, NCBs may revise the data referring to
the previous reference quarter;

(b) outside the regular production periods, NCBs may also
revise data referring to reference periods prior to the
in case of
previous
mistakes,
reporting
procedures;

reference quarter,
reclassifications

alia,
improved

inter

or

(c) revisions to data reported under Regulation (EC) No
25/2009
Bank
(ECB/2008/32) (*) on loans originated and serviced by
euro area MFIs shall be included, where relevant, in the
FVC statistics according to paragraphs (a) and (b).

European

Central

the

of

4. Reporting approaches

In order to meet the statistical reporting requirements from
which FVCs are exempt under Article 5(1)(c) of Regulation
(EC) No 24/2009 or
European Central Bank
the
(ECB/2008/30) (**),
the NCBs after consulting the ECB,
approach to
shall decide on the most
compiling data on assets and liabilities of FVCs, depending
on the organisation of the relevant markets and the avail­
ability of other relevant statistical, public or supervisory
information in the Member State.

appropriate

5. Data sources and data quality standards
If NCBs derive data on FVC issued securities and/or FVCs’
holdings of securities from the CSDB or another securities
database and/or data on assets and liabilities of FVCs from
other statistical data sources, from public sources such as
pre-sale reports or investor reports, or from supervisory
data sources,
the data quality standards described below
shall apply.

As identified in Part 15 of Annex III to this Guideline, a
distinction is made between anchor series, which are subject
to high quality standards, comparable to data directly
reported by FVCs in accordance with Annex III to Regulation
(EC) No 24/2009 (ECB/2008/30) and which are verifiable
ex-post as outlined in paragraph 9 and non-anchor series
which may be estimated according to less stringent quality
standards (***).

If NCBs derive data on assets and liabilities of FVCs from
supervisory data sources, the NCBs shall ensure that these
sources are sufficiently aligned with the statistical concepts
and definitions under the FVC reporting requirements. The
same shall apply to data which are derived from other
statistical data sources.

of

5(1)(c)

annual

financial

(EC) No

If data are not directly reported by FVCs in accordance with
Article
24/2009
Regulation
(ECB/2008/30), the quality of the data shall be monitored
by the NCBs on the basis of the information that is available
from the
as outlined in
paragraph 9. If the cross-checks between the data derived
financial statements
on a quarterly basis and the annual
show that high quality standards are not met, NCBs shall
take the necessary measures to ensure that the data meet the
required quality standards,
including the possible direct
collection of data under Regulation (EC) No 24/2009
(ECB/2008/30).

statements,

L 53/78

EN

Official Journal of the European Union

26.2.2009

If data on outstanding amounts and new issues of FVC debt
securities and/or FVCs’ holdings of securities are compiled
from the CSDB or another securities database, the NCBs shall
ensure extensive coverage of FVC issued debt securities
and/or FVC’s holdings of securities and shall monitor such
data on a regular basis as outlined in paragraph 10. If the
coverage and quality indicators for the relevant set of secu­
rities in the CSDB or other securities database show that
high quality standards are not met, NCBs shall take the
necessary measures to meet the required quality standards,
including the possible direct collection of data under Regu­
lation (EC) No 24/2009 (ECB/2008/30).

6. Loans originated and serviced by euro area MFIs and

exchange of cross-border information

In accordance with Article 5 of Regulation (EC) No 25/2009
(ECB/2008/32), NCBs collect data on loans purchased by
FVCs that originated from and are serviced by euro area
MFIs and broken down by maturity, sector and residency
of debtors, as identified in Part 15 of Annex III to this
Guideline.

If the originators of the securitised loans are MFIs resident in
the same country as the FVC, and these domestic MFIs
continue to service the securitised assets,
the NCB may
compile this part of the data on the FVCs’ loan portfolio,
relating to outstanding amounts and financial transactions,
from data collected from domestic MFIs as specified in
Article 5 of Regulation (EC) No 25/2009 (ECB/2008/32),
instead of directly collecting these data from FVCs.

If the originators of the securitised loans are MFIs resident in
another euro area Member State, and these MFIs continue to
service the securitised assets, NCBs shall exchange the infor­
mation collected from these MFIs
in accordance with
Article 5 of Regulation (EC) No 25/2009 (ECB/2008/32).
information in accordance with
Each NCB shall collect
Article 5 of Regulation (EC) No 25/2009 (ECB/2008/32)
on loans that originate from and are serviced by domestic
MFIs and have been securitised with an FVC resident in
another euro area Member State.

For the purpose of exchanging cross-border information,
each NCB shall transmit information on loans originated
and serviced by domestic MFIs under Article 5 of Regulation
(EC) No 25/2009 (ECB/2008/32) to the ECB in accordance
with Part 15 of Annex III to this Guideline.

NCBs shall report these data to the ECB by the 23rd working
day following the end of the quarter to which the data relate.

The ECB shall provide, in line with the applicable legal acts
protecting confidential data, the technical gateway for this
exchange of cross-border information. The ECB shall redis­
tribute the data to the NCBs concerned on the 24th working
day following the end of the quarter to which the data relate.

NCBs that are involved in the exchange of data for existing
securitisations shall clarify any outstanding queries and coor­
dination issues on a bilateral basis and, if required, exchange
relevant information.
If there are new securitisations, the
relevant NCBs may request the ECB to act as coordinator.

7. Derogations and grossing-up

If NCBs compile data on assets and liabilities of FVCs directly
from FVCs, and where relevant, based on data reported by
MFIs under Regulation (EC) No 25/2009 (ECB/2008/32), and
where NCBs grant derogations to FVCs in accordance with
Article
24/2009
Regulation
(ECB/2008/30), NCBs shall gross up to 100 % coverage for
all FVCs when compiling the quarterly assets and liabilities of
FVCs data reported to the ECB for outstanding amounts,
financial transactions and write-offs/write-downs.

(EC) No

5(1)(b)

of

If NCBs compile data on assets and liabilities of FVCs from
other statistical, public and/or supervisory sources they may
base their compilation on a sample of FVCs as long as these
FVCs account for at least 95 % of the total outstanding
amount of assets of the FVC reference reporting population
in a relevant Member State as represented in the list of FVCs.
NCBs shall gross up to 100 % coverage when compiling the
quarterly data on assets and liabilities of FVCs reported to
the ECB for outstanding amounts, financial transactions and
write-offs/write-downs.

8. Explanatory notes

NCBs shall submit explanatory notes to the ECB setting out
the reasons for significant revisions as well as for any
revisions made pursuant
this
Guideline.

to Article 18a(3)(b) of

9. Monitoring the quality of data not directly reported by

FVCs or MFIs

NCBs shall check the quality of the quarterly data which are
not directly reported by FVCs or MFIs in accordance with
Article 5(3) of Regulation (EC) No 24/2009 (ECB/2008/30),
on the basis of information available from annual financial
statements.

26.2.2009

EN

Official Journal of the European Union

L 53/79

The outcome of the quality checks shall be transmitted to
the ECB by the end of September each year or at the earliest
point in time thereafter, in accordance with the applicable
in the FVC’s Member State of
national
residence.

legal practices

10. Monitoring the quality of the CSDB or other securities
database in the context of FVC issued securities

If the CSDB or another securities database is used as a data
source for FVC statistics in accordance with paragraph 5,
NCBs shall provide the ECB, on an annual basis, with indi­
cators on the coverage and quality of the relevant set of
securities in the CSDB or the other securities database,
in
accordance with the methodology to be separately commu­
nicated to the NCBs.

The above information shall be transmitted to the ECB by
the end of February each year by taking as a reference the
end-December data of the preceding year.

___________

(*) OJ L 15, 20.1.2009, p. 14.
(**) OJ L 15, 20.1.2009, p. 1.
(***) For example, estimations, e.g. interpolations and extra­
polations, may be necessary when data are collected
from public or supervisory sources at a frequency
lower than quarterly and with a timeliness longer
than the 28th working day following the reference
period.’;

2. the following Article 20a is inserted:

‘Article 20a

List of FVCs for statistical purposes

1. Scope of reporting

The variables collected to establish and maintain the list of
FVCs for statistical purposes provided for in Article 3 of
Regulation (EC) No 24/2009 (ECB/2008/30) are specified
in Annex VIII to this Guideline.

NCBs shall report updates of the variables specified in Part 1
to this Guideline either when there are
of Annex VIII
changes in the FVC sector, i.e. an institution joins the FVC
sector or an FVC leaves the FVC sector, or when there is a
change in an FVC’s attributes.

When reporting a new institution or an institution to be
modified, NCBs shall complete all mandatory variables.

When reporting an institution leaving the FVC sector, NCBs
shall report the following information as a minimum: the
type of request, i.e. deletion, and the identification code of
the FVC, i.e. the “fvc_id” variable.

Where possible, NCBs shall not reallocate FVC identification
codes of deleted FVCs to new or modified FVCs.

When reporting updates, NCBs may use their national
character set, provided they use the Roman alphabet. NCBs
shall use Unicode to correctly display all special character
sets when receiving information from the ECB via the RIAD
Data Exchange System.

Prior to transmitting updates to the ECB, NCBs shall carry
out the validation checks set out in Part 2 of Annex VIII to
this Guideline.

2. Reporting frequency and deadline

NCBs shall transmit to the ECB updates of the variables
specified in Part 1 of Annex VIII to this Guideline, at least
on a quarterly basis, within 14 working days following the
reference date.

3. Transmission standards

failure of

In the event of

NCBs shall transmit updates in XML file format. The ECB
shall then process the data via the RIAD Data Exchange
System.
the EXDI and/or the
RIAD Data Exchange System, updates shall be transmitted
the
in XML format via the N13 Cebamail account.
Cebamail system is not operational for the file transfer of
FVC updates or corrections, NCBs shall transfer these files by
e-mail using the XML format to the following e-mail address:
birs@ecb.europa.eu

If

NCBs that use manual input procedures shall have in place
an adequate set of controls to minimise operational errors
and ensure the accuracy and consistency of the FVC updates
reported via the RIAD Data Exchange System.

NCBs shall derive updates by comparing their national list of
FVCs at the end of two successive end-of-quarters, i.e. they
shall not take into account intra-quarter movements.

the updates,

On receipt of
the latest available infor­
i.e.
mation, the ECB shall immediately carry out the validation
checks as set out in Part 2 of Annex VIII to this Guideline.

4. Acquisition and error acknowledgements

L 53/80

EN

Official Journal of the European Union

26.2.2009

The ECB shall immediately return to the NCBs: (i) an acqui­
sition acknowledgement containing summary information of
the FVC updates that have been processed and successfully
implemented in the ECB’s FVC dataset; and/or (ii) an error
acknowledgement containing detailed information on the
FVC updates and the validation checks which have failed.
In accordance with Part 1 of Annex VIII to this Guideline,
the ECB shall implement, in whole or in part, an incomplete,
incorrect or missing “object_request” variable or shall reject
it.

action is not

On receipt of an error acknowledgement, NCBs shall take
If
immediate action to transmit corrected information.
immediate
a
they shall have
i.e. until 17.59 Central
maximum of
European Time (CET) on the second working day,
to
report corrected information,
following the deadline for
reporting set out in paragraph 2.

two working days,

feasible,

5. Dissemination of the list of FVCs

The ECB shall take a copy of the FVC dataset, excluding
values marked as confidential, at 18.00 CET on the second
working day following the deadline for reporting referred to
in paragraph 2. The updated information shall become
available by 12.00 CET the next day.

The ECB shall not publish values which have been marked as
confidential.

At the same time as releasing the list of FVCs on its website,
the ECB shall send it
to the NCBs via the RIAD Data
Exchange System.’;

3. Annex III is amended and Annex VIII is added in accordance

with the Annex to this Guideline;

4.

in the Glossary,
the
corporations is replaced with the following:

definition of

financial

vehicle

‘Financial vehicle corporations engaged in securitisation
transactions are defined in Article 1(1) of Regulation (EC)
No 24/2009 (ECB/2008/30).’

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 all Eurosystem central banks.

Done at Frankfurt am Main, 19 December 2008.

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

Jean-Claude TRICHET

26.2.2009

EN

Official Journal of the European Union

L 53/81

1. The following Part 15 is added to Annex III:

ANNEX

‘PART 15

FVC Reporting table

Table 1

Outstanding amounts and financial transactions

Data required to be provided on a quarterly basis

L 53/82

EN

Official Journal of the European Union

26.2.2009

C
N
A

C
N
A

/

C
N
A

I
F
M

C
N
A

C
N
A

C
N
A

C
N
A

l
a
t
o
T

.

D

W
o
R

.

C

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

C
N
A

s
I
F
M

l
a
t
o
T

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

s
e
t
a
t
S

r
e
b
m
e
M

g
n
i
t
a
p
i
c
i
t
r
a
p

r
e
h
t
O

.

B

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

c
i
t
s
e
m
o
D

.

A

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

/

C
N
A

I
F
M

s
I
F
M

l
a
t
o
T

C
N
A

s

m
i
a
l
c

n
a
o

l

d
n
a

t
i
s
o
p
e
D

.

1

d
e
s
i
t
i
r
u
c
e
S

.

2

s
n
a
o

l

S
T
E
S
S
A

r
o
t
a
n
i
g
i
r
o

s
a

I
F
M

)
y
t
i
r
u
t
a
m

l
a
t
o
t
(

a
e
r
a

o
r
u
e

a
2

r
a
e
y

1

o
t

p
u

r
a
e
y

1

r
e
v
o

5

o
t

p
u

d
n
a

s
r
a
e
y

s
r
a
e
y

5

r
e
v
o

t
n
e
m
n
r
e
v
o
G

r
o
t
a
n
i
g
i
r
o

s
a

l
a
r
e
n
e
G

a
e
r
a

o
r
u
e

b
2

F
P
C

I

d
n
a

I
F
O

r
o
t
a
n
i
g
i
r
o

s
a

a
e
r
a

o
r
u
e

c
2

a
e
r
a

s
a

o
r
u
e

C
F
N

r
o
t
a
n
i
g
i
r
o

d
2

r
o
t
a
n
i
g
i
r
o

a
e
r
a

o
r
u
e
-
n
o
n

e
2

26.2.2009

EN

Official Journal of the European Union

L 53/83

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

s
e
t
a
t
S

r
e
b
m
e
M

g
n
i
t
a
p
i
c
i
t
r
a
p

r
e
h
t
O

.

B

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

c
i
t
s
e
m
o
D

.

A

C
N
A

C
N
A

C
N
A

C
N
A

-

N
O
N

C
N
A

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

l
a
t
o
T

.

D

W
o
R

.

C

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

-

N
O
N

-

N
O
N

C
N
A

C
N
A

-

N
O
N

-

N
O
N

C
N
A

C
N
A

-

N
O
N

-

N
O
N

C
N
A

C
N
A

s
I
F
M

l
a
t
o
T

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

-

N
O
N

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

-

N
O
N

-

N
O
N

C
N
A

C
N
A

-

N
O
N

-

N
O
N

C
N
A

C
N
A

-

N
O
N

-

N
O
N

C
N
A

C
N
A

s
I
F
M

l
a
t
o
T

r
e
h
t
o

s
e
i
t
i
r
u
c
e
S

.

3

s
e
r
a
h
s

n
a
h
t

r
a
e
y

1

o
t

p
u

d
n
a

r
a
e
y

1

r
e
v
o

s
r
a
e
y

2

o
t

p
u

s
r
a
e
y

2

r
e
v
o

d
e
s
i
t
i
r
u
c
e
s

s
t
e
s
s
a

r
e
h
t
O

.

4

t
n
e
m
n
r
e
v
o
G

r
o
t
a
n
i
g
i
r
o

s
a

a
e
r
a

o
r
u
e

l
a
r
e
n
e
G

h
c
i
h
w

f
o

a
4

a
e
r
a

s
a

o
r
u
e

C
F
N

r
o
t
a
n
i
g
i
r
o

h
c
i
h
w

f
o

b
4

y
t
i
u
q
e

r
e
h
t
o

d
n
a

s
e
r
a
h
S

.

5

s
e
v
i
t
a
v
i
r
e
d

l
a
i
c
n
a
n
i
F

.

6

s
t
e
s
s
a

d
e
x
i
F

.

7

i

g
n
n
i
a
m
e
R

.

8

s
t
e
s
s
a

L 53/84

EN

Official Journal of the European Union

26.2.2009

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

s
e
t
a
t
S

r
e
b
m
e
M

g
n
i
t
a
p
i
c
i
t
r
a
p

r
e
h
t
O

.

B

s
t
n
e
d
i
s
e
r

r
e
h
t
O

l
a
t
o
T
—

s
I
F
M
-
n
o
N

c
i
t
s
e
m
o
D

.

A

C
N
A

C
N
A

C
N
A

C
N
A

C
N
A

C
N
A

-

N
O
N

C
N
A

l
a
t
o
T

.

D

W
o
R

.

C

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

s
I
F
M

l
a
t
o
T

-
e
s
u
o
H

+

l

s
d
o
h

t
i
f
o
r
p
-
n
o
n

s
n
o
i
t
u
t
i
t
s
n

i

g
n
i
v
r
e
s

l

s
d
o
h
e
s
u
o
h

+

4
1
S
(

.

)

5
1
S

.

-
n
o
N

l
a
i
c
n
a
n
i
f

­
i
t
a
r
o
p
r
o
c

s
n
o

)

1
1
S
(

.

e
c
n
a
r
u
s
n
I

­
i
t
a
r
o
p
r
o
c

d
n
a

s
n
o

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

w
/
o

s
C
V
F

C
N
A

­
r
e
t
n

i

l
a
i
c
n
a
n
i
f

r
e
h
t
O

l
a
i
c
n
a
n
i
f

+

s
e
i
r
a
i
d
e
m

+

3
2
1
S
(

.

s
e
i
r
a
i
l
i
x
u
a

)

4
2
1
S

.

l
a
t
o
T

l
a
r
e
n
e
G

’

t
v
o
G

s
I
F
M

l
a
t
o
T

s
e
i
t
i
r
u
c
e
s

t
b
e
D

.

0
1

d
e
u
s
s
i

s
t
i
s
o
p
e
d

d
e
v
i
e
c
e
r

d
n
a

s
n
a
o
L

.

9

S
E
I
T
I
L
I
B
A
I
L

d
n
a

r
a
e
y

1

r
e
v
o

s
r
a
e
y

2

o
t

p
u

r
a
e
y

1

o
t

p
u

s
r
a
e
y

2

r
e
v
o

s
e
v
r
e
s
e
R

d
n
a

l
a
t
i
p
a
C

.

1
1

s
e
v
i
t
a
v
i
r
e
d

l
a
i
c
n
a
n
i
F

.

2
1

s
e
i
t
i
l
i
b
a
i
l

i

g
n
n
i
a
m
e
R

.

3
1

e
i
r
e
s

r
o
h
c
n
a
-
n
o
N

:

-

C
N
A
N
O
N

e
i
r
e
s

r
o
h
c
n
A

:

C
N
A

.
s
n
a
o

l

e
h
t

f
o

s
r
e
c
i
v
r
e
s

d
n
a

s
r
o
t
a
n
i
g
i
r
o

e
h
t

e
r
a

s
I
F
M

a
e
r
a

o
r
u
e

n
e
h
w

)

0
3
/
8
0
0
2
/
B
C
E
(

9
0
0
2
/
4
2

o
N

)

C
E
(

n
o
i
t
a
l
u
g
e
R

a
i
v

s
I
F
M

m
o
r
f

d
e
t
c
e
l
l

o
c

y
l
t
c
e
r
i
d

a
t
a
d

m
o
r
f

d
e
v
i
r
e
d

y
l
t
r
a
p

e
r
a

h
c
i
h
w

,
s
e
i
r
e
s

r
o
h
c
n
A

/

:
I
F
M
C
N
A

26.2.2009

EN

Official Journal of the European Union

L 53/85

Table 2

Write-offs/write-downs

Data required to be provided on a quarterly basis

D. Total

ASSETS

2 Securitised loans

L 53/86

EN

Official Journal of the European Union

26.2.2009

l

s
d
o
h
e
s
u
o
H

+

4
1
S
(

.

)

5
1
S

.

)

1
1
S
(

.

C
F
N

&

.

p
r
o
c

.
s
n
I

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

&

s
I
F
O

l
a
i
c
n
a
n
i
f

3
2
1
S
(

.

.
l
i
x
u
a

)

4
2
1
S

.

+

l
a
t
o
T

l
a
t
o
T

l

s
d
o
h
e
s
u
o
H

+

4
1
S
(

.

)

5
1
S

.

)

1
1
S
(

.

C
F
N

&

.

p
r
o
c

.
s
n
I

n
o
i
s
n
e
p

s
d
n
u
f

)

5
2
1
S
(

.

&

s
I
F
O

l
a
i
c
n
a
n
i
f

3
2
1
S
(

.

.
l
i
x
u
a

)

4
2
1
S

.

+

l
a
t
o
T

l
a
t
o
T

s
r
o
t
c
e
s

t
n
e
d
i
s
e
r

r
e
h
t
O

s
e
t
a
t
S

r
e
b
m
e
M

g
n
i
t
a
p
i
c
i
t
r
a
p

r
e
h
t
O

.

B

’

t
v
o
G

.

n
e
G

)

3
1

.

S
(

s
r
o
t
c
e
s

t
n
e
d
i
s
e
r

r
e
h
t
O

c
i
t
s
e
m
o
D

.

A

’

t
v
o
G

.

n
e
G

)

3
1

.

S
(

)
1
(

l
a
t
o
T

s

m
e
t
i

t
e
e
h
s

e
c
n
a
l
a
B

3

e
l
b
a
T

s
B
C
N

n
e
e
w
t
e
b

d
e
g
n
a
h
c
x
e

e
b

o
t

s
t
n
u
o
m
a

g
n
i
d
n
a
t
s
t
u
O

’

.

d
l
r
o
w

e
h
t

f
o

t
s
e
r

d
n
a

s
e
t
a
t
S

r
e
b
m
e
M

g
n
i
t
a
p
i
c
i
t
r
a
p

a
e
r
a

o
r
u
e

r
e
h
t
o

,
a
e
r
a

c
i
t
s
e
m
o
d

s
e
d
u
l
c
n
I

)
1
(

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

B

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
C
V
A F

C

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
n
a
o

l

d
e
s
i
t
i
r
u
c
e
S

S
T
E
S
S
A

r
a
e
y

1

o
t

p
u

.
c
t
e

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

B

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
C
V
A F

C

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

.
c
t
e

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

B

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
C
V
A F

C

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
r
y

5

o
t

p
u

d
n
a

r
a
e
y

1

r
e
v
o

s
r
a
e
y

5

r
e
v
o

.
c
t
e

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

B

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

s
C
V
A F

C

y
r
t
n
u
o
c

a
e
r
a

o
r
u
e

n

i

d
e
t
a
c
o

l

s
C
V
F

.
c
t
e

26.2.2009

EN

Official Journal of the European Union

L 53/87

2. The following Annex VIII is added:

‘ANNEX VIII

LIST OF FVCs FOR STATISTICAL PURPOSES

PART 1

Variables for reporting the list of financial vehicle corporations (FVCs) for statistical purposes

Variable name

Variable description

Status

object_request

This variable specifies the type of FVC update sent and may have one of
six predefined values:

Mandatory

“fvc_req_new”: request for addition of a new FVC

“fvc_req_mod”: request for modifications to an FVC

“fvc_req_del”: request for an FVC to be deleted

“fvc_req_realloc”: request for reallocation of the identification code of a
deleted FVC to a new FVC

“fvc_req_mod_id_realloc”: request for reallocation of the identification
code of a deleted FVC to another FVC

“fvc_req_mod_id”: request for a change of the identification code (fvc_id)
of an FVC to a different identification code

fvc_confidentiality
_flag

This variable indicates the confidentiality status of the entire record. One
of three predefined values should be selected: “F” (free, not confidential),
“N” (confidential; may be released for European System of Central Banks
(ESCB) use only; not for external release) or “C” (confidential; not for
release to the ESCB or the public)

Mandatory

If partial confidentiality of any one particular variable is required, the
value “F” must be used

fvc_id

The primary key for the FVC dataset is the unique identification code
(hereinafter the “id code”) for each FVC

Mandatory

It is comprised of two parts: “host” and “id”

The values for the two parts combined ensure that the “fvc_id” is unique
to that FVC

host

id

name

address

The two-character country ISO code for the FVC’s country of registration,
one of two parts of the “fvc_id” variable (see above)

Mandatory when
part of id code

The FVC’s id code, one of two parts of the “fvc_id” variable (see above) Mandatory when

part of id code

The FVC’s full registration name, including the company designation, e.g.
plc, Ltd, SpA, etc.

Mandatory

The FVC’s location details or its management company where applicable,
composed of four parts: “postal_address”, “postal_box”, “postal_code” and
“city”

Mandatory for
“new” and “mod”
requests

postal_address

The street name and the number of the building

Mandatory for
“new” and “mod”
requests

L 53/88

EN

Official Journal of the European Union

26.2.2009

Variable name

Variable description

Status

postal_box

The post office box number, using national box convention systems

postal_code

The postcode, using the national postal system conventions

city

The city of location

Mandatory for
“new” and “mod”
requests

Mandatory for
“new” and “mod”
requests

Mandatory for
“new” and “mod”
requests

management
company name

management
company
name_confiden­
tiality
_flag

nature of
securitisation

nature of
securitisation
_confidentiali­
ty_flag

The full, registered name of the FVC’s management company

Mandatory

If this information is missing, the value “not available” (where the FVC
has a management company) or “not applicable” (where the FVC does
not have a management company) must be reported

This variable indicates the confidentiality status of the information on the
management company name

Mandatory

One of three predefined values should be selected: “F” (free, not confi­
dential), “N” (confidential; may be released for ESCB use only; not for
external release) or “C” (confidential; not for release to the ESCB or to the
public)

This variable specifies the type of securitisation undertaken by the FVC

Mandatory

One out of
“synthetic”, “other” or “not available”

four predefined values should be selected: “traditional”,

This variable indicates the confidentiality status of the information on the
nature of securitisation

Mandatory

One of three predefined values should be selected: “F” (free, not confi­
dential), “N” (confidential; may be released for ESCB use only; not for
external release) or “C” (confidential; not for release to the ESCB or the
public)

ISIN codes

This variable specifies the ISIN (1) codes for each class of security per
single securitisation, issued by the FVC

Mandatory

The variable is composed of several parts including reference to: “ISIN_1”,
“ISIN_2”, “ISIN_3”, “ISIN_4” and “ISIN_n”

As a minimum requirement, at least one ISIN code (ISIN_1) must be
reported

If reporting an FVC for which ISIN codes are not applicable, or not
available, the 12 characters term “XXXXXXXXXXXX” must be reported
for “ISIN_1”

free_text

Explanatory information on the FVC

(1) International Securities Identification Number: a code uniquely identifying a securities issue, composed of 12 alphanumeric

characters.

26.2.2009

EN

Official Journal of the European Union

L 53/89

PART 2

Validation checks

1. General checks

It will be checked that:

— all mandatory variables are completed,

— the value for the variable “object_request” is one of the six predefined types as set out in Part 1 of this Annex
“fvc_req_mod_id”)

“fvc_req_mod_id_realloc”,

“fvc_req_realloc”,

(“fvc_req_new”,
depending on the kind of information transmitted, and

“fvc_req_mod”,

“fvc_req_del”,

— NCBs use the Roman alphabet when reporting updates to the European Central Bank (ECB).

2.

Id code checks

It will be checked that:

— the variable “fvc_id” is comprised of two separate parts, a “host” variable and an “id” variable, and the values for the

two parts combined ensure that the “fvc_id” is unique to an FVC,

— the value for the variable “host” for an FVC is a two-character country ISO code,

— a previously used id code is not allocated to a new FVC. If such an action is unavoidable, NCBs must send an

“fvc_req_realloc” request to the ECB,

— when reporting an id code change for an existing FVC, a specific “fvc_req_mod_id” request is used, and

— when reporting an id code change to a previously deleted id code, a specific “fvc_req_mod_id_realloc” request is

used.

If the identification code has already been used (either for an existing FVC or an FVC which has been previously
deleted) and the request is not an “fvc_req_mod_id_realloc”, or the new FVC identification code is in the current list,
the ECB rejects the request.

If the variable “fvc_id” is incomplete, incorrect or missing, the ECB rejects the entire request.

3. Name

It will be checked that:

— this variable specifies the FVC’s name,

— the FVC’s name, including its designation is consistently reported for all names where this is applicable,

— the lower case convention is followed to allow for accents, and

— lower case is used where applicable.

If the variable “name” is missing, the ECB rejects the entire request.

4. Address

It will be checked that:

— at least one of the address variables “postal_address”, “postal_box” or “postal_code” is completed,

L 53/90

EN

Official Journal of the European Union

26.2.2009

— the “postal_address” variable indicates the street name and street number of the FVC (or its management company,

as applicable),

— the “postal_box” variable uses national box convention systems, and that no post office box text references are

placed in front of “postal_box” numbers, and

— the “postal_code” variable uses national postal system conventions and specifies the relevant postcode.

If at least one of the “address” variables is missing, the ECB rejects the entire request.

5. City
It will be checked that the variable “city” specifies the city where the FVC is located.

If the variable “city” is missing, the ECB rejects the entire request.

6. Management company name and associated confidentiality flag

A management company is an institution which provides management or administration services to the FVC.

It will be checked that:

— the variable “management company name” is completed either with a company name or as “not available” or “not

applicable”,

— if the variable “management company name” is given as “not available”, an accompanying reason has also been

provided in the “free_text” field; otherwise, the ECB will send a warning,

— the variable “management company name_confidentiality_flag” is completed either with an “F”, “N” or “C”.

If the variable “management company name” is missing, the ECB rejects the entire request.

7. Nature of securitisation and associated confidentiality flag

It will be checked that:

— the variable “nature of securitisation” is completed with one of the four predefined values: “traditional”, “synthetic”,

“other” or “not available”,

— if the variable “nature of securitisation” is given as “not available”, an accompanying reason has also been provided

in the “free_text” field; otherwise, the ECB will send a warning,

— the variable “nature of securitisation_confidentiality_flag” is completed either with an “F”, “N” or “C”.

If the variable “nature of securitisation” is missing, the ECB rejects the entire request.

8.

ISIN codes

It will be checked that:

— under the variable “ISIN codes”, at least the variable “ISIN_1” is completed for each FVC, and that the value for

“ISIN_1” is either the actual code or the 12 characters term “XXXXXXXXXXXX”,

— ISIN codes per FVC are not duplicated,

— ISIN codes across FVCs are not duplicated.

If the variables “ISIN codes” and “ISIN_1” are missing, i.e. neither the actual code, nor the term “XXXXXXXXXXXX” is
provided, the ECB rejects the entire request.

9. Confidentiality checks

NCBs may mark certain values or the entire record as confidential with the specified confidentiality flag variables,
when reporting an update to an FVC to the ECB.

26.2.2009

EN

Official Journal of the European Union

L 53/91

In such cases, accompanying information on the reason for confidentiality should be provided in the “free_text” field.

The ECB does not publish such values on its website or disseminate them back to NCBs. The confidentiality flags are
described in detail below:

“F”

“N”

“C”

Free: this value is non-confidential and may be published

Confidential statistical information: this value may be disseminated within the ESCB, but not published

Confidential statistical information: this value may not be disseminated within the ESCB nor published;
it remains within the ECB’s statistical production environment

It will be checked that:
— the “fvc_confidentiality_flag”, “management company name_confidentiality_flag” and “nature of securitisation_con­

fidentiality_flag”, are completed with one of the following predefined values: “F”, “N” or “C”,

— if “management company name_confidentiality_flag” and/or “nature of securitisation_confidentiality_flag” are “N”

or “C”, then “fvc_confidentiality_flag” should be “F”.’