Recommendation of the European Central Bank of 31 January 2025 addressed to the Central Statistics Office in Ireland on statistical reporting requirements of the European Central Bank in the field of household wealth, income and consumption statistics (ECB/2025/4)
Date: 2025-01-31
Institutions: European Central Bank
Subjects: Ireland, data collection, disclosure of information, exchange of information, household, household consumption, household income, social statistics, statistics, wealth








C_202501163EN.000101.fmx.xml












Official Journal of the European Union


EN
C series













C/2025/1163


27.2.2025







            RECOMMENDATION OF THE EUROPEAN CENTRAL BANK
         
of 31 January 2025
         
addressed to the Central Statistics Office in Ireland on statistical reporting requirements of the European Central Bank in the field of household wealth, income and consumption statistics
(ECB/2025/4)
(C/2025/1163)


THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

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

Whereas:







(1)


To undertake certain tasks prescribed to it under the Treaty on the Functioning of the European Union (TFEU), the European System of Central Banks (ESCB) requires comprehensive and reliable statistical information on household wealth, income and consumption. The statistical requirements of the European Central Bank (ECB) in this area are laid down in Guideline ECB/2025/3 on the statistical reporting requirements of the ECB in the field of household wealth, income and consumption (1). The Guideline requires national central banks (NCBs) of euro-area Member States to report to the ECB statistical information on wealth, income and consumption in accordance with its requirements for the purposes explained in its recitals. In accordance with Article 34.1, third indent, of the Statute of the ESCB and of the ECB, the ECB may also make recommendations concerning the collection of the statistical information necessary to undertake the tasks of the ESCB.












(2)


Household-level information on wealth, income and consumption that is necessary to meet the ECB’s requirements under the Guideline is currently only available through the Household Finance and Consumption Survey (HFCS), which may be conducted in some Member States by competent authorities other than NCBs. Therefore, some of the tasks to be undertaken to meet those requirements require cooperation between the ECB or the NCBs and such competent authorities, in accordance with Article 5.1 of the Statute of the ESCB and of the ECB. Articles 2a and 4 of Council Regulation (EC) No 2533/98 (2) requires Member States to organise themselves in the field of statistics and to cooperate fully with the ESCB and with the European Statistical System in order to fulfill the obligations established in Article 5 of the Statute of the ESCB and of the ECB. Such cooperation is also necessary between NCBs and national competent authorities or other bodies with regard to the processing of personal data, including for the purpose of setting up arrangements among such authorities or bodies at national level for the controllership of personal data.












(3)


In cases where, in accordance with national rules and established practices, the HFCS is conducted by competent authorities or bodies other than NCBs, such authorities or bodies and their respective NCBs should establish the appropriate cooperation arrangements with each other to ensure that the statistical requirements of the ECB are met as required by Article 14 of Guideline ECB/2025/3. In Ireland the Central Statistics Office, collects and compiles necessary information in the field of household wealth, income and consumption. In order to meet the abovementioned statistical requirements, the Central Bank of Ireland and the Central Statistics Office, should cooperate with each other. Such cooperation should include the establishment of a permanent structure for transmission of the relevant statistical information which fulfils the ECB’s requirements in Guideline ECB/2025/3, unless the same result is already achieved by national legislation.












(4)


The NCBs, in cooperation with other competent authorities, where appropriate, should monitor and ensure the quality and reliability of the statistical information contributed by the competent authorities in accordance with Article 12 of Guideline ECB/2025/3.












(5)


In order to fulfill the reporting requirements as set out in Guideline ECB/2025/3 in a coordinated and effective manner and to ensure legal certainty, it is important for this Recommendation to take effect at the same time as that Guideline,





HAS ADOPTED THIS RECOMMENDATION:


I.   Definitions

For the purposes of this Recommendation:






(a)


‘statistical information on household wealth, income and consumption’ consists of the information required to be reported by the NCBs pursuant to Article 3(1) and 3(4) of Guideline ECB/2025/3.










(b)


‘non-core economic, financial and demographic output variables’ consists of the information which may be reported by the NCBs pursuant to Article 3(2) and 3(3) of Guideline ECB/2025/3.




II.   Provision of statistical information







(a)


The addressee is requested to ensure that statistical information on household wealth, income and consumption is reported to the ECB in accordance with the requirements of Guideline ECB/2025/3.










(b)


The addressee is requested to ensure that non-core economic, financial and demographic output variables are reported to the ECB in accordance with the requirements of Guideline ECB/2025/3, where applicable.










(c)


Without prejudice to the CBI’s and the ECB’s monitoring task as laid down in Article 12 of Guideline ECB/2025/3, the addressee of this Recommendation should monitor the quality and reliability of statistical information made available to the ECB.




III.   Permanent cooperation with the Central Bank of Ireland

The addressee of this Recommendation should establish with the Central Bank of Ireland, in writing, the appropriate modalities of cooperation to ensure a permanent structure for the transmission of data to the ECB that fulfils the statistical standards and requirements of the ECB, in accordance with Article 14 of Guideline ECB/2025/3 unless the same result is achieved by national legislation.
IV.   Final Provisions

The addressee is requested to give effect to this Recommendation from the date of notification of Guideline ECB/2025/3 to the national central banks of the Member States whose currency is the euro.
This Recommendation is addressed to the Central Statistics Office in Ireland.



Done at Frankfurt am Main, 31 January 2025.


The President of the ECB

Christine LAGARDE
            





(1)  Guideline (EU) 2025/333 of the European Central Bank of 31 January 2025 on statistical information to be reported on household wealth, income and consumption (ECB/2025/3) (OJ L, 2025/333, 27.2.2025, ELI: http://data.europa.eu/eli/guideline/2025/333/oj).

(2)  Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (OJ L 318, 27.11.1998, p. 8).


ELI: http://data.europa.eu/eli/C/2025/1163/oj
ISSN 1977-091X (electronic edition)