2014/477/EU: Decision of the European Central Bank of 2 July 2014 on the provision to the European Central Bank of supervisory data reported to the national competent authorities by the supervised entities pursuant to Commission Implementing Regulation (EU) No 680/2014 (ECB/2014/29)

19.7.2014 EN Official Journal of the European Union L 214/34
DECISION OF THE EUROPEAN CENTRAL BANK
of 2 July 2014
on the provision to the European Central Bank of supervisory data reported to the national competent authorities by the supervised entities pursuant to Commission Implementing Regulation (EU) No 680/2014
(ECB/2014/29)
(2014/477/EU)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK
,
Having regard to Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions (1), and in particular Article 6(2) thereof,
Having regard to Regulation (EU) No 468/2014 of the European Central Bank of 16 April 2014 establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation) (ECB/2014/17) (2), and in particular Article 21 and Article 140(4) thereof,
Having regard to the proposal of the Supervisory Board,
Whereas:
(1) Credit institutions are subject to regular reporting requirements in accordance with Regulation (EU) No 575/2013 of the European Parliament and of the Council (3) and Commission Implementing Regulation (EU) No 680/2014 (4).
(2) Within the framework of Article 6 of Regulation (EU) No 1024/2013, the European Central Bank (ECB) is exclusively competent to carry out, for prudential supervisory purposes, the tasks set out in Article 4 of that Regulation. The ECB will, in the exercise of those tasks, ensure compliance with the provisions of Union law that impose prudential requirements on credit institutions as regards reporting.
(3) In accordance with Article 6(2) of Regulation (EU) No 1024/2013, and Article 21 of the SSM Framework Regulation, both the ECB and national competent authorities are subject to an obligation to exchange information. Without prejudice to the ECB's power to directly receive reported information from credit institutions, or to have direct access to that information on an ongoing basis, the national competent authorities will specifically provide the ECB with all information necessary for the purposes of carrying out the tasks conferred on the ECB by Regulation (EU) No 1024/2013.
(4) In accordance with Article 140(3) of the SSM Framework Regulation, supervised entities are obliged to communicate to their relevant national competent authority any information to be reported on a regular basis, in accordance with relevant Union law. Unless specifically provided otherwise, all information reported by the supervised entities will be submitted to the national competent authorities. These authorities will perform the initial data checks and make the information reported by supervised entities available to the ECB.
(5) For the exercise of the ECB's tasks in respect of supervisory reporting, the manner in which national competent authorities submit to the ECB the information they receive from supervised entities needs to be further specified. In particular, the formats, frequency and timing of such submission of information, as well as the details of the quality checks that national competent authorities should perform before submitting information to the ECB should be further specified.
(6) In accordance with Article 27 of Regulation (EU) No 1024/2013, members of the Supervisory Board, staff of the ECB and staff seconded by participating Member States carrying out supervisory duties are subject to professional secrecy requirements set out in Article 37 of the Statute of the European System of Central Banks and of the European Central Bank and relevant Union law. In particular, the ECB and national competent authorities are subject to the provisions regarding the exchange of information and professional secrecy set out in Directive 2013/36/EU of the European Parliament and of the Council (5),