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Guideline of the European Central Bank

of 15 November 2007

amending Guideline ECB/2002/7 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts

(ECB/2007/13)

(2007/771/EC)

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 Articles 5.1 and 5.2, 12.1 and 14.3 thereof,

Whereas:

(1) Article 8(3) of Guideline ECB/2002/7 of 21 November 2002 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts [1] provides that the Governing Council will on a yearly basis review the derogations granted to the national central banks (NCBs) that are unable to comply with the requirements laid down in Article 2 of the Guideline.

(2) Guideline ECB/2005/13 of 17 November 2005 amending Guideline ECB/2002/7 on the statistical reporting requirements of the European Central Bank in the field of quarterly financial accounts [2] and Guideline ECB/2006/6 contained updated derogations from the data reporting requirements in respect of the Member States that had adopted the euro by the time of adoption of those legal acts.

(3) Cyprus will adopt the euro on 1 January 2008 and derogations need to be inserted into Guideline ECB/2002/7 in respect of Cyprus.

(4) In accordance with Article 3.5 of the Rules of Procedure of the European Central Bank, the Governor of the Central Bank of Cyprus has been invited to attend the meeting of the Governing Council adopting this Guideline,

HAS ADOPTED THIS GUIDELINE:

Article 1

Annex III to Guideline ECB/2002/7 is amended in accordance with the Annex to this Guideline.

Article 2

Entry into force

This Guideline shall enter into force on 1 January 2008.

Article 3

Addressees

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

Done at Frankfurt-am-Main, 15 November 2007.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude Trichet

[1] OJ L 334, 11.12.2002, p. 24. Guideline as last amended by Guideline ECB/2006/6 (OJ L 115, 28.4.2006, p. 46).

[2] OJ L 30, 2.2.2006, p. 1.

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ANNEX

Annex III to Guideline ECB/2002/7 is amended as follows:

In Table 1 (Current data), the following section is inserted between the sections entitled "Italy" and "Luxembourg":

"CYPRUS

4, 5/2-21/A, B, D-I | Short-term and long-term loans granted by total economy, NFCs, OFIFAs, OFIs, FA, ICPFs, GG and HHs to residents and non-residents, broken down by counterpart sector and area | Fourth quarter 2008" |

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