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7.11.2013 Official
Journal
of
the
European
Union L
297/1
II
(Non-legislative acts)
REGULATIONS
REGULATION (EU) No 1071/2013 OF THE EUROPEAN CENTRAL BANK
of 24 September 2013
concerning the balance sheet of the monetary financial institutions sector (recast)
(ECB/2013/33)
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
2013 on the European system of national and regional
accounts in the European Union ( 4 ), it should be recast in
the interests of clarity.
Having regard to the Statute of the European System of Central
Banks and of the European Central Bank, and in particular
(2) The
European
System
of
Central
Banks
(ESCB)
requires,
Article 5 thereof,
for the fulfilment of its tasks, the production of the
consolidated balance sheet of the monetary financial
institutions (MFI) sector. The principal purpose of such
information is to provide the European Central Bank
Having regard to Council Regulation (EC) No 2533/98 of
(ECB) with a comprehensive statistical picture of
23 November 1998 concerning the collection of statistical
monetary developments in the Member States whose
information by the European Central Bank (
currency is the euro (hereinafter the ‘euro area Member

1 ), and in particular
Articles 5(1) and 6(4) thereof,
States’) which are viewed as one economic territory.
These statistics cover aggregate financial assets and liabil
ities, in terms of stocks and transactions, based on a
complete and homogeneous MFI sector and reporting
population, and are produced on a regular basis. Suffi
Having regard to Council Regulation (EC) No 2531/98 of
ciently detailed statistical data are also necessary to
23 November 1998 concerning the application of minimum
guarantee the continued analytical usefulness of the
reserves by the European Central Bank ( 2 ), and in particular
euro area monetary aggregates and counterparts.
Article 6(4) thereof,
(3)
The ECB is required, in accordance with the Treaty on
the Functioning of the European Union and under the
Having regard to the opinion of the European Commission,
conditions laid down in the Statute of the European
System of Central Banks and of the European Central
Bank (hereinafter the ‘Statute of the ESCB’), to make
regulations to the extent necessary to implement the
ESCB’s tasks as defined in the Statute of the ESCB and
Whereas:
in some cases as laid down in the provisions adopted by
the Council pursuant to Article 129(4) of the Treaty.
(1) Regulation
(EC)
No
25/2009
of
the
European
Central
Bank of 19 December 2008 concerning the balance
(4)
Article 5.1 of the Statute of the ESCB requires the ECB,
sheet of the monetary financial institutions sector
assisted by the national central banks (NCBs), to collect
(ECB/2008/32) (
the necessary statistical information either from the

3 ) has been substantially amended.
Since further amendments are to be made, in particular
competent national authorities or directly from
in the light of Regulation (EU) No 549/2013 of the
economic agents in order to undertake the ESCB’s
European Parliament and of the Council of 21 May
tasks. Article 5.2 of the Statute of the ESCB stipulates
that the NCBs carry out, to the extent possible, the tasks
described in Article 5.1.
( 1 ) OJ L 318, 27.11.1998, p. 8.
( 2 ) OJ L 318, 27.11.1998, p. 1.
( 3 ) OJ L 15, 20.1.2009, p. 14.
( 4 ) OJ L 174, 26.6.2013, p. 1.

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Official Journal of the European Union
7.11.2013
(5) Article
3
of
Regulation
(EC)
No
2533/98
requires
the (9) For
the
purpose
of
collecting
statistical
information
on
ECB to specify the actual reporting population within
MFIs’ securities portfolios, pursuant to Regulation (EU)
the limits of the reference reporting population and
No 1011/2012 of the European Central Bank of
entitles it to fully or partly exempt specific classes of
17 October 2012 concerning statistics on the holding
reporting agents from its statistical reporting require
of securities (ECB/2012/24) ( 1 ), NCBs report quarterly
ments. Article 6(4) provides that the ECB may adopt
on a security-by-security basis. NCBs may combine the
regulations specifying the conditions under which the
reporting requirements under this Regulation and Regu
right to verify or to carry out the compulsory collection
lation (EU) No 1011/2012 (ECB/2012/24) where this
of statistical information may be exercised.
may minimise the reporting burden on credit institutions.
NCBs may allow money market funds (MMFs) to report
in line with Regulation (EU) No 1073/2013 of the
European Central Bank of 18 October 2013 concerning
statistics on the assets and liabilities of investment funds
(ECB/2013/38) (
(6) Article
4
of
Regulation
(EC)
No
2533/98
requires

2 ), so as to alleviate the burden on fund
Member States to organise themselves in the field of
managers.
statistics and to cooperate fully with the ESCB in order
to ensure fulfilment of the obligations arising from
Article 5 of the Statute of the ESCB.
(10) Financial
transactions
are
computed
by
the
ECB
as
the
difference between stock positions at end-month
reporting dates, from which the effect of changes that
arise due to influences other than transactions is
removed. The requirement addressed to the reporting
(7) It
may
be
appropriate
for
NCBs
to
collect
from
the
actual
reporting population the statistical information necessary
agents does not cover the exchange rate changes,
to fulfil the ECB’s statistical requirements as part of a
which are calculated by the ECB, or by NCBs after
broader statistical reporting framework which the NCBs
consulting the ECB, from currency-by-currency stock
establish under their own responsibility in accordance
data supplied by the reporting agents, or the reclassifi
with Union or national law or established practice and
cation adjustments, which are collected by the NCBs
which also serves other statistical purposes, provided that
themselves using various information sources that are
the fulfilment of the ECB’s statistical requirements is not
already available.
jeopardised. This may also reduce the reporting burden.
In order to foster transparency, it is appropriate, in these
cases, to inform the reporting agents that data are
collected to fulfil other statistical purposes. In specific
(11) Article
5
of
Regulation
(EC)
No
2531/98
empowers
the
cases, the ECB may rely on statistical information
ECB to adopt regulations or decisions in order to exempt
collected for such other purposes to fulfil its require
institutions from the minimum reserve requirements, to
ments.
specify modalities to exclude or deduct liabilities owed to
any other institution from the reserve base, and to
establish differing reserve ratios for specific categories
of liabilities. Under Article 6 of Regulation (EC)
No 2531/98, the ECB has the right to collect from insti
(8) The
statistical
requirements
are
most
detailed
where
the
tutions the information necessary for the application of
counterparties are part of the money-holding sector.
minimum reserve requirements, and to verify the
Detailed data are required on: (a) deposit liabilities by
accuracy and quality of the information which insti
subsector and maturity classified further by currency to
tutions provide to demonstrate compliance with the
permit a closer analysis of the developments of the
minimum reserve requirements. In order to reduce the
foreign currency components included in the M3
overall reporting burden, it is desirable for the statistical
monetary aggregate and to facilitate investigations
information regarding the monthly balance sheet to be
concerning the degree of substitutability between
used for the regular calculation of the reserve base of the
foreign currency and euro-denominated components of
credit institutions subject to the ECB’s minimum reserve
M3; (b) loans by subsector, maturity, purpose, interest
system, in accordance with Regulation (EC)
rate reset and currency, as this information is considered
No 1745/2003 of the European Central Bank of
essential for monetary analysis purposes; (c) positions vis-
12 September 2003 on the application of minimum
à-vis other MFIs in so far as this is necessary to allow for
reserves (ECB/2003/9) ( 3 ).
netting of inter-MFI balances or to calculate the reserve
base; (d) positions vis-à-vis non-euro area residents (rest
of the world) for ‘deposits over two years agreed
maturity’, ‘deposits redeemable at notice over two years’
(12) The
determination
of
specific
procedures
to
be
applied
in
and ‘repos’ in order to calculate the reserve base subject
the case of mergers involving credit institutions is
to the positive reserve ratio; (e) positions vis-à-vis the rest
necessary in order to clarify the obligations of these
of the world for total deposit liabilities in order to
institutions in respect of reserve requirements.
compile the external counterparts; (f) deposit liabilities
and loans vis-à-vis the rest of the world below and
( 1 ) OJ L 305, 1.11.2012, p. 6.
above one year original maturity for balance of
( 2 ) See p. 73 of this Official Journal.
payments and financial accounts purposes.
( 3 ) OJ L 250, 2.10.2003, p. 10.

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Journal
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European
Union L
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(13) The ECB requires information on the securitisation
(i) credit institutions as defined in Article 4(1)(1) of
activities of MFIs in order to interpret credit and loan
Regulation (EU) No 575/2013 of the European
developments in the euro area. Such information also
Parliament and of the Council of 26 June 2013
complements data reported under Regulation (EU)
on prudential requirements for credit institutions
No 1075/2013 of the European Central Bank of
and investment firms ( 2 ), and
18 October 2013 concerning statistics on the assets
and liabilities of financial vehicle corporations engaged
in securitisation transactions (ECB/2013/40) ( 1 ).
(ii) deposit-taking corporations other than credit
institutions which are:
(14) While it is recognised that regulations adopted by the
ECB under Article 34.1 of the Statute of the ESCB do
not confer any rights or impose any obligations on
— other financial institutions which are prin
Member States whose currency is not the euro (here
cipally engaged in financial intermediation
inafter the ‘non-euro area Member States’), Article 5 of
and whose business is to receive deposits
the Statute of the ESCB applies to both euro area and
and/or close substitutes for deposits from
non-euro area Member States. Recital 17 of Regulation
institutional units, not only from MFIs (the
(EC) No 2533/98 refers to the fact that Article 5 of the
degree of substitutability between the
Statute of the ESCB, together with Article 4(3) of the
instruments issued by other MFIs and the
Treaty on European Union, implies an obligation to
deposits placed with credit institutions shall
design and implement at national level all the measures
determine their classification as MFIs); and
that the non-euro area Member States consider appro
for their own account, at least in economic
priate in order to carry out the collection of the statistical
terms, to grant loans and/or make
information needed to fulfil the ECB’s statistical reporting
investments in securities, or
requirements and timely preparations in the field of stat
istics in order for them to become euro area Member
States.
— electronic money institutions that are prin
cipally engaged in financial intermediation in
the form of issuing electronic money; or
(15) The
standards
for
the
protection
and
use
of
confidential
statistical information as laid down in Article 8 of Regu
lation (EC) No 2533/98 should apply.
(b) money market funds (MMFs) pursuant to Article 2;
(16) Article
7(1)
of
Regulation
(EC)
No
2533/98
provides
that
the ECB has the power to impose sanctions on reporting
(b) ‘reporting agent’ and ‘resident’ have the same meaning as
agents which fail to comply with statistical reporting
defined in Article 1 of Regulation (EC) No 2533/98;
requirements set out in ECB regulations or decisions,
(c) ‘relevant NCB’ means the NCB of the euro area Member
HAS ADOPTED THIS REGULATION:
State in which the MFI is resident;
Article 1
(d) ‘financial vehicle corporation (FVC)’ has the same meaning
as defined in Article 1 of Regulation (EU) No 1075/2013
Definitions
(ECB/2013/40);
For the purpose of this Regulation:
(e) ‘securitisation’ means a transaction that is either: (a) a tradi
(a) ‘monetary financial institution’ (MFI) means a resident
tional securitisation as defined in Article 4 of Regulation
undertaking that belongs to any of the following sectors:
(EU) No 575/2013; and/or (b) a securitisation as defined in
Article 1 of Regulation (EU) No 1075/2013
(ECB/2013/40), which involves the disposal of the loans
being securitised to an FVC;
1. central banks; and
2. other MFIs, which comprise
(f) ‘electronic money institution’ and ‘electronic money’ have
the same meaning as defined in Article 2(1) and (2) of
Directive 2009/110/EC of the European Parliament and
of the Council ( 3 );
(a) deposit-taking corporations:
( 2 ) OJ L 176, 27.6.2013, p. 1.
( 1 ) See p. 107 of this Official Journal.
( 3 ) OJ L 267, 10.10.2009, p. 7.

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(g) ‘write-down’ means the direct reduction of the carrying
collective investment in transferable securities (UCITS) ( 1 ),
amount of a loan on the balance sheet due to its
or deposits with credit institutions or, alternatively, ensure
impairment;
that the liquidity and valuation of the portfolio in which
they invest is assessed on an equivalent basis;
(h) ‘write-off’ means a write-down of the full carrying amount
of a loan leading to its removal from the balance sheet;
(c) ensure that the money market instruments they invest in are
of high quality, as determined by the management
company. The quality of a money market instrument shall
be considered, inter alia, on the basis of the following
(i) ‘servicer’
means
an
MFI
which
manages
loans
underlying
a
factors:
securitisation or loans that have otherwise been transferred
in terms of the collection of principal and interest from the
obligors;
(i) the credit quality of the money market instrument;
(j) ‘loan disposal’ means the economic transfer of a loan or
(ii) the nature of the asset class represented by the money
pool of loans by the reporting agent to a transferee,
market instrument;
achieved either by transfer of ownership or by sub-partici
pation;
(iii) for structured financial instruments, the operational and
counterparty risk inherent within the structured
(k) ‘loan acquisition’ means the economic transfer of a loan or
financial transaction;
pool of loans from a transferor to the reporting agent,
achieved either by transfer of ownership or by sub-partici
pation;
(iv) the liquidity profile;
(l) ‘intra-group positions’ mean positions between euro area
(d) ensure that their portfolio has a weighted average maturity
deposit-taking corporations that belong to the same
(WAM) of no more than six months and a weighted average
group, consisting of a parent and all its directly or indi
life (WAL) of no more than 12 months (in accordance with
rectly controlled euro area resident group-members;
Annex I, Part 1, Section 2);
(e) provide daily net asset value (NAV) and a price calculation
(m) ‘tail institution’ means a small MFI that has been granted a
of their shares/units, and daily subscription and redemption
derogation pursuant to Article 9(1);
of shares/units;
(n) ‘derecognition’ means the removal of a loan or part thereof
(f) limit investment in securities to those with a residual
from the stocks reported in accordance with Parts 2 and 3
maturity until the legal redemption date of less than or
of Annex I, including its removal due to the application of
equal to two years, provided that the time remaining until
a derogation referred to in Article 9(4).
the next interest rate reset date is less than or equal to
397 days whereby floating rate securities should reset to a
money market rate or index;
Article 2
Identification of MMFs
(g) limit investment in other collective investment undertakings
Collective investment undertakings complying with all the
to those complying with the definition of MMFs;
following shall be treated as MMFs, where they:
(h) do not take direct or indirect exposure to equity or
commodities, including via derivatives and only use
(a) pursue the investment objective of maintaining a fund’s
derivatives in line with the money market investment
principal and providing a return in line with the interest
strategy of the fund. Derivatives which give exposure to
rates of money market instruments;
foreign exchange may only be used for hedging purposes.
Investment in non-base currency securities is allowed
provided the currency exposure is fully hedged;
(b) invest in money market instruments which comply with the
criteria for money market instruments set out in Directive
2009/65/EC of the European Parliament and of the Council
(i) have either a constant or fluctuating NAV.
of 13 July 2009 on the coordination of laws, regulations
and administrative provisions relating to undertakings for
( 1 ) OJ L 302, 17.11.2009, p. 32.

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Union L
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Article 3
stocks relating to the end-of-month balance sheet; and
(b) monthly aggregated revaluation adjustments. Aggregated
Actual reporting population
revaluation adjustments shall be reported in respect of loan
1. The
actual
reporting
population
shall
consist
of
the
MFIs write-offs and write-downs corresponding to the loans and
resident in the territory of the euro area Member States (in line
covering the price revaluations of securities. Further details on
with Part 1 of Annex II).
certain items of the balance sheet information shall be reported
quarterly or annually. NCBs may collect the quarterly data on a
monthly basis if this facilitates the data production process. The
required statistical information is specified in Annex I.
2. The
MFIs
in
the
actual
reporting
population
shall
be
subject to full statistical reporting requirements unless any dero
gation granted pursuant to Article 9 applies.
2. NCBs
may
collect
the
required
statistical
information
on
securities issued and held by MFIs on a security-by-security
3. Entities
which
meet
the
MFI
definition
shall
fall
under
the basis, to the extent that the data referred to in paragraph 1
scope of this Regulation even if they are excluded from the
can be derived in accordance with the minimum statistical
scope of Regulation (EU) No 575/2013.
standards specified in Annex IV.
4. For
the
purpose
of
the
collection
of
statistical
information 3. MFIs
shall
report
in
accordance
with
the
minimum
on the residency of the holders of MMF shares/units as specified
requirements set out in Table 1A of Part 4 of Annex I
in Section 5.7 of Part 2 of Annex I, the actual reporting popu
monthly revaluation adjustments in respect of the full set of
lation shall also consist of other financial intermediaries except
data required by the ECB. NCBs may collect additional data not
insurance corporations and pension funds (‘OFIs’), subject to
covered by the minimum requirements. These additional data
any derogations under Article 9(2)(c). For the purpose of this
may refer to the breakdowns marked in Table 1A other than
Regulation, NCBs may establish and maintain a list of OFIs that
the ‘minimum requirements’.
form part of the actual reporting population in accordance with
the principles set out in Section 5.7 of Part 2 of Annex I.
4. The
ECB
may
require
explanatory
information
on
the
adjustments in ‘reclassifications and other adjustments’
Article 4
collected by the NCBs.
List of MFIs for statistical purposes
1. The
Executive
Board
shall
establish
and
maintain
a
list
of
MFIs for statistical purposes, taking into account the
5. The ECB may impose sanctions on reporting agents which
requirements in respect of frequency and timeliness which
fail to comply with the statistical reporting requirements set out
arise from its use in the context of the ECB’s minimum
in this Regulation in accordance with Decision ECB/2010/10 of
reserve system. The list of MFIs for statistical purposes shall
19 August 2010 on non-compliance with statistical reporting
include an entry on whether or not they are subject to the
requirements ( 1 ).
ECB’s minimum reserve system. The list of MFIs shall be up-
to-date, accurate, as homogeneous as possible and sufficiently
stable for statistical purposes.
Article 6
Additional statistical reporting requirements for loan
2. The list of MFIs for statistical purposes and its updates
securitisations and other loan transfers
shall be made accessible by NCBs and the ECB to the reporting
MFIs shall report the following:
agents in an appropriate manner, including by electronic means,
via the internet or, at the request of the reporting agents, in
paper form.
(a) the net flow of loan securitisations and other loan transfers
carried out during the reporting period, in accordance with
3. The list of MFIs for statistical purposes shall be for
Section 2 of Part 5 of Annex I;
information only. However, if the latest accessible version of
the list is incorrect, the ECB shall not impose sanctions on
any entity which did not properly fulfil its statistical reporting
(b) the end-of-period amount outstanding and financial trans
requirements to the extent that it relied in good faith on the
actions excluding loan disposals and acquisitions during the
incorrect list.
relevant period in respect of securitised and derecognised
loans for which the MFI acts as servicer in accordance
with Section 3 of Part 5 of Annex I. NCBs may extend
Article 5
such reporting requirements to all derecognised loans
serviced by MFIs that have been securitised or otherwise
Statistical reporting requirements
transferred;
1. The
actual
reporting
population
shall
report
to
the
NCB
of
the Member State in which the MFI is resident: (a) monthly
( 1 ) OJ L 226, 28.8.2010, p. 48.

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Official Journal of the European Union
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(c) the end-of-quarter amount outstanding in respect of all
agreed at the time of their acquisition, provided that such
loans for which the MFI acts as servicer in a securitisation,
reporting practices are applied by all resident reporting agents.
in accordance with Section 4 of Part 5 of Annex I;
Article 9
(d) when applying the International Accounting Standard 39
Derogations
(IAS 39), the International Financial Reporting Standard 9
(IFRS 9) or similar national accounting rules, the end-of-
1. Derogations
may
be
granted
to
small
MFIs,
as
follows:
period amount outstanding in respect of loans disposed of
by means of a securitisation that has not been derecognised
from the balance sheet, in accordance with Section 5 of
(a) NCBs may grant derogations to small MFIs, provided that
Part 5 of Annex I.
their combined contribution to the national MFI balance
sheet in terms of stocks does not exceed 5 %;
Article 7
(b) with regard to credit institutions, the derogations referred to
Timeliness
in point (a) shall have the effect of reducing the statistical
1. NCBs
shall
decide
when
and
with
which
periodicity
they
reporting requirements of credit institutions to which such
need to receive data from reporting agents in order to meet the
derogations apply without prejudice to the requirements for
deadlines set out below, taking into account the timeliness
the calculation of minimum reserves as set out in Annex III;
requirements of the ECB’s minimum reserve system where
relevant, and shall inform the reporting agents accordingly.
(c) with regard to small MFIs, where a derogation referred to in
point (a) applies, NCBs shall continue, as a minimum, to
collect data relating to the total balance sheet at least at an
2. Monthly
statistics
shall
be
transmitted
by
the
NCBs
to
the
annual frequency so that the combined contribution to the
ECB by close of business on the 15th working day following
national MFI balance sheet of the tail institutions can be
the end of the month to which they relate.
monitored;
3. Quarterly
statistics
shall
be
transmitted
by
the
NCBs
to
the (d) without prejudice to point (a), NCBs may grant derogations
ECB by close of business on the 28th working day following
to credit institutions that do not benefit from the regime
the end of the quarter to which they relate.
laid down in points (a) and (b) with the effect of reducing
their reporting requirements to those laid down in Part 6 of
Annex I, provided that their combined contribution to the
Article 8
national MFI balance sheet in terms of stocks exceeds
neither 10 % of the national MFI balance sheet nor 1 % of
Accounting rules for the purposes of statistical reporting
the euro area MFI balance sheet;
1. Unless
otherwise
provided
for
in
this
Regulation,
the
accounting rules followed by MFIs for the purposes of
reporting under this Regulation shall be those laid down in
(e) NCBs shall check the fulfilment of the conditions set out in
the national transposition of Council Directive 86/635/EEC of
points (a) and (d) in good time in order to grant or
8 December 1986 on the annual accounts and consolidated
withdraw, if necessary, any derogation with effect from
accounts of banks and other financial institutions ( 1 ), as well
the start of each year;
as in any other international standards applicable.
(f) small MFIs may choose not to make use of the derogations
2. Deposit liabilities and loans shall be reported at their
and to fulfil the full reporting requirements instead.
principal amount outstanding at the end of the month. Write-
offs and write-downs as determined by the relevant accounting
practices shall be excluded from this amount. Deposit liabilities
2. Derogations
may
be
granted
to
MMFs
by
NCBs,
as
and loans shall not be netted against any other assets or liabil
follows:
ities.
(a) NCBs may grant derogations to MMFs from the statistical
reporting requirements set out in Article 5(1) provided that
3. Without
prejudice
to
accounting
practices
and
netting
MMFs instead report balance sheet data in accordance with
arrangements prevailing in the euro area Member States, all
Article 5 of Regulation (EU) No 1073/2013 (ECB/2013/38),
financial assets and liabilities shall be reported on a gross
subject to the following requirements:
basis for statistical purposes.
(i) MMFs report such data on a monthly basis in
4. NCBs may allow the reporting of provisioned loans net of
accordance with the ‘combined approach’ set out in
provisions and the reporting of purchased loans at the price
Annex I to Regulation (EU) No 1073/2013
(ECB/2013/38) and in accordance with the timeliness
( 1 ) OJ L 372, 31.12.1986, p. 1.
requirements set out in Article 9 thereof; and

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(ii) MMFs report end-of-month stock data on MMF
(b) NCBs may grant derogations in respect of the frequency and
shares/units in accordance with the timeliness
timeliness of the reporting of price revaluations of securities
requirements set out in Article 7(2);
and require these data on a quarterly basis and with the
same timeliness as for stock data reported on a quarterly
basis, subject to the following requirements:
(b) NCBs may also grant derogations to MMFs from the
following statistical reporting requirements:
(i) reporting agents, using different valuation methods, shall
provide the NCBs with the relevant information on
(i) to provide the total positions for: (1) deposits of and
valuation practices, including quantitative indications
loans granted to central banks and deposit-taking
on the percentage of their holdings of these instruments;
corporations; (2) deposits of and loans granted to all
and
counterpart sectors apart from the non-financial
corporations sector broken down by original maturity;
and (3) intra-euro area cross-border deposits and loans
(ii) where a substantial price revaluation has occurred, NCBs
broken down by country and by sector;
shall be entitled to request reporting agents to provide
additional information relating to the month in which
this took place;
(ii) to provide the total accrued interest for loans and
deposits;
(c) NCBs may grant derogations in respect of the reporting of
price revaluations of securities, including the granting of
complete exemption from any such reporting, to credit
(iii) to provide asset and liabilities positions vis-à-vis the
institutions which report the monthly stocks of securities
insurance corporations and the pension funds sectors
on a security-by-security basis, subject to the following
separately;
requirements:
(iv) to provide information on intra-group positions, loans
(i) the information reported includes, for each security, its
and deposits;
carrying value on the balance sheet; and
(c) NCBs may grant derogations in respect of the statistical
(ii) for securities without publicly available identification
reporting requirements as regards the residency of the
codes, the information reported includes information
holders of MMF shares/units:
on the instrument category, maturity and issuer which
is at least sufficient for the derivation of the breakdowns
defined as ‘minimum requirements’ in Part 5 of Annex I.
(i) where MMF shares/units are issued for the first time or
where market developments require a change of a
reporting option or the combination thereof, as
4. Derogations
may
be
granted
to
MFIs
in
respect
of
the
defined in Section 5.7(b) of Part 2 of Annex I, NCBs
statistical reporting of loans that are disposed of by means of
may grant derogations, for a period of one year, in
a securitisation.
respect of the statistical reporting requirements set out
in Section 5.7 of Part 2 of Annex I; or
MFIs applying the International Accounting Standard 39
(IAS 39), the International Financial Reporting Standard 9
(ii) where the required statistical information on the
(IFRS 9) or similar national accounting rules may be allowed
residency of the holders of MMF shares/units is
by their NCB to exclude from the stocks required by Parts 2 and
collected from other available sources in accordance
3 of Annex I any loans disposed of by means of a securitisation
with Section 5.7 of Part 2 of Annex I. NCBs shall
in accordance with national practice, provided that this practice
check the fulfilment of this condition in good time in
is applied by all resident MFIs.
order to grant or withdraw, if necessary, any derogation
with effect from the start of each year, in agreement
with the ECB.
5. NCBs
may
grant
derogations
to
MFIs
in
respect
of
reporting certain quarterly stocks related to non-euro area
Member States.
3. Derogations
may
be
granted
in
respect
of
reporting
revaluation adjustments to MFIs, as follows:
If figures collected at a higher level of aggregation show that
positions vis-à-vis counterparties resident in any non-euro area
(a) without prejudice to paragraph 1, NCBs may grant dero
Member State or positions vis-à-vis the currency of a non-euro
gations in respect of the reporting of revaluation
area Member State are insignificant, an NCB may decide not to
adjustments to MMFs, removing from the MMFs any
require reporting in relation to such a Member State. The NCB
requirement to report revaluation adjustments;
shall inform its reporting agents of any such decision.

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Article 10
requirements are without prejudice to the obligation for
reporting agents always to report correct statistical information
Minimum standards and national reporting arrangements
and to revise, as soon as possible, any incorrect statistical
1. Reporting agents shall comply with the statistical information they have already reported.
reporting requirements to which they are subject in accordance
with the minimum standards for transmission, accuracy,
compliance with concepts and revisions specified in Annex IV.
Article 13
Verification and compulsory collection
2. The
NCBs
shall
define
and
implement
the
reporting The NCBs shall exercise the right to verify or collect compul
arrangements to be followed by the actual reporting population
sorily the information which reporting agents are required to
in accordance with national requirements. The NCBs shall
provide pursuant to this Regulation, without prejudice to the
ensure that these reporting arrangements provide the required
ECB’s right to exercise these rights itself. In particular, the NCBs
statistical information and allow accurate checking of the
shall exercise this right when an institution included in the
fulfilment of the minimum standards for transmission,
actual reporting population does not fulfil the minimum
accuracy, compliance with concepts and revisions specified in
standards for transmission, accuracy, compliance with
Annex IV.
concepts and revisions specified in Annex IV.
Article 11
Article 14
Mergers, divisions and reorganisations
First reporting
In the event of a merger, division or any other reorganisation
1. First reporting pursuant to this Regulation shall start with
that might affect the fulfilment of its statistical obligations, the
data for December 2014.
actual reporting agent concerned shall inform the relevant NCB,
once the intention to implement such an operation has become
public and within a reasonable time before it takes effect, of the
procedures that are planned to fulfil the statistical reporting
2. First reporting according to this Regulation in respect of
requirements set out in this Regulation.
cells corresponding to euro area Member States in Table 3 of
Part 3 of Annex I shall begin with the first quarterly data after
the date of their adoption of the euro.
Article 12
Use of the reported statistical information for the purpose
of minimum reserves
3. First reporting according to this Regulation in respect of
cells corresponding to non-euro area Member States in Tables 3
1. The
statistical
information
reported
by
credit
institutions and 4 of Part 3 of Annex I shall begin with the first quarterly
in accordance with this Regulation shall be used by each credit
data after the date of their accession to the Union. If the
institution to calculate its reserve base in accordance with Regu
relevant NCB decides not to require first reporting of insig
lation (EC) No 1745/2003 (ECB/2003/9). In particular, each
nificant data beginning with the first quarterly data after the
credit institution shall use this information to verify the
date of the relevant Member State or Member States’ accession
fulfilment of its reserve requirement over the maintenance
to the Union, reporting shall begin 12 months after the NCB
period.
informs the reporting agents that data are required.
2. The reserve base data for the tail institutions for three
Article 15
reserve maintenance periods shall be based on end-of-quarter
data collected by the NCBs within 28 working days following
Repeal
the end of the quarter to which they relate.
1. Regulation
(EC)
No
25/2009
(ECB/2008/32)
is
repealed
with effect from 1 January 2015.
3. The special rules on the application of the ECB’s
minimum reserve system set out in Annex III shall prevail
over any provisions of Regulation (EC) No
1745/2003
2. References
to
the
repealed
Regulation
shall
be
construed
(ECB/2003/9) in the case of conflict.
as references to this Regulation and shall be read in accordance
with the correlation table set out in Annex VI.
4. In
order
to
facilitate
the
liquidity
management
of
the
ECB
and of credit institutions, reserve requirements shall be
Article 16
confirmed at the latest on the first day of the maintenance
Final provision
period; however the need may exceptionally arise for credit
institutions to report revisions to the reserve base or to
This Regulation shall enter into force on the twentieth day
reserve requirements which have been confirmed. The
following that of its publication in the Official Journal of the
procedures for confirmation or acknowledgement of reserve
European Union. It shall apply from 1 January 2015.

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This Regulation shall be binding in its entirety and directly applicable in the Member States in
accordance with the Treaties.
Done at Frankfurt am Main, 24 September 2013.
For the Governing Council of the ECB
The President of the ECB
Mario DRAGHI

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ANNEX I
MONETARY FINANCIAL INSTITUTIONS AND STATISTICAL REPORTING REQUIREMENTS
Introduction
The statistical system for the Member States whose currency is the euro (hereinafter the ‘euro area Member States’
covering the balance sheet of the monetary financial institution (MFI) sector comprises the two following main elements:
(a) a list of MFIs for statistical purposes (see Part 1 for identification of certain MFIs); and
(b) a specification of the statistical information reported by these MFIs at monthly, quarterly and annual frequency (see
Parts 2, 3, 4, 5, 6 and 7).
For the purpose of obtaining complete information on the MFIs’ balance sheets, it is also necessary to impose certain
statistical reporting requirements on non-MMF investment funds (IFs) and on other financial intermediaries except
insurance corporations and pension funds (hereinafter the ‘OFIs’), when acting in the context of financial activities
involving money market fund (MMF) shares/units. This statistical information is collected by the national central
banks (NCBs) from the MFIs and from IFs and OFIs, in accordance with Part 2 and according to national arrangements
relying on the harmonised definitions and classifications set out in Article 1 and Annex II.
The money stock includes notes and coins in circulation and other monetary liabilities (deposits and other financial
instruments which are close substitutes for deposits) of MFIs. The counterparts to the money stock comprise all other
items in the MFI balance sheet. The ECB also compiles financial transactions derived from the stocks and from other data,
including revaluation adjustment data reported by MFIs (see Part 5).
The statistical information required by the ECB is summarised in Part 8.
PART 1
Identification of certain MFIs
SECTION 1
Identification of certain MFIs based on principles of substitutability of deposits
1.1 Financial institutions other than credit institutions which issue financial instruments that are considered close
substitutes for deposits are classified as MFIs provided that they meet the MFI definition in other respects. The
classification is based on the criteria of substitutability of deposits, i.e. whether liabilities are classified as deposits,
which is determined by their liquidity, combining characteristics of transferability, convertibility, certainty and
marketability, and having regard, where appropriate, to their term of issue.
These criteria for the substitutability of deposits are also applied to determine whether liabilities should be classified
as deposits, unless there is a separate category for such liabilities.
1.2 For the purposes both of determining substitutability of deposits and classifying liabilities as deposits:
(a) transferability refers to the possibility of mobilising funds placed in a financial instrument by using payment
facilities, such as cheques, transfer orders, direct debits or similar means;
(b) convertibility refers to the possibility and the cost of converting financial instruments into currency or trans
ferable deposits; the loss of fiscal advantages in the case of such conversion may be considered a penalty that
reduces the degree of liquidity;
(c) certainty means knowing precisely in advance the capital value of a financial instrument in terms of national
currency;
(d) securities quoted and traded regularly on an organised market are considered to be marketable. For shares in
open-end collective investment undertakings, there is no market in the usual sense. Nevertheless, investors know
the daily quotation of the shares and can withdraw funds at this price.

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SECTION 2
Specifications for the MMFs’ identification criteria
For the purpose of Article 2:
(a) the money market instrument shall be considered to be of a high credit quality, if it has been awarded one of the two
highest available short-term credit ratings by each recognised credit rating agency that has rated the instrument or, if
the instrument is not rated, it is of an equivalent quality as determined by the management company’s internal rating
process. Where a recognised credit rating agency divides its highest short-term rating into two categories, these two
ratings shall be considered as a single category and therefore the highest rating available;
(b) the money market fund may, as an exception to the requirement in point (a), hold sovereign issuance of at least
investment grade quality, whereby ‘sovereign issuance’ means money market instruments issued or guaranteed by a
central, regional or local authority or central bank of a Member State, the ECB, the Union or the European Investment
Bank;
(c) when calculating WAL for securities, including structured financial instruments, the maturity calculation is based on
the residual maturity until the legal redemption of the instruments. However, when a financial instrument embeds a
put option, the exercise date of the put option may be used instead of the legal residual maturity only if the following
conditions are fulfilled at all times:
(i) the put option may be freely exercised by the management company at its exercise date;
(ii) the strike price of the put option remains close to the expected value of the instrument at the next exercise date;
(iii) the investment strategy of the MMF implies that there is a high probability that the option will be exercised at the
next exercise date;
(d) when calculating both WAL and WAM, the impact of financial derivative instruments, deposits and efficient portfolio
management techniques shall be taken into account;
(e) ‘weighted average maturity’ (WAM) shall mean a measure of the average length of time to maturity of all of the
underlying securities in the fund weighted to reflect the relative holdings in each instrument, assuming that the
maturity of a floating rate instrument is the time remaining until the next interest rate reset to the money market rate,
rather than the time remaining before the principal value of the security must be repaid. In practice, WAM is used to
measure the sensitivity of a MMF to changing money market interest rates;
(f) ‘weighted average life’ (WAL) shall mean the weighted average of the remaining maturity of each security held in a
fund, meaning the time until the principal is repaid in full, disregarding interest and not discounting. Contrary to the
calculation of the WAM, the calculation of the WAL for floating rate securities and structured financial instruments
does not permit the use of interest rate reset dates and instead only uses a security’s stated final maturity. WAL is used
to measure the credit risk, as the longer the reimbursement of principal is postponed, the higher the credit risk. WAL
is also used to limit the liquidity risk;
(g) ‘money market instruments’ means instruments normally traded on the money market which are liquid and have a
value which can be accurately determined at any time;
(h) ‘management company’ means a company, the regular business of which is the management of the portfolio of an
MMF.
PART 2
Balance sheet (monthly stocks)
To compile the euro area monetary aggregates and counterparts, the ECB requires the data in Table 1 as follows:
1. Instrument
categories
(a) Liabilities
The relevant instrument categories are: currency in circulation, deposit liabilities, MMF shares/units issued, debt
securities issued, capital and reserves and remaining liabilities. In order to separate monetary and non-monetary
liabilities, deposit liabilities are also broken down into overnight deposits, deposits with agreed maturity, deposits
redeemable at notice and repurchase agreements (repos). See definitions in Annex II.

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(b) Assets
The relevant instrument categories are: cash, loans, debt securities held, equity, investment fund shares, fixed
assets and remaining assets. See definitions in Annex II.
2. Breakdown
by
maturity
Original maturity cut-offs provide a substitute for instrument detail where financial instruments are not fully
comparable between markets.
(a) Liabilities
The cut-off points for the maturity bands, or for periods of notice, are: for deposits with agreed maturity, at one
year and two years’ maturity at issue; and for deposits redeemable at notice, at three months’ and two years’
notice. Repos are not broken down by maturity as these are usually very short-term instruments, i.e. usually less
than three months’ maturity at issue. Debt securities issued by MFIs are broken down at one and two years. No
maturity breakdown is required for shares/units issued by MMFs.
(b) Assets
The cut-off points for the maturity bands are: for MFI loans to euro area residents (other than MFIs) by subsector
and further for MFI loans to households by purpose, at one and five year maturity bands; and for MFI holdings of
debt securities issued by other MFIs located in the euro area, at one and two year maturity bands to enable the
inter-MFI holdings of this instrument to be netted off in the calculation of the monetary aggregates.
3. Breakdown by purpose and separate identification of loans to sole proprietorships/partnerships without legal status
Loans to households and non-profit institutions serving households are further broken down by loan purpose (credit
for consumption, lending for house purchase, other lending). Within the category ‘other lending’, loans granted to
sole proprietorships/partnerships without legal status are to be identified separately (see definitions of instrument
categories in Part 2 of Annex II and definitions of sectors in Part 3 of Annex II). NCBs may waive the requirement of
separate identification of loans to sole proprietorships/partnerships without legal status if such loans constitute less
than 5 % of the euro area Member State’s total lending to households.
4. Breakdown
by
currency
For balance sheet items that may be used in the compilation of monetary aggregates, balances in euro must be
identified separately so that the ECB has the option of defining monetary aggregates in terms of balances
denominated in all currencies combined or in euro alone.
5. Breakdown
by
sector
and
residency
of
counterparties
5.1 The compilation of the euro area monetary aggregates and counterparts requires the identification of those counter
parties located in the territory of the euro area that form the money-holding sector. For this purpose, non-MFI
counterparties are divided, as set out in the revised European System of Accounts (hereinafter the ‘ESA 2010’) laid
down by Regulation (EU) No 549/2013 (see Part 3 of Annex II), into general government (S.13), with central
government (S.1311) identified separately in total deposit liabilities, and other resident sectors. In order to calculate a
monthly sector disaggregation of the monetary aggregates and credit counterparts, other resident sectors are further
broken down by the following subsectors: non-MMF investment funds (S.124), other financial intermediaries, except
insurance corporations and pension funds + financial auxiliaries + captive financial institutions and money lenders
(S.125 + S.126 + S.127), insurance corporations (S.128), pension funds (S.129), non-financial corporations (S.11)
and households + non-profit institutions serving households (S.14 + S.15). An additional distinction is made for
counterparties that are FVCs and central clearing counterparties, within the merged counterpart sectors (S.125 +
S.126 + S.127). For sole proprietorships/partnerships without legal status see Section 3. With respect to total deposit
liabilities and the deposit categories ‘deposits over two years agreed maturity’, ‘deposits redeemable at notice over
two years’ and ‘repos’, an additional distinction is made between credit institutions, other MFI counterparties and
central government for the purposes of the ECB’s minimum reserve system.
5.2 With respect to total deposit liabilities and the asset category ‘total loans’, an additional distinction is made for
central banks (S.121) and deposit-taking corporations except the central bank (S.122) and for the rest of the world
banks and non-banks to better understand lending and funding policies in the banking sector and to better monitor
interbank activities.
5.3 With respect to intra-group positions, an additional distinction is made for loan and deposit positions and trans
actions between deposit taking corporations except the central bank (S.122) to allow the identification of inter-
linkages between credit institutions belonging to the same group (domestic and other euro area Member States).
5.4 With respect to debt securities holdings with original maturity up to one year, with a currency breakdown, an
additional distinction is made for general government (S.13) to ensure a better overview on the inter-linkages
between sovereigns and banks.

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5.5 Certain deposits/loans arising from repos/reverse repos or analogous operations with other financial intermediaries
(S.125) + financial auxiliaries (S.126) + captive financial institutions and money lenders (S.127) may relate to
transactions with a central counterparty. A central counterparty is an entity that legally interposes itself between
counterparties to contracts traded in financial markets, becoming the buyer to every seller and the seller to every
buyer. Because such transactions are often substitutes for bilateral business among MFIs, an additional distinction is
made within the deposit category ‘repurchase agreements’ with respect to business with these counterparties.
Similarly, an additional distinction is made within the asset category ‘loans’ with respect to reverse repurchase
agreements with these counterparties.
5.6 Domestic counterparties are identified separately from euro area other than domestic counterparties with respect to
all statistical breakdowns. Counterparties located in the euro area are identified according to their domestic sector or
institutional classification in accordance with the lists maintained by the ECB for statistical purposes and the ECB’s
‘Monetary, financial institutions and markets statistics sector manual: Guidance for the statistical classification of
customers’, which follows classification principles that are consistent with the ESA 2010 as far as possible. There is
no requirement for a geographical breakdown of counterparties located outside the euro area.
5.7 In the case of MMF shares/units issued by MFIs of the euro area Member States, reporting agents report as a
minimum data on the residency of the holders according to a domestic/euro area other than domestic/rest of the
world breakdown to allow the exclusion of holdings of non-residents of the euro area. NCBs may also derive the
necessary statistical information from the data collected on the basis of Regulation (EU) No 1011/2012
(ECB/2012/24), to the extent that the data comply with timeliness pursuant to Article 7 of this Regulation and
with the minimum standards defined in Annex IV.
(a) As regards MMF shares/units for which, in accordance with national legislation, a record is kept identifying the
holders thereof, including information on the residency of the holders, issuing MMFs or the persons legally
representing them report data on the residency breakdown of the holders of their shares/units issued in the
monthly balance sheet.
(b) As regards MMF shares/units for which no record is kept identifying the holders thereof, in accordance with
national legislation, or for which a record is kept but it does not contain information on the residency of the
holders, reporting agents report data on the residency breakdown in accordance with the approach decided by
the relevant NCB in agreement with the ECB. This requirement is limited to one or a combination of the
following options, to be selected having regard to the organisation of the relevant markets and the national legal
arrangements in the Member State in question. This requirement will be periodically monitored by the NCB.
(i) Issuing MMFs:
Issuing MMFs or the persons legally representing them report data on the residency breakdown of the
holders of their shares/units issued. Such information may come from the agent distributing the shares/units
or from any other entity involved in the issue, buy-back or transfer of the shares/units.
(ii) MFIs and OFIs as custodians of MMF shares/units:
As reporting agents, MFIs and OFIs acting as custodians of MMF shares/units report data on the residency
breakdown of the holders of shares/units issued by resident MMFs and held in custody on behalf of the
holder or of another intermediary also acting as a custodian. This option is applicable if: (i) the custodian
distinguishes MMF shares/units kept in custody on behalf of holders from those kept on behalf of other
custodians; and (ii) most of the MMF shares/units are in the custody of domestic resident institutions that are
classified as financial intermediaries (MFIs or OFIs).
(iii) MFIs and OFIs as reporters of transactions of residents with non-residents involving shares/units of a resident
MMF:
As reporting agents, MFIs and OFIs acting as reporters of transactions of residents with non-residents
involving shares/units of a resident MMF report data on the residency breakdown of the holders of
shares/units issued by resident MMFs, which they trade on behalf of the holder or another intermediary
also involved in the transaction. This option is applicable if: (i) the reporting coverage is comprehensive, i.e.
it covers substantially all of the transactions carried out by the reporting agents; (ii) accurate data on
purchases and sales with non-residents of the euro area are provided; (iii) differences between issuing
value and redemption value, excluding fees, of the same shares/units are minimal; (iv) the amount of
shares/units held by non-residents of the euro area issued by resident MMFs is low.
(iv) If options (i) to (ii) do not apply, the reporting agents, including MFIs and OFIs, report the relevant data on
the basis of available information.

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PART 3
Balance sheet (quarterly stocks)
To further analyse monetary developments and to serve other statistical purposes, the ECB requires the following in
respect of key items:
1. Subsector, maturity and real estate collateral breakdown of credit to euro area non-MFIs (see Table 2).
This is required to enable the monitoring of the complete subsector and maturity structure of MFIs’ overall credit
financing (loans and securities) vis-à-vis the money-holding sector. For non-financial corporations and households,
further ‘of which’ positions are required identifying the loans secured with real estate collateral.
For loans denominated in euro with original maturity over one and over two years vis-à-vis non-financial corporations
and households, further ‘of which’ positions are required for certain remaining maturities and interest rate reset periods
(see Table 2). An interest rate reset is understood as a change in the interest rate of a loan which is provided for in the
current loan contract. Loans subject to interest rate reset include, inter alia, loans with interest rates which are
periodically revised in accordance with the evolution of an index, e.g. Euribor, loans with interest rates which are
revised on a continuous basis, i.e. floating rates, and loans with interest rates which are revisable at the MFI’s
discretion.
2. Subsector breakdown of MFI deposit liabilities to the general government (other than central government) of the euro
area Member States (see Table 2).
This is required as complementary information to the monthly reporting.
3. Sector breakdown of positions with counterparties outside the euro area (see Table 2).
The sector classification in accordance with the System of National Accounts (hereinafter the ‘SNA 2008’) applies
where the ESA 2010 is not in force.
4. Identification of on-balance sheet positions for derivatives and accrued interest on loans and deposits within the
remaining assets and remaining liabilities (see Table 2).
This breakdown is required for enhancing consistency among statistics.
5. Country breakdown, including positions vis-à-vis the European Investment Bank and the European Stability
Mechanism (see Table 3).
This breakdown is required to analyse further monetary developments and also for the purposes of the transitional
requirements and for data quality checks.
6. Sector breakdown for intra-euro area cross border deposits from and loans to non-MFIs (see Table 3).
This breakdown is required to assess the positions of the MFI sectors in individual Member States vis-à-vis the
remaining euro area Member States.
7. Currency breakdown (see Table 4).
This breakdown is required to permit the calculation of transactions for monetary aggregates and counterparts adjusted
for exchange rate changes where these aggregates include all currencies combined.

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PART 4
Reporting of revaluation adjustments for the compilation of transactions
To compile transactions in respect of the euro area monetary aggregates and counterparts, the ECB requires revaluation
adjustments in respect of the write-offs/write-downs of loans and price revaluation of securities:
1. Write-offs/write-downs of loans
The adjustment in respect of the write-offs/write-downs of loans is reported to allow the ECB to compile financial
transactions from the stocks reported in two consecutive reporting periods. The adjustment reflects any changes in the
stock of loans reported in accordance with Parts 2 and 3 caused by the application of write-downs, including the
writing down of the full outstanding amount of a loan (write-off). The adjustment should also reflect the changes in
provisions on loans if an NCB decides that balance sheet stocks are recorded net of provisions. Write-offs/write-downs
of loans recognised at the time the loan is sold or transferred to a third party are also included, where identifiable.
The minimum requirements for write-offs/write-downs of loans are set out in Table 1A.
2. Price revaluation of securities
The adjustment in respect of the price revaluation of securities refers to fluctuations in the valuation of securities that
arise because of a change in the price at which securities are recorded or traded. The adjustment includes the changes
that occur over time in the value of end-period balance sheet stocks because of changes in the reference value at which
securities are recorded, i.e. potential gains/losses. It may also contain valuation changes that arise from transactions in
securities i.e. realised gains/losses.
The minimum requirements for price revaluation of securities are set out in Table 1A.
No minimum reporting requirement is established for the liability side of the balance sheet. However, if valuation
practices applied by reporting agents to debt securities issued result in changes to their end-period stocks, NCBs are
permitted to collect data relating to such changes. Such data are reported as ‘other revaluation’ adjustments.

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PART 5
Statistical reporting requirements for loan securitisations and other loan transfers
1. General
requirements
Data are reported in accordance with Article 8(2), qualified by those of Article 8(4) when applicable. All data items
are broken down according to the residency and subsector of the loan obligor as indicated in the column headings
of Table 5. Loans disposed of during a warehousing phase in a securitisation are treated as if they were already
securitised.
2. Requirements
for
reporting
net
flows
of
loans
securitised
or
otherwise
transferred
2.1 For the purposes of Article 6(a), MFIs calculate the items in Parts 1 and 2 of Table 5 as net flows of loans securitised
or otherwise disposed of during the relevant period minus loans acquired during the relevant period. Loans trans
ferred to or acquired from another domestic MFI, and loans whose transfer occurs as a result of a division of the
reporting agent, or of a merger or take-over involving the reporting agent and another domestic MFI, are not
included in this calculation. Loans transferred to or acquired from non-domestic MFIs are included in the calculation.
2.2 The items referred to in Section 3.1 are allocated to Parts 1 and 2 of Table 5 as follows:
(a) disposals and acquisitions with an impact on the loan stocks reported in accordance with Parts 2 and 3 of
Annex I, i.e., disposals resulting in derecognition and acquisitions resulting in recognition or re-recognition, are
allocated to Part 1; and
(b) disposals and acquisitions without an impact on the loan stocks reported in accordance with Parts 2 and 3 of
Annex I, i.e., disposals not resulting in derecognition and acquisitions not resulting in recognition or re-recog
nition, are allocated to Part 2.
2.3 The items in Part 1 of Table 5 are, on a monthly basis, further broken down according to the counterparty in the
loan transfer, distinguishing between FVCs, of which FVCs resident in the euro area, and other counterparties.
Further breakdowns by original maturity and purpose of the loan are required on a quarterly basis for some
items as indicated in Table 5(b).
3. Requirements
for
reporting
of
securitised
and
derecognised
loans
which
are
serviced
3.1 MFIs provide data in accordance with Part 3 of Table 5 on loans securitised and derecognised for which the MFI acts
as servicer as follows:
(a) end-of-period amounts outstanding; and
(b) financial transactions excluding loan disposals and acquisitions during the relevant period, i.e. the change in the
amounts outstanding which is attributable to loan principal repayments by borrowers.
3.2 As regards Section 3.1(b), NCBs may instead require MFIs to provide net flows of loan disposals and acquisitions for
which the MFI acts as servicer so that the NCB can derive the financial transactions referred to in Section 3.1(b).
3.3 NCBs may provide a derogation to reporting agents from the requirements of Section 3.1(b) where the net flows
collected in Part 1.1 of Table 5 meet the purpose of Section 3.2, i.e. where it is the national practice that securitised
and derecognised loans are serviced by MFIs. NCBs will ensure that those net flows are consistent with the purposes
of calculating the financial transactions excluding loan disposals and acquisitions under Section 3.1(b). NCBs may
request additional information from MFIs in order to make the necessary adjustments.
3.4 NCBs may extend the statistical reporting requirements of this Section to all derecognised loans serviced by MFIs,
that have been securitised or otherwise transferred. Where this is the case, the NCB will inform MFIs of the statistical
reporting requirements pursuant to Part 3 of Table 5.
4. Requirements
for
reporting
the
outstanding
amounts
of
loans
serviced
in
a
securitisation
4.1 MFIs provide quarterly data on all loans serviced in a securitisation in accordance with Part 4 of Table 5 irrespective
of whether the serviced loans or their respective servicing rights are recognised on the reporting agent’s balance
sheet.

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4.2 With respect to loans serviced for FVCs resident in other euro area Member States, MFIs provide further breakdowns,
by aggregating the serviced loans separately for each Member State in which an FVC is resident.
4.3 NCBs may collect the data referred to in Article 6(b), or part thereof, on an FVC-by-FVC basis from resident MFIs
acting as servicers of securitised loans. If an NCB considers that the data referred to in Section 4.4 and the
breakdowns referred to in Section 4.2 may be collected on an FVC-by-FVC basis, it shall inform the MFIs
whether, and the extent to which, the reporting referred to in Sections 4.1 and 4.2 is required.
5. Statistical reporting requirements for MFIs applying the IAS 39, the IFRS 9 or similar national accounting rules
5.1 MFIs applying the IAS 39, the IFRS 9 or similar rules report the end-of-month amounts outstanding of loans
disposed of by means of a securitisation that have not been subject to derecognition in accordance with Part 5 of
Table 5.
5.2 MFIs to which the derogation in Article 9(6) applies report the end-of-quarter amounts outstanding of the loans
disposed of by means of a securitisation that have been subject to derecognition but are still recognised on the
financial statements in accordance with Part 5 of Table 5.

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PART 6
Simplified reporting for small credit institutions
Credit institutions to which the derogations referred to in Article 9(1)(d) apply may be exempted from the following
requirements:
1. The breakdown by currency referred to in Section 4 of Part 2.
2. The separate identification of:
(a) positions with central counterparties as referred to in Section 5.3 of Part 2;
(b) syndicated loans as indicated in Table 1 of Part 2;
(c) debt securities of up to two years’ maturity and nominal capital guarantee below 100 %, as indicated in Table 1 of
Part 2.
3. The sector breakdown referred to in Section 3 of Part 3.
4. The country breakdown referred to in Section 4 of Part 3.
5. The currency breakdown referred to in Section 5 of Part 3.
In addition, these credit institutions may fulfil the statistical reporting requirements referred to in Parts 2, 5 and 6 by
reporting data only on a quarterly basis and in accordance with the timeliness requirement given for quarterly statistics in
Article 7(3).
PART 7
Summary
Summary of breakdowns for the purposes of the aggregated balance sheet of the MFI sector ( 1 )
INSTRUMENT AND MATURITY CATEGORIES
BALANCE SHEET ITEMS
ASSETS LIABILITIES
1. Cash
8. Currency
in
circulation
2. Loans
9. Deposits
up to 1 year ( 2 )
up to 1 year ( 4 )
over 1 year and up to 5 years ( 2 )
over 1 year ( 4 )
over 5 years ( 2 )
of which: intra-group positions
of which: intra-group positions
of which: syndicated loans
of which: transferable deposits
of which: reverse repos
of which: up to 2 years
of which: revolving loans and overdrafts (euro)
of which: syndicated loans
of which: convenience credit card credit (euro)
9.1. Overnight deposits
of which: extended credit card credit (euro)
of which: transferable deposits
of which: real estate collateral ( 7 )
9.2. Deposits with agreed maturity
Loans with original maturity over 1 year (euro)
up to 1 year
of which: loans with remaining maturity of less than 1 year
over 1 year and up to 2 years
of which: loans with remaining maturity over 1 year and with
over 2 years
interest rate reset in the next 12 months
Loans with original maturity over 2 years (euro)
9.3. Deposits redeemable at notice
of which: loans with remaining maturity of less than 2 years
up to 3 months
of which: loans with remaining maturity over 2 years and with
over 3 months
interest rate reset in the next 24 months
of which: over 2 years ( 5 )
3. Debt
securities
held
9.4. Repos
up to 1 year ( 3 )
10. MMF shares/units
over 1 year and up to 2 years ( 3 )
11. Debt securities issued
over 2 years ( 3 )
up to 1 year
4. Equity
over 1 year and up to 2 years
5. Investment
funds
shares/units
MMF shares/units
of which: up to 2 years and nominal capital guarantee
Non-MMF investment fund shares/units
below 100 %
6. Non-financial
assets
(including
fixed
assets)
over 2 years
7. Remaining
assets
12. Capital and reserves
of which: financial derivatives
13. Remaining liabilities
of which: accrued interest on loans
of which: financial derivatives
of which: accrued interest on deposits
( 1 ) Monthly data breakdowns are indicated in bold, quarterly data breakdowns are indicated in normal type.

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COUNTERPARTIES AND PURPOSE CATEGORIES
ASSETS LIABILITIES
A. Domestic residents
A. Domestic residents
MFIs
MFIs
of which: Central Banks
of which: Central Banks
of which: Deposit-taking corporations except the central
of which: Deposit-taking corporations except the central bank
bank
of which: credit institutions
Non-MFIs
Non-MFIs
General government
General government
central government
central government
state government
other general government
local government
state government
social security funds
local government
Other resident sectors ( 6 )
social security funds
non-MMF investment funds (S.124)
Other resident sectors ( 6 )
other financial intermediaries, financial auxiliaries and
non-MMF investment funds (S.124)
captive financial institutions and money lenders (S.125
other financial intermediaries, financial auxiliaries and
+ S.126 + S.127) ( 6 )
captive financial institutions and money lenders (S.125
of which: central counterparties ( 7 )
+ S.126 + S.127) ( 6 )
of which: FVCs ( 7 )
of which: central counterparties ( 7 )
insurance corporations (S.128)
of which: FVCs ( 7 )
pension funds (S.129) ( 6 )
insurance corporations (S.128)
non-financial corporations (S.11) ( 6 )
pension funds (S.129) ( 6 )
households and non-profit institutions serving
non-financial corporations (S.11) ( 6 )
households (S.14 + S.15) ( 6 )
households and non-profit institutions serving households
credit for consumption ( 7 )
(S.14 + S.15) ( 6 )
lending for house purchase ( 7 )
other lending ( 7 )
B. euro
area
other
than
domestic
residents
of which: sole proprietorships/partnerships
MFIs
without legal status ( 7 )
of which: Central Banks
B. euro
area
other
than
domestic
residents
of which: Deposit-taking corporations except the central bank
MFIs
of which: credit institutions
of which: Central Banks
Non-MFIs
of which: Deposit-taking corporations except the central
General government
bank
central government
Non-MFIs
other general government
General government
state government
central government
local government
state government
social security funds
local government
Other resident sectors ( 6 )
social security funds
non-MMF investment funds (S.124)
Other resident sectors ( 6 )
other financial intermediaries, financial auxiliaries and
non-MMF investment funds (S.124)
captive financial institutions and money lenders (S.125
other financial intermediaries, financial auxiliaries and
+ S.126 + S.127) ( 6 )
captive financial institutions and money lenders (S.125
of which: central counterparties ( 7 )
+ S.126 + S.127) ( 6 )
of which: FVCs ( 7 )
of which: central counterparties ( 7 )
insurance corporations (S.128)
of which: FVCs ( 7 )
pension funds (S.129) ( 6 )
insurance corporations (S.128)
non-financial corporations (S.11) ( 6 )
pension funds (S.129) ( 6 )
households and non-profit institutions serving
non-financial corporations (S.11) ( 6 )
households (S.14 + S.15) ( 6 )
households and non-profit institutions serving
households (S.14 + S.15) ( 6 )
credit for consumption ( 7 )
lending for house purchase ( 7 )
other lending ( 7 )
of which: sole proprietorships/partnerships
without legal status ( 7 )
C. Residents
of
the
rest
of
the
world
C. Residents of the rest of the world
Banks
Banks
Non-banks
Non-banks
General government
General government
Other residents
Other residents
D. Total D. Total

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CURRENCIES
e euro
x foreign
currencies - currencies other than the euro, i.e. other Member States currencies, USD, JPY, CHF, remaining currencies. ( 8 )
( 2 ) Monthly maturity breakdown relates only to loans to main resident sectors other than MFIs and general government of the euro area Member States. The corresponding
maturity breakdowns for loans to general government other than central government of the euro area Member States is quarterly.
( 3 ) Monthly maturity breakdown relates only to holdings of securities issued by MFIs located in the euro area. As quarterly data, holdings of securities issued by non-MFIs in
the euro area are split into ‘up to one year’ and ‘over one year’.
( 4 ) Vis-à-vis the rest of the world only.
( 5 ) The reporting of the item ‘deposits redeemable at notice over two years’ is voluntary until further notice.
( 6 ) Monthly breakdown by subsector is required for loans and deposits.
( 7 ) For loans, a further breakdown by purpose is included for the subsector S.14 + S.15. In addition, for a limited number of instruments, further ‘of which positions’ are
required for some subsectors: ‘of which central counterparties’ and ‘of which financial vehicle corporations’ for the subsector S.125; ‘of which sole proprietorships/
partnerships without legal status’ for loans to the subsector S.14; ‘of which real estate collateral’ for loans to the subsectors S.11 and S.14 + S.15 (quarterly requirements
only).
( 8 ) Quarterly breakdown by currency of each other Member State is required for selected items only.

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ANNEX II
CONSOLIDATION PRINCIPLES AND DEFINITIONS
PART 1
Consolidation for statistical purposes within the same Member State
1. For each Member State whose currency is the euro (hereinafter a ‘euro area Member State’), the reporting population
consists of MFIs included in the list of MFIs for statistical purposes and resident in the territory of the euro area
Member States ( 1 ). These are:
(a) institutions incorporated and located in that territory, including subsidiaries ( 2 ) of parent companies located outside
that territory; and
(b) branches of institutions that have their head office outside that territory.
Institutions located in offshore financial centres are treated statistically as residents of the territories in which the
centres are located.
2. MFIs consolidate for statistical purposes the business of all their domestic offices (registered or head office and/or
branches) located in the same Member State. No consolidation for statistical purposes is permitted across national
boundaries.
(a) If a parent company and its subsidiaries are MFIs located in the same Member State, the parent company is
permitted to consolidate in its statistical returns the business of these subsidiaries, keeping however the business of
credit institutions and other MFIs separate.
(b) If an institution has branches located within the territory of the other euro area Member States, the registered or
head office located in a given euro area Member State considers the positions towards all these branches as
positions towards residents in the other euro area Member States. Conversely, a branch located in a given euro area
Member State considers the positions towards the registered or head office or towards other branches of the same
institution located within the territory of the other euro area Member States as positions towards residents in the
other euro area Member States.
(c) If an institution has branches located outside the territory of the euro area Member States, the registered or head
office located in a given euro area Member State considers the positions towards all these branches as positions
towards residents of the rest of the world. Conversely, a branch located in a given euro area Member State
considers the positions towards the registered or head office or towards other branches of the same institution
located outside the euro area Member States as positions towards residents of the rest of the world.
PART 2
Definitions of instrument categories
1. This table provides a detailed standard description of the instrument categories which national central banks (NCBs)
transpose into categories applicable at the national level in accordance with this Regulation. The table does not
constitute a list of individual financial instruments and the descriptions are not exhaustive. The definitions refer to
the ESA 2010.
2. Original maturity, i.e. maturity at issue, refers to the fixed period of life of a financial instrument before which it
cannot be redeemed, e.g. debt securities, or before which it can be redeemed only with some kind of penalty, e.g. some
types of deposits. The notice period corresponds to the time between the moment the holder gives notice of an
intention to redeem the instrument and the date on which the holder is allowed to convert it into cash without
incurring a penalty. Financial instruments are classified according to the notice period only when there is no agreed
maturity.
3. Financial claims can be distinguished by whether they are negotiable or not. A claim is negotiable if its ownership is
readily capable of being transferred from one unit to another by delivery or endorsement or of being offset in the case
of financial derivatives. While any financial instrument can be potentially traded, negotiable instruments are designed
to be traded on an organised exchange or over-the-counter, although actual trading is not a necessary condition for
negotiability.
( 1 ) In the tables of this Annex, the ECB is classified as an MFI resident in the country where the ECB is physically located.
( 2 ) Subsidiaries are separate incorporated entities in which another entity has a majority or full participation, whereas branches are
unincorporated entities (without independent legal status) totally owned by the parent.

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Table
Instrument categories
ASSET CATEGORIES
Category Description
of
main
features
1. Cash
Holdings of euro and foreign banknotes and coins in circulation that are commonly
used to make payments
2. Loans of up to and
Holdings of financial assets created when creditors lend funds to debtors, which are not
including one year/over
evidenced by documents or are evidenced by non-negotiable documents. This item also
one year and up to and
includes assets in the form of deposits placed by reporting agents. NCBs may also
including five years/over
require the full sector breakdown for this item.
five years’ original
maturity
1. This item includes:
(a) loans granted to households and non-profit institutions serving households,
broken down by:
(i) credit for consumption (loans granted for the purpose of mainly personal use
in the consumption of goods and services). Credit for consumption granted
to sole proprietorships/partnerships without legal status is included in this
category, if the reporting MFI knows that the loan is predominantly used for
personal consumption purposes;
(ii) lending for house purchase (credit extended for the purpose of investing in
houses for own use or rental, including building and refurbishments). It
comprises loans secured on residential property that are used for the
purpose of house purchase and other loans for house purchase made on a
personal basis or secured against other forms of assets. Housing loans
granted to sole proprietorships/partnerships without legal status are
included in this category unless the reporting MFI knows that the house is
predominantly used for business related purposes, in which case it is reported
as ‘other lending of which sole proprietorships/partnerships without legal
status’;
(iii) other (loans granted for purposes other than consumption and house
purchase, such as business, debt consolidation, education, etc.). This
category may include loans for consumption purposes to sole proprietor
ships/partnerships without legal status (see Part 3 of Annex II) if these are not
reported under the category ‘credit for consumption’. Unless the conditions
for reduced reporting apply, an ‘of which’ position is to be reported,
separately identifying within this category the loans granted to sole propri
etorships (see Part 3 of Annex II);
(b) credit card debt
For the purpose of this Regulation, this category comprises credit granted to
households or non-financial corporations either via delayed debit cards, i.e.
cards providing convenience credit as defined below, or via credit cards, i.e.
cards providing convenience credit and extended credit. Credit card debt is
recorded on dedicated card accounts and therefore not evident on current or
overdraft accounts. Convenience credit is defined as the credit granted at an
interest rate of 0 % in the period between the payment transactions effectuated
with the card during one billing cycle and the date at which the debit balances
from this specific billing cycle become due. Extended credit is defined as the
credit granted after the due dates of the previous billing cycles have passed, i.e.
debit amounts on the card account that have not been settled when this was first
possible, for which an interest rate or tiered interest rates usually greater than 0 %
are charged. Often minimum instalments per month have to be made, to at least
partially repay extended credit.

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Category Description
of
main
features
The counterpart to these forms of credit is the entity liable to eventually repay
the amounts outstanding in accordance with the contractual agreement, which
coincides with the cardholder in the case of privately used cards, but not in the
case of company cards;
(c) Revolving loans and overdrafts
Revolving loans are loans that have all the following features: (i) the borrower
may use or withdraw funds to a pre-approved credit limit without giving prior
notice to the lender; (ii) the amount of available credit can increase and decrease
as funds are borrowed and repaid; (iii) the credit may be used repeatedly;
(iv) there is no obligation of regular repayment of funds.
Revolving loans include the amounts obtained through a line of credit and not
yet repaid (outstanding amounts). A line of credit is an agreement between a
lender and borrower that allows a borrower to take advances, during a defined
period and up to a certain limit, and repay the advances at his discretion before a
defined date. Amounts available through a line of credit that have not been
withdrawn or have already been repaid are not to be considered under any
balance sheet items category. Overdrafts are debit balances on current accounts.
Both revolving loans and overdrafts exclude loans provided through credit cards.
The total amount owed by the borrower is to be reported, irrespective of whether
it is within or beyond any limit agreed beforehand between the lender and the
borrower with regard to size and/or maximum period of the loan;
(d) Syndicated loans (single loan agreements, in which several institutions participate
as lenders).
Syndicated loans only cover cases where the borrower knows, from the loan
contract, that the loan is made by several lenders. For statistical purposes, only
amounts actually disbursed by lenders (rather than total credit lines) are regarded
as syndicated loans. The syndicated loan is usually arranged and coordinated by
one institution (often called the ‘lead manager’) and is actually made by various
participants in the syndicate. Participants, including the lead manager, all report
their share of the loan vis-à-vis the borrower, i.e. not vis-à-vis the lead manager,
in their balance sheet assets;
(e) deposits, as defined under liability category 9;
(f) financial leases granted to third parties
Financial leases are contracts whereby the legal owner of a durable good (here
inafter the ‘lessor’) lends these assets to a third party (hereinafter the ‘lessee’) for
most if not all of the economic lifetime of the assets, in exchange for instalments
covering the cost of the good plus an imputed interest charge. The lessee is in fact
assumed to receive all of the benefits to be derivable from the use of the good and
to incur the costs and risks associated with ownership. For statistical purposes,
financial leases are treated as loans from the lessor to the lessee enabling the
lessee to purchase the durable good. The assets (durable goods) which have been
lent to the lessee are not recorded anywhere on the balance sheet;
(g) bad loans that have not yet been repaid or written off
The total amount of loans in respect of which repayment is overdue or otherwise
identified as being impaired, partially or totally, in accordance with the definition
of default in Article 178 of Regulation (EU) No 575/2013;
(h) holdings of non-negotiable securities
Holdings of debt securities which are not negotiable and cannot be traded on
secondary markets;

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Category Description
of
main
features
(i) traded loans
Loans that have de facto become negotiable are to be classified under the asset
item ‘loans’ provided that there is no evidence of secondary market trading.
Otherwise they should be classified as debt securities (category 3);
(j) subordinated debt in the form of deposits or loans
Subordinated debt instruments provide a subsidiary claim on the issuing insti
tution that can only be exercised after all claims with a higher status, e.g. deposits/
loans, have been satisfied, giving them some of the characteristics of equity. For
statistical purposes, subordinated debt is to be classified as either ‘loans’ or ‘debt
securities’ according to the nature of the financial instrument. Where MFI holdings
of all forms of subordinated debt are currently identified as a single figure for
statistical purposes, this figure is to be classified under the assets item ‘debt
securities’, on the grounds that subordinated debt is predominately constituted
in the form of securities, rather than as loans;
(k) claims under reverse repos or securities borrowing against cash collateral
Counterpart of cash paid out in exchange for securities purchased by reporting
agents at a given price under a firm commitment to resell the same or similar
securities at a fixed price on a specified future date, or securities borrowing
against cash collateral (see liability category 9.4).
For the purpose of this reporting scheme, the breakdown of loans according to real
estate collateral includes the total amount of outstanding loans which are collat
eralised in accordance with Article 199 paragraphs 2 to 4 of Regulation (EU)
No 575/2013, with an outstanding loan/collateral ratio of 1 or below 1. If these
rules are not applied by the reporting agent, the determination of the loans to be
included in this breakdown is based on the approach chosen to comply with capital
requirements.
2. The following item is not treated as a loan:
Loans granted on a trust basis
Loans granted on a trust basis, i.e. trust loans or fiduciary loans, are loans made in
the name of one party (hereinafter the ‘trustee’) on behalf of a third party (hereinafter
the ‘beneficiary’). For statistical purposes, trust loans are not to be recorded on the
balance sheet of the trustee where the risks and rewards of ownership of the funds
remain with the beneficiary. The risks and rewards of ownership remain with the
beneficiary where: (a) the beneficiary assumes the credit risk of the loan, i.e. the
trustee is responsible only for the administrative management of the loan; or (b)
the beneficiary’s investment is guaranteed against loss, should the trustee go into
liquidation, i.e. the trust loan is not part of the assets of the trustee that can be
distributed in the event of bankruptcy
3. Debt securities Holdings
of
debt
securities,
which
are
negotiable
financial
instruments
serving
as
evidence of debt, are usually traded on secondary markets or can be offset on the
market, and which do not grant the holder any ownership rights over the issuing
institution.
This item includes:
(a) holdings of securities which give the holder the unconditional right to a fixed or
contractually determined income in the form of coupon payments and/or a stated
fixed sum at a specific date or dates, or starting from a date defined at the time of
issue;

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Category Description
of
main
features
(b) loans that have become negotiable on an organised market, i.e. traded loans,
provided that there is evidence of secondary market trading, including the
existence of market makers, and frequent quotation of the financial asset, such as
provided by bid-offer spreads. Where this is not the case they should be classified
under the asset item ‘loans’ (see also ‘traded loans’ in category 2i);
(c) subordinated debt in the form of debt securities (see also ‘subordinated debt in the
form of deposits or loans’ in category 2j)
Securities lent out under securities lending operations or sold under a repurchase
agreement remain on the original owner’s balance sheet (and are not to be recorded
on the balance sheet of the temporary acquirer) where there is a firm commitment to
reverse the operation, and not simply an option to do so. Where the temporary acquirer
sells the securities received, this sale must be recorded as an outright transaction in
securities and entered in the balance sheet of the temporary acquirer as a negative
position in the securities portfolio
3a/3b/3c Debt securities of
These items include:
up to and including
one year/of over
one year and up to (a) Holdings of negotiable debt securities of original maturity of up to and including one
and including two
year/of over one year and up to and including two years/of over two years’ original
years/of over two
maturity;
years’ original
maturity
(b) loans that have become negotiable on an organised market, i.e. traded loans that are
classified as debt securities, of original maturity of up to and including one year/of
over one year and up to and including two years/of over two years’ original
maturity;
(c) Subordinated debt in the form of debt securities of original maturity of up to and
including one year/of over one year and up to and including two years/of over two
years’ original maturity
4. Equity Equity
represents
property
rights
on
corporations
or
quasi-corporations;
it
is
a
claim
on
residual value after the claims of all creditors have been met.
This item includes listed and unlisted shares and other equity
5. Investment fund
Shares or units issued by investment funds, which are collective investment undertakings
shares/units
that invest in financial and/or non-financial assets, to the extent that the objective is
investing capital raised from the public
This item includes MMF shares/units issued by MMFs pursuant to Article 2 of this
Regulation and shares/units issued by non-MMF investment funds (as defined in
Article 1(1) of Regulation (EU) No 1073/2013 (ECB/2013/38)
6. Non-financial assets
Tangible or intangible assets other than financial assets. This item includes dwellings,
(including fixed assets)
other buildings and structures, machinery and equipment, valuables, and intellectual
property products such as computer software and databases
7. Remaining assets
The item ‘remaining assets’ is the residual item on the asset side of the balance sheet,
defined as ‘assets not included elsewhere’. NCBs may require the reporting of specific
sub-positions included in this item. Remaining assets may include:

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Category Description
of
main
features
(a) financial derivative positions with gross positive market values
For statistical purposes, financial derivative instruments that are subject to on-
balance-sheet recording are included here and should be reported as a separate ‘of
which’ item with a sectoral (MFI/non-MFI) and a geographical (domestic/euro area
other than domestic/rest of the world) breakdown;
(b) gross amounts receivable in respect of suspense items
Suspense items are asset balances held in the MFI balance sheet which are not
booked in the name of customers but which nevertheless relate to customers’
funds, e.g. funds that are awaiting investment, transfer or settlement;
(c) gross amounts receivable in respect of transit items
Transit items represent funds, usually belonging to customers, which are in the
course of being transmitted between MFIs. Items include cheques and other forms
of payment that have been sent for collection to other MFIs;
(d) accrued interest receivable on loans
In accordance with the general principle of accruals accounting, interest receivable
on loans should be subject to on-balance-sheet recording as it accrues, i.e. on an
accruals basis, rather than when it is actually received, i.e. on a cash basis. Accrued
interest on loans is classified on a gross basis under the category ‘remaining assets’.
Accrued interest is excluded from the loan to which it relates, and should be
reported as a separate ‘of which’ item;
(e) accrued interest on holdings of debt securities;
(f) dividends to be received;
(g) amounts receivable not related to the main MFI business;
(h) asset counterpart to coins issued by the State (NCBs’ balance sheets only);
Remaining assets’ exclude financial instruments that take the form of financial assets
(included within the other balance sheet items), certain financial instruments that do not
take the form of financial assets, such as guarantees, commitments, administered and
trust loans (recorded off-balance sheet), and non-financial assets (included within
category 6)
LIABILITY CATEGORIES
Category Description
of
main
features
8. Currency in circulation The
liability
category
‘currency
in
circulation’
is
banknotes
and
coins
in
circulation
that
are issued or authorised by monetary authorities. This category includes banknotes
issued by the ECB and the NCBs. Coins in circulation are not a liability of MFIs in
the euro area Member States, but a liability of the central government. Nonetheless,
coins are part of the monetary aggregates and are therefore entered under the category
‘currency in circulation’. The counterpart to this liability is to be included within
‘remaining assets’

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Category Description
of
main
features
9. Deposits Amounts
(shares,
deposits
or
other),
which
are
owed
to
creditors
by
reporting
agents
and which comply with the features described in Section 1 of Part 1 of Annex I, except
those arising from the issue of negotiable securities or MMF shares/units. For the
purposes of the reporting scheme, this category is broken down into overnight
deposits, deposits with agreed maturity, deposits redeemable at notice and repurchase
agreements
(a) deposits and loans
‘Deposits’ also cover ‘loans’ as liabilities of MFIs. In conceptual terms, loans represent
amounts received by MFIs that are not structured in the form of ‘deposits’. The ESA
2010 distinguishes between ‘loans’ and ‘deposits’ on the basis of the party that
takesthe initiative, i.e. if this is the borrower, then it constitutes a loan, but if this
is the lender, then it constitutes a deposit. Within the reporting scheme, ‘loans’ are
not recognised as a separate category on the liabilities side of the balance sheet.
Instead, balances that are considered as ‘loans’ are to be classified indistinguishably
under the item ‘deposit liabilities’, unless they are represented by negotiable instru
ments. This is in line with the definition of ‘deposit liabilities’ above. Loans to MFIs
that are classified as ‘deposit liabilities’ are to be broken down in accordance with the
requirements of the reporting scheme, i.e. by sector, instrument, currency and
maturity. Syndicated loans received by reporting agents fall under this category.
(b) non-negotiable debt instruments
Non-negotiable debt instruments issued by reporting agents are generally to be
classified as ‘deposit liabilities’. Non-negotiable instruments issued by reporting
agents that subsequently become negotiable and that can be traded on secondary
markets should be reclassified as ‘debt securities’.
(c) margin deposits
Margin deposits (margins) made under derivative contracts should be classified as
‘deposit liabilities’ where they represent cash collateral deposited with MFIs and
where they remain in the ownership of the depositor and are repayable to the
depositor when the contract is closed out. In principle, margins received by the
reporting agent should only be classified as ‘deposit liabilities’ to the extent that the
MFI is provided with funds that are freely available for on-lending; where a part of
the margin received by the MFI has to be passed to another derivatives market
participant, e.g. the clearing house, only that part which remains at the disposal
of the MFI should in principle be classified as ‘deposit liabilities’. The complexities of
current market practice may make it difficult to identify those margins that are truly
repayable, because different types of margin are placed indistinguishably within the
same account, or those margins that provide the MFI with resources for on lending.
In these cases, it is acceptable to classify these margins under ‘remaining liabilities’ or
as ‘deposit liabilities’.
(d) earmarked balances
According to national practice ‘earmarked balances’ related to e.g. leasing contracts
are classified as deposit liabilities under ‘deposits with agreed maturity’ or ‘deposits
redeemable at notice’ depending on the maturity/provisions of the underlying
contract.
(e) shares issued by MFIs
Shares issued by MFIs are classified as deposits instead of as capital and reserves if: (i)
there is a debtor-creditor economic relationship between the issuing MFI and the
holder, regardless of any property rights in these shares; and (ii) the shares can be
converted into currency or redeemed without significant restrictions or penalties. A
notice period is not considered to be a significant restriction. In addition, such shares
must comply with the following conditions:
— the relevant national regulatory provisions provide no unconditional right to the
issuing MFI to refuse redemption of its shares;

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Category Description
of
main
features
— the shares are ‘value certain’, i.e. under normal circumstances they will be paid
out at their nominal value in the event of redemption;
— in the event of the MFI’s insolvency, the holders of its shares are legally subject
neither to the obligation to cover outstanding liabilities in addition to the
nominal value of the shares, i.e. the shareholders’ participation in the subscribed
capital, nor to any other onerous supplementary obligations. The subordination
of shares to any other instrument issued by the MFI does not qualify as an
onerous supplementary obligation.
The notice periods for the conversion of such shares into currency are used in order
to classify these shares according to the breakdown by notice period within the
instrument category ‘deposits’. These notice periods also apply when determining the
reserve ratio under Article 4 of Regulation (EC) No 1745/2003 (ECB/2003/9). Any
earmarked shares relating to loans made by the MFI should be classified as deposit
liabilities, with the same original maturity breakdown as the underlying loan, i.e. as
‘deposits with agreed maturity’ or ‘deposits redeemable at notice’, depending on the
maturity provisions of the underlying loan contract.
When held by MFIs, such shares issued by MFIs and classified as deposits instead of
capital and reserves are classified by the holding MFI as loans on the asset side of its
balance sheet.
(f) securitisation liabilities
Counterpart of loans and/or other assets disposed of in a securitisation but still
recognised on the statistical balance sheet
The following item is not treated as a deposit:
Funds (deposits) received on a trust basis are not recorded on the MFI statistical balance
sheet (see ‘Loans granted on a trust basis’ under category 2)
9.1. Overnight deposits
Deposits which are convertible into currency and/or which are transferable on demand
by cheque, banker’s order, debit entry or similar means, without significant delay,
restriction or penalty. This item includes:
(a) balances (interest-bearing or not) which are immediately convertible into currency on
demand or by close of business on the day following that on which the demand was
made, without any significant penalty or restriction, but which are not transferable;
(b) balances (interest-bearing or not) representing prepaid amounts in the context of
‘hardware-based’ or ‘software-based’ e-money, e.g. prepaid cards;
(c) loans to be repaid by close of business on the day following that on which the loan
was granted.
9.1a. Transferable deposits
Transferable deposits are those deposits within the category ‘overnight deposits’ which
are directly transferable on demand to make payments to other economic agents by
commonly used means of payment, such as credit transfer and direct debit, possibly also
by credit or debit card, e-money transactions, cheques, or similar means, without
significant delay, restriction or penalty. Deposits that can only be used for cash with
drawal and/or deposits from which funds can only be withdrawn or transferred through
another account of the same owner are not to be included as transferable deposits.

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Category Description
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main
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9.2. Deposits with agreed
Non-transferable deposits which cannot be converted into currency before an agreed
maturity
fixed term or that can only be converted into currency before that agreed term provided
that the holder is charged some kind of penalty. This item also includes administratively
regulated savings deposits where the maturity related criterion is not relevant; these
should be classified in the maturity band ‘over two years’. Financial products with
roll-over provisions must be classified according to the earliest maturity. Although
deposits with agreed maturity may feature the possibility of earlier redemption after
prior notification, or may be redeemable on demand subject to certain penalties, these
features are not considered to be relevant for classification purposes
9.2a/9.2b/9.2c Deposits of up These items include for each maturity breakdown:
to and
including one
year/of over
(a) Balances placed with a fixed term to maturity of up to and including one year/of
one year and
over one year and up to and including two years/of over two years that are non-
up to and
transferable and cannot be converted into currency before that maturity;
including two
years/of over
two years’
(b) Balances placed with a fixed term to maturity of up to and including one year/of
agreed
over one year and up to and including two years/of over two years that are non-
maturity
transferable but can be redeemed before that term after prior notification; where
notification has been given, these balances are classified in 9.3a or 9.3b where
appropriate;
(c) Balances placed with a fixed term to maturity of up to and including one year/of
over one year and up to and including two years/of over two years that are non-
transferable but can be redeemed on demand subject to certain penalties;
(d) Margin payments made under derivative contracts to be closed out within one
year/between one and two years/over two years, representing cash collateral
placed to protect against credit risk but remaining in the ownership of the
depositor and being repayable to the depositor when the contract is closed out;
(e) Loans, which are either evidenced by non-negotiable documents or not evidenced by
documents, of up to and including one year/of over one year and up to and
including two years/of over two years’ original maturity;
(f) Non-negotiable debt securities issued by MFIs of original maturity of up to and
including one year/of over one year and up to and including two years/of over
two years;
(g) Subordinated debt issued by MFIs in the form of deposits or loans of original
maturity of up to and including one year/over one year and up to and including
two years/over two years;
(h) Securitisation liabilities.
Counterpart of loans and/or other assets disposed of in a securitisation but still
recognised on the statistical balance sheet. By convention these liabilities are
assigned to the maturity breakdown ‘over two years’ agreed maturity’.
In addition, deposits of over two years’ agreed maturity include:
Balances (regardless of maturity) in which the interest rates and/or terms and conditions
are specified in national legislation and which are designed to be held for specific
purposes, e.g. house financing, occurring after two years, even if technically they are
redeemable on demand

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Category Description
of
main
features
9.3. Deposits redeemable at
Non-transferable deposits without any agreed maturity which cannot be converted into
notice
currency without a period of prior notice; before the expiry the conversion into currency
is not possible or possible only with a penalty. They include deposits which, although
perhaps legally withdrawable on demand, would be subject to penalties and restrictions
according to national practice (classified in the maturity band ‘up to and including three
months’), and investment accounts without period of notice or agreed maturity, but
which contain restrictive drawing provisions (classified in the maturity band ‘over three
months’)
9.3a/9.3b Deposits
These items include:
redeemable at up
to and including
three months/of
(a) Balances placed without a fixed maturity that can be withdrawn only subject to a
over three months’
prior notice of up to and including three months/of over three months, of which
notice of which
over two years; if redemption prior to that notice period (or even on demand) is
over two years’
possible, it involves the payment of a penalty; and
notice
(b) Balances placed with a fixed term to maturity that are non-transferable but that have
been subject to a notification of less than three months/of over three months, of
which over two years, for an earlier redemption
In addition, deposits redeemable at up to and including three months’ notice include
non-transferable sight savings deposits and other types of retail deposits which, although
legally redeemable on demand, are subject to significant penalties
Deposits redeemable at over three months’ notice of which over two years’ notice (where
applicable) include investment accounts without a period of notice or agreed maturity,
but which contain restrictive drawing provisions
9.4. Repos
Counterpart of cash received in exchange for securities sold by reporting agents at a
given price under a firm commitment to repurchase the same or similar securities at a
fixed price on a specified future date. Amounts received by reporting agents in exchange
for securities transferred to a third party, i.e. the temporary acquirer, are to be classified
under ‘repurchase agreements’ where there is a firm commitment to reverse the
operation and not merely an option to do so. This implies that reporting agents
retain all risks and rewards of the underlying securities during the operation.
The following variants of repo-type operations are all classified under ‘repurchase agree
ments’:
(a) amounts received in exchange for securities temporarily transferred to a third party
in the form of securities lending against cash collateral; and
(b) amounts received in exchange for securities temporarily transferred to a third party
in the form of a sale/buy-back agreement.
The securities underlying repo type operations are recorded following the rules in asset
item 3 ‘debt securities’. Operations involving the temporary transfer of gold against cash
collateral are also included under this item
10. MMF shares/units
Shares or units issued by MMFs. See definition in Section 2 of Part 1 of Annex I.
11. Debt securities issued Securities
other
than
equity
issued
by
reporting
agents,
which
are
instruments
usually
negotiable and traded on secondary markets or which can be offset on the market and
which do not grant the holder any ownership rights over the issuing institution. This
item includes:
(a) Securities that give the holder the unconditional right to a fixed or contractually
determined income in the form of coupon payments and/or a stated fixed sum at a
specific date (or dates) or starting from a date defined at the time of issue;

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Category Description
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(b) Non-negotiable instruments issued by reporting agents that subsequently become
negotiable should be reclassified as ‘debt securities’ (see also category 9);
(c) Subordinated debt issued by MFIs is to be treated in the same way as other debt
incurred by MFIs for the purposes of monetary and financial statistics. Hence,
subordinated debt issued in the form of securities is to be classified as ‘debt securities
issued’, whereas subordinated debt issued by MFIs in the form of deposits or loans is
to be classified as ‘deposit liabilities’. Where all subordinated debt issued by MFIs is
identified as a single amount for statistical purposes, this figure is to be classified
under the item ‘debt securities issued’, on the grounds that subordinated debt is
predominately constituted in the form of securities rather than as loans.
Subordinated debt should not be classified under the liability item ‘capital and
reserves’
(d) Hybrid instruments. Negotiable instruments with a combination of debt and
derivative components, including:
(i) negotiable debt instruments containing embedded derivatives;
(ii) negotiable instruments whose redemption value and/or coupon is linked to the
development of an underlying reference asset, asset price or other reference
indicator over the maturity of the instrument
11a/11b/11c Debt securities These items include for each maturity breakdown:
of up to and
including one
year/of over one (a) Negotiable debt securities issued by MFIs of original maturity of up to and including
year and up to
one year/of over one year and up to and including two years/of over two years’
and including
original maturity; and
two year/of
over two years’
original
(b) Subordinated debt issued by MFIs in the form of debt securities of original maturity
maturity
of up to and including one year/of over one year and up to and including two
year/of over two years’ original maturity
11d Of which debt securities Hybrid instruments issued by MFIs of original maturity of up to two years and which at
up to two years and
maturity may have a contractual redemption value in the issuing currency lower than
nominal capital
the amount originally invested due to their combination of debt and derivative
guarantee below 100 %
components.
12. Capital and reserves
For the purposes of the reporting scheme, this category comprises the amounts arising
from the issue of equity capital by reporting agents to shareholders or other proprietors,
representing for the holder property rights in the MFI and generally an entitlement to a
share in its profits and to a share in its own funds in the event of liquidation. Profit (or
loss) as recorded in the statement of profit and loss, funds arising from income not
distributed to the shareholders or funds set aside by reporting agents in anticipation of
likely future payments and obligations are also included. In detail, the category would in
principle include:
(a) equity capital raised, including the share premium;
(b) profit (or loss) as recorded in the statement of profit and loss;
(c) income and expenses recognised directly in equity;
(d) funds arising from income not distributed to the shareholders;
(e) specific and general provisions against loans, securities and other types of assets, e.g.
allowances for impairments and loan-losses (may be recorded according to the
accounting rules)

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Category Description
of
main
features
13. Remaining liabilities
The item ‘remaining liabilities’ is the residual item on the liabilities side of the balance
sheet, defined as ‘liabilities not included elsewhere’. NCBs may require the reporting of
specific sub-positions included in this item. Remaining liabilities may include:
(a) financial derivative positions with gross negative market values
For statistical purposes, financial derivative instruments that are subject to on-
balance-sheet recording are to be included here and should be reported as a
separate ‘of which’ item with a sectoral (MFI/non-MFI) and a geographical
(domestic/euro area other than domestic/rest of the world) breakdown;
(b) gross amounts payable in respect of suspense items
Suspense items are balances held in the MFI balance sheet which are not booked in
the name of customers but which nevertheless relate to customers’ funds, e.g. funds
that are awaiting investment, transfer or settlement;
(c) gross amounts payable in respect of transit items
Transit items represent funds, usually belonging to customers, which are in the
process of being transmitted between MFIs. Items include credit transfers that have
been debited from customers’ accounts and other items for which the corresponding
payment has not yet been made by the reporting agent;
(d) accrued interest payable on deposits
In accordance with the general principle of accruals accounting, interest payable on
deposits is subject to on-balance-sheet recording as it accrues, i.e. on an accruals
basis, rather than when it is actually paid, i.e. on a cash basis. Accrued interest on
deposits is classified on a gross basis under the category ‘remaining liabilities’.
Accrued interest is excluded from the deposit to which it relates and should be
reported as a separate ‘of which’ item;
(e) accrued interest on debt securities issued
(f) dividends to be paid;
amounts payable not related to the main MFI business, e.g. amounts due to suppliers,
tax, wages, social contributions;
(g) provisions representing liabilities against third parties, e.g. pensions and dividends;
(h) margin payments made under derivative contracts
Margin payments (margins) made under derivatives contracts are normally classified
as ‘deposit liabilities’ (see category 9). The complexities of current market practice
may make it difficult to identify those margins that are truly repayable, because
different types of margin are placed indistinguishably within the same account, or
those margins that provide the MFI with resources for on-lending. In these cases, it is
acceptable to classify these margins under ‘remaining liabilities’ or as ‘deposit liabil
ities’, according to national practice;
(i) net amounts payable in respect of future settlements of transactions in securities or
foreign exchange operations
‘Remaining liabilities’ may exclude almost all financial instruments that take the form of
financial liabilities (included within the other balance sheet items), financial instruments
that do not take the form of financial liabilities such as guarantees, commitments,
administered and trust loans (recorded off-balance sheet), and non-financial liabilities
such as capital items on the liabilities side (included within ‘capital and reserves’).

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PART 3
Definitions of sectors
The ESA 2010 provides the standard for the sector classification. This table provides a detailed standard description of
sectors which NCBs transpose into national categories in accordance with this Regulation. Counterparties located in the
euro area are identified according to their sector in accordance with the lists maintained by the European Central Bank
(ECB) for statistical purposes, and the guidance for the statistical classification of counterparties provided in the ECB’s
‘Monetary financial institutions and markets statistics sector manual: Guidance for the statistical classification of
customers’. Credit institutions located outside the euro area are referred to as ‘banks’ rather than as MFIs. Similarly,
the term ‘non-MFI’ refers only to the Member States. For Member States whose currency is not the euro the term
‘non-banks’ is used.
Table
Definitions of sectors
Sector Definition
MFIs See
Article
1
General government The
general
government
sector
(S.13)
consists
of
institutional
units,
which
are
non-market producers whose output is intended for individual and collective
consumption, and are financed by compulsory payments made by units
belonging to other sectors, and institutional units principally engaged in the
redistribution of national income and wealth (ESA 2010, paragraphs 2.111
to 2.113)
Central government This
subsector
(S.1311)
includes
all
administrative
departments
of
the
state
and other central agencies whose competence extends normally over the
whole economic territory, except for the administration of social security
funds (ESA 2010, paragraph 2.114)
State government
This subsector (S.1312) consists of those types of public administration which
are separate institutional units exercising some of the functions of
government, except for the administration of social security funds, at a level
below that of central government and above that of the governmental insti
tutional units existing at local level (ESA 2010, paragraph 2.115)
Local government This
subsector
(S.1313)
includes
those
types
of
public
administration
whose
competence extends to only a local part of the economic territory, apart from
local agencies of social security funds (ESA 2010, paragraph 2.116)
Social security funds The
social
security
funds
subsector
(S.1314)
includes
central,
state
and
local
institutional units whose principal activity is to provide social benefits and
which fulfil each of the following two criteria: (a) by law or by regulation
certain groups of the population are obliged to participate in the scheme or to
pay contributions; and (b) general government is responsible for the
management of the institution in respect of the settlement or approval of the
contributions and benefits independently from its role as supervisory body or
employer (ESA 2010, paragraph 2.117)
Non-MMF investment funds
IFs as defined in Regulation (EU) No 1073/2013 (ECB/2013/38). The
subsector consists of all collective investment undertakings, except MMFs, that
invest in financial and/or non-financial assets, to the extent that the objective
is investing capital raised from the public

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Sector Definition
Other financial intermediaries, except
The other financial intermediaries, except insurance corporations and pension
insurance corporations and pension
funds subsector (S.125) consists of all financial corporations and quasi-
funds + financial auxiliaries + captive
corporations which are principally engaged in financial intermediation by
financial institutions and money lenders incurring liabilities in forms other than currency, deposits (or close substitutes
for deposits), investment fund shares/units, or in relation to insurance, pension
and standardised guarantee schemes from institutional units (ESA 2010,
paragraphs 2.86 to 2.94)
The financial auxiliaries subsector (S.126) consists of all financial corporations
and quasi-corporations which are principally engaged in activities closely
related to financial intermediation but which are not financial intermediaries
themselves. This subsector also includes head offices whose subsidiaries are all
or mostly financial corporations (ESA 2010, paragraphs 2.95 to 2.97)
The captive financial institutions and money lenders subsector (S.127) consists
of all financial corporations and quasi-corporations which are neither engaged
in financial intermediation nor in providing financial auxiliary services, and
where most of either their assets or their liabilities are not transacted on open
markets. This subsector includes holding companies that hold controlling-
levels of equity of a group of subsidiary corporations and whose principal
activity is owning the group without providing any other service to the
businesses in which the equity is held, that is, they do not administer or
manage other units (ESA 2010, paragraphs 2.98 to 2.99)
Insurance corporations
The insurance corporations subsector (S. 128) consists of all financial
corporations and quasi-corporations which are principally engaged in financial
intermediation as a consequence of the pooling of risks mainly in the form of
direct insurance or reinsurance (ESA 2010, paragraphs 2.100 to 2.104)
Pension funds
The pension funds subsector (S. 129) consists of all financial corporations and
quasi-corporations which are principally engaged in financial intermediation as
the consequence of the pooling of social risks and needs of the insured
persons (social insurance). Pension funds as social insurance schemes provide
income in retirement, and often benefits for death and disability (ESA 2010,
paragraphs 2.105 to 2.110)
Non-financial corporations The
non-financial
corporations
sector
(S.11)
consists
of
institutional
units
which are independent legal entities and market producers, and whose
principal activity is production of goods and non-financial services. This sector
also includes non-financial quasi-corporations (ESA 2010, paragraphs 2.45
to 2.54)
Households + non-profit institutions
The households sector (S.14) consists of individuals or groups of individuals as
serving households
consumers and as entrepreneurs producing market goods and non-financial
and financial services (market producers) provided that the production of
goods and services is not by separate entities treated as quasi-corporations. It
also includes individuals or groups of individuals as producers of goods and
non-financial services for exclusively own final use (ESA 2010, paragraphs
2.118 to 2.128)
The non-profit institutions serving households (NPISHs) sector (S.15) consists
of non-profit institutions which are separate legal entities, which serve
households and which are private non-market producers. Their principal
resources are voluntary contributions in cash or in kind from households in
their capacity as consumers, from payments made by general governments
and from property income (ESA 2010, paragraphs 2.129 to 2.130)
Sole proprietorships and partnerships
Sole proprietorships and partnerships without independent legal status, other
without legal status (sub-population of than those created as quasi-corporations, and which are market producers
‘Households’)
(ESA 2010, paragraph 2.119d)

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ANNEX III
APPLICATION OF MINIMUM RESERVE REQUIREMENTS AND RELATED SPECIAL RULES
PART 1
Minimum reserve requirements for credit institutions: general rules
1. Cells marked with an * in Table 1 in Annex I are used in the calculation of the reserve base. With respect to debt
securities, credit institutions either present proof of liabilities to be excluded from the reserve base or apply a
standardised deduction of a fixed percentage specified by the European Central Bank (ECB). Patterned cells are
reported solely by credit institutions subject to reserve requirements.
2. The
column
‘of
which
credit
institutions
subject
to
reserve
requirements,
ECB
and
national
central
banks’
(NCBs)
does not include the liabilities of reporting agents vis-à-vis institutions listed as exempt from the ECB’s minimum
reserve system, i.e. institutions which are exempt for reasons other than their being subject to reorganisation
measures. Institutions which are temporarily exempt from minimum reserve requirements on account of their
being subject to reorganisation measures are treated as institutions subject to minimum reserve requirements and,
therefore, liabilities vis-à-vis these institutions are covered under the column ‘of which credit institutions subject to
reserve requirements, ECB and NCBs’. Liabilities vis-à-vis institutions not actually required to maintain reserve
holdings with the European System of Central Banks owing to the application of the lump-sum allowance are
also covered under this column.
3. Full reporters may also report positions vis-à-vis ‘MFIs other than credit institutions subject to minimum reserves,
ECB and NCBs’, rather than vis-à-vis ‘MFIs’ and ‘credit institutions subject to minimum reserves, ECB and NCBs’,
provided that no loss of detail results and none of the positions in the non-patterned cells are affected. Furthermore,
depending on the national collection systems and without prejudice to full compliance with the definitions and
classification principles of the MFI balance sheet set out in this Regulation, credit institutions subject to reserve
requirements may alternatively report the data necessary to calculate the reserve base, except those on negotiable
instruments, in accordance with the table below, provided that none of the positions in the non-patterned cells of
Table 1 in Annex I are affected.
4. Tail
institutions
report,
as
a
minimum,
quarterly
data
necessary
to
calculate
the
reserve
base
in
accordance
with
the
table below.
5. For reporting in accordance with the table below, strict correspondence with Table 1 of Annex I must be ensured.

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PART 2
Special rules
SECTION 1
Statistical reporting on an aggregated basis as a group by credit institutions subject to the ECB’s minimum reserve
system
1.1 Subject to the fulfilment of the conditions set out in Article 11 of Regulation (EC) No 1745/2003 (ECB/2003/9), the
Executive Board may allow credit institutions subject to minimum reserve requirements to carry out aggregated
statistical reporting as a group within a single Member State. All institutions concerned are included separately in the
ECB’s list of MFIs.
1.2 If credit institutions have been permitted to hold minimum reserves through an intermediary, pursuant to Article 10
of Regulation (EC) No 1745/2003 (ECB/2003/9), and do not benefit from the group reporting referred to in this
section, the relevant NCB may authorise the intermediary to carry out aggregated statistical reporting (other than in
respect of the reserve base) on behalf of credit institutions. All institutions concerned are included separately in the
ECB’s list of MFIs.
1.3 If the group of credit institutions is comprised solely of tail institutions, it is only required to comply with the
simplified reporting for tail institutions. Otherwise, the reporting scheme for full reporters applies to the group as a
whole.
SECTION 2
Reserve requirements in the case of mergers involving credit institutions
2.1 For the purpose of this Annex, the terms ‘merger’, ‘merging institutions’, and ‘acquiring institution’ have the
meanings set out in Article 1 of Regulation (EC) No 1745/2003 (ECB/2003/9).
2.2 For the maintenance period within which a merger takes effect, the reserve requirements of the acquiring institution
are calculated and have to be fulfilled as set out in Article 13 of Regulation (EC) No 1745/2003 (ECB/2003/9).
2.3 For the consecutive maintenance periods, the reserve requirement of the acquiring institution is calculated on the
basis of a reserve base and of statistical information reported in accordance with the rules set out in the table below.
Otherwise, the normal rules for reporting statistical information and calculation of reserve requirements, as set out in
Article 3 of Regulation (EC) No 1745/2003 (ECB/2003/9), apply.
2.4 Without prejudice to the obligations set out in the previous paragraphs, the relevant NCB may authorise the
acquiring institution to fulfil its obligation to report statistical information through temporary procedures, for
instance separate forms for each of the merging institutions during several periods after the merger has taken
place. The length of this derogation from normal reporting procedures should be limited to the extent possible
and should not exceed six months after the merger has taken place. This derogation is without prejudice to the
obligation for the acquiring institution to fulfil its reporting obligations in accordance with this Regulation and, if
applicable, its obligation to assume the reporting obligations of merging institutions in accordance with this Annex.
Table
Special rules for the calculation of reserve requirements of credit institutions involved in a merger ( 1 )
Case
number
Type of merger Obligations
to
be
assumed
1 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
acquires one or more full reporters (merging institu merger, the reserve requirement of the acquiring insti
tions) takes effect after the deadline set by the tution is calculated on the basis of a reserve base
relevant NCB for the reporting of monthly statistical aggregating the reserve bases of the acquiring insti
information relating to the preceding month
tution and of the merging institutions. The reser
vebases to be aggregated are those which would
have been relevant for this maintenance period had
the merger not occurred. Only one lump-sum
allowance is granted

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L 297/46
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Official Journal of the European Union
7.11.2013
Case
number
Type of merger Obligations
to
be
assumed
2 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
acquires one or more tail institutions and possibly merger, the reserve requirement of the acquiring insti
one or more full reporters (merging institutions) tution is calculated on the basis of a reserve base
takes effect after the deadline set by the relevant aggregating the reserve bases of the acquiring insti
NCB for the reporting of statistical information tution and of the merging institutions. The reserve
relating to the preceding quarter
bases to be aggregated are those which would have
been relevant for this maintenance period had the
merger not occurred. Only one lump-sum allowance
is granted
3 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
acquires one or more full reporters (merging institu merger, the reserve requirement of the acquiring insti
tions) takes effect within the period between the end tution is calculated on the basis of a reserve base
of a month and the deadline set by the relevant NCB aggregating the reserve bases of the acquiring insti
for the reporting of monthly statistical information tution and of the merging institutions. The reserve
relating to the preceding month
bases to be aggregated are those which would have
been relevant for this maintenance period had the
merger not occurred. Only one lump-sum allowance
is granted. The acquiring institution assumes, in
addition to its own reporting obligations, the
reporting obligations of merging institutions for stat
istical information relating to the month preceding
the merger
4 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
acquires one or more tail institutions and possibly merger, the reserve requirement of the acquiring insti
one or more full reporters (merging institutions) tution is calculated on the basis of a reserve base
takes effect within the period between the end of aggregating the reserve bases of the acquiring insti
a quarter and the deadline set by the relevant NCB tution and of the merging institutions. The reserve
for the reporting of statistical information relating to bases to be aggregated are those which would have
the preceding quarter
been relevant for this maintenance period had the
merger not occurred. Only one lump-sum allowance
is granted. The acquiring institution assume, in
addition to its own reporting obligations, the
reporting obligations of merging institutions for stat
istical information relating to the month or the
quarter preceding the merger, depending on the insti
tution
5 A
merger
where
a
tail
institution
(acquiring
insti The same procedure as in Case 1 is applied
tution) acquires one or more full reporters and
possibly one or more tail institutions (merging insti
tutions) takes effect after the deadline set by the
relevant NCB for the reporting of statistical
information relating to the preceding month
6 A
merger
where
a
tail
institution
(acquiring
insti From the maintenance period consecutive to the
tution) acquires one or more tail institutions merger and until the acquiring institution has
(merging institutions) takes effect after the deadline reported quarterly data for the first time after the
set by the relevant NCB for the reporting of stat merger in accordance with the reduced statistical
istical information relating to the preceding quarter reporting requirements imposed upon tail institutions
as set out in Annex III, the reserve requirement of the
acquiring institution is calculated on the basis of a
reserve base aggregating the reserve bases of the
acquiring institution and of the merging institutions.
The reserve bases to be aggregated are those which
would have been relevant for this maintenance period
had the merger not occurred. Only one lump-sum
allowance is granted

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EN
7.11.2013 Official
Journal
of
the
European
Union L
297/47
Case
number
Type of merger Obligations
to
be
assumed
7 A
merger
where
a
tail
institution
(acquiring
insti The same procedure as in Case 2 is applied
tution) acquires one or more tail institutions
(merging institutions) takes effect after the deadline
set by the relevant NCB for the reporting of stat
istical information relating to the preceding quarter
and, as a result of the merger, the tail institution
becomes a full reporter
8 A
merger
where
a
tail
institution
(acquiring
insti From the maintenance period consecutive to the
tution) acquires one or more tail institutions merger and until the acquiring institution has
(merging institutions) takes effect within the period reported for the first time after the merger quarterly
between the end of a quarter and the deadline set by data in accordance with the reduced statistical
the relevant NCB for the reporting of statistical reporting requirements imposed upon tail institutions
information relating to the preceding quarter
as set out in Annex III, the reserve requirement of the
acquiring institution is calculated on the basis of a
reserve base aggregating the reserve bases of the
acquiring institution and of the merging institutions.
The reserve bases to be aggregated are those which
would have been relevant for this maintenance period
had the merger not occurred. Only one lump-sum
allowance is granted. The acquiring institution
assumes, in addition to its own reporting obligations,
the reporting obligations of merging institutions for
statistical information relating to the quarter
preceding the merger
9 A
merger
where
a
tail
institution
(acquiring
insti The same procedure as in Case 3 is applied
tution) acquires one or more full reporters and
possibly one or more tail institutions (merging insti
tutions) takes effect within the period between the
end of a month and the deadline set by the relevant
NCB for the reporting of monthly statistical
information relating to the preceding month
10 A
merger
where
a
tail
institution
(acquiring
insti The same procedure as in Case 4 is applied
tution) acquires one or more tail institutions
(merging institutions) takes effect within the period
between the end of a quarter and the deadline set by
the relevant NCB for the reporting of statistical
information relating to the preceding quarter and,
as a result of the merger, the tail institution
becomes a full reporter
11 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
is created from full reporters (merging institutions) merger, the reserve requirement of the acquiring insti
takes effect within the period between the end of a tution is calculated on the basis of a reserve base
month and the deadline set by the relevant NCB for aggregating the reserve bases of the merging institu
the reporting of monthly statistical information tions. The reserve bases to be aggregated are those
relating to the preceding month
which would have been relevant for this maintenance
period had the merger not occurred. Only one lump-
sum allowance is granted. The acquiring institution
assumes the reporting obligations of merging insti
tutions for statistical information relating to the
month preceding the merger

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L 297/48
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Official Journal of the European Union
7.11.2013
Case
number
Type of merger Obligations
to
be
assumed
12 A
merger
where
a
full
reporter
(acquiring
institution)
For the maintenance period consecutive to the
is created from one or more tail institutions and merger, the reserve requirement of the acquiring insti
possibly one or more full reporters (merging insti tution is calculated on the basis of a reserve base
tutions) takes effect within the period between the aggregating the reserve bases of the merging institu
end of a quarter and the deadline set by the relevant tions. The reserve bases to be aggregated are those
NCB for the reporting of statistical information which would have been relevant for this maintenance
relating to the preceding quarter
period had the merger not occurred. Only one lump-
sum allowance is granted. The acquiring institution
assumes the reporting obligations of merging insti
tutions for data relating to the month or the
quarter preceding the merger, depending on the insti
tution
13 A
merger
where
a
tail
institution
(acquiring
insti From the maintenance period consecutive to the
tution) is created from one or more tail institutions merger and until the acquiring institution has
(merging institutions) takes effect within the period reported quarterly data for the first time after the
between the end of a quarter and the deadline set by merger in accordance with the reduced statistical
the relevant NCB for the reporting of statistical reporting requirements imposed upon tail institutions
information relating to the preceding quarter
as set out in Annex III, the reserve requirement of the
acquiring institution is calculated on the basis of a
reserve base aggregating the reserve bases of the
merging institutions. The reserve bases to be
aggregated are those which would have been
relevant for this maintenance period had the merger
not occurred. Only one lump-sum allowance is
granted. The acquiring institution assumes the
reporting obligations of merging institutions for
data relating to the quarter preceding the merger
( 1 ) This table presents the details of more complex procedures applied to specific cases. For cases not presented in the table, the normal
rules for reporting of statistical information and calculation of reserve requirements, as set out in Article 3 of Regulation (EC)
No 1745/2003 (ECB/2003/9), apply.

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EN
7.11.2013 Official
Journal
of
the
European
Union L
297/49
ANNEX IV
MINIMUM STANDARDS TO BE APPLIED BY THE ACTUAL REPORTING POPULATION
Reporting agents must fulfil the following minimum standards to meet the European Central Bank’s (ECB’s) statistical
reporting requirements.
1. Minimum standards for transmission:
(a) reporting must be timely and within the deadlines set by the relevant NCB;
(b) statistical reports must take their form and format from the technical reporting requirements set by the relevant
NCB;
(c) the reporting agent must provide the details of one or more contact persons to the relevant NCB;
(d) the technical specifications for data transmission to the relevant NCB must be followed.
2. Minimum standards for accuracy:
(a) statistical information must be correct: all linear constraints must be fulfilled (e.g. assets and liabilities must
balance, subtotals must add up to totals), and data must be consistent across all frequencies;
(b) reporting agents must be able to provide information on the developments implied by the transmitted data;
(c) statistical information must be complete and must not contain continuous and structural gaps; existing gaps must
be acknowledged, explained to the relevant NCB and, where applicable, bridged as soon as possible;
(d) reporting agents must follow the dimensions, rounding policy and decimals set by the relevant NCB for the
technical transmission of the data.
3. Minimum standards for compliance with concepts:
(a) statistical information must comply with the definitions and classifications contained in this Regulation;
(b) in the event of deviations from these definitions and classifications reporting agents must monitor and quantify the
difference between the measure used and the measure contained in this Regulation on a regular basis;
(c) reporting agents must be able to explain breaks in the transmitted data compared with the previous periods’
figures.
4. Minimum standards for revisions:
The revisions policy and procedures set by the ECB and the relevant NCB must be followed. Revisions deviating from
regular revisions must be accompanied by explanatory notes.

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L 297/50
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Official Journal of the European Union
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ANNEX V
REPEALED REGULATION WITH ITS SUCCESSIVE AMENDMENTS
Regulation (EC) No 25/2009 (ECB/2008/32)
(OJ L 15, 20.1.2009, p. 14).
Regulation (EU) No 883/2011
(OJ L 228, 3.9.2011, p. 13).
ANNEX VI
CORRELATION TABLE
Regulation (EC) No 25/2009 (ECB/2008/32) This
Regulation
Article 1a Article
2
Article 2 Article
3
Article 3 Article
4
Article 4 Article
5
Article 5 Article
6
Article 6 Article
7
Article 7 Article
8
Article 8 Article
9
Article 9 Article
10
Article 10 Article
11
Article 11 Article
12
Article 12 Article
13
Article 13 Article
14
Article 14 Article
15
Article 15 Article
16
Annex I, Part 2, Section 5.2a Annex
I,
Part
2,
Section
5.3
Annex I, Part 2, Section 5.2b Annex
I,
Part
2,
Section
5.4
Annex I, Part 2, Section 5.3 Annex
I,
Part
2,
Section
5.5
Annex I, Part 2, Section 5.4 Annex
I,
Part
2,
Section
5.6
Annex I, Part 2, Section 5.5 Annex
I,
Part
2,
Section
5.7
— Annex
I,
Part
3,
Section
4
Annex I, Part 3, Section 4 Annex
I,
Part
3,
Section
5
Annex I, Part 3, Section 5 Annex
I,
Part
3,
Section
6
Annex I, Part 3, Section 6 Annex
I,
Part
3,
Section
7
Annex I, Part 4
—
Annex I, Part 5 Annex
I,
Part
4
Annex I, Part 6 Annex
I,
Part
5
Annex I, Part 7 Annex
I,
Part
6
Annex I, Part 8 Annex
I,
Part
7

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Document Outline

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