PURPOSE: to
amend Regulation (EC) No 2533/98 concerning the collection of statistical
information by the European Central Bank, and in particular the scope of the
reporting requirements.
LEGISLATIVE
ACT: Council Regulation (EC) No 951/2009 amending Regulation (EC) No 2533/98
concerning the collection of statistical information by the European Central
Bank.
CONTENT: the Council adopted a regulation concerning the
collection of statistical information by the European Central Bank. The new
legislative act amends Regulation (EC) No 2533/98,
and in particular as regards the following issues:
- it
is necessary to amend Regulation (EC) No 2533/98 to enable the ECB to collect
the statistical information needed to undertake the ESCB’s tasks
referred to in the Treaty. Accordingly, the purposes for which
statistical information may be collected should also comprise the
compilation of macro-prudential statistics required for the
performance of the ESCB’s tasks under Article 105 of the Treaty;
- the scope of the reporting requirements necessary for the performance of the ESCB’s tasks should
also take into account structural developments in the financial markets
and address related statistical information requirements that were less
apparent when Regulation (EC) No 2533/98 was adopted. For that reason,
it is necessary to allow the collection of statistical information from
the entire sector of financial corporations, and in particular from the insurance
corporations and pension funds, which represent the second largest
sub-sector of financial corporations in the euro area in terms of
financial assets;
- in order to
allow for the continued compilation of balance of payments statistics
of sufficient quality, it is necessary to clarify the reporting
requirements imposed in connection with data on all positions and
transactions between the residents of participating Member States;
- to respond
to researchers increased demand to access confidential statistical
information which does not allow direct identification in order to
analyse and understand developments within sectors and across countries,
the text states that it is important to allow the ECB and the national
central banks to grant to scientific research bodies access to
- such
detailed statistical information at the ESCB level, while maintaining
strict confidentiality safeguards;
- in order to minimise
the reporting burden and to enable the efficient development,
production and dissemination of high-quality statistics, and the proper
performance of the ESCB’s tasks, the ECB prioritises statistical needs
and assesses the reporting burden. For the same reason, it is necessary
to allow the maximum use of existing information, surveys,
administrative data, statistical registers and other sources available,
including an exchange of confidential statistical information within
the ESCB and with the European Statistical System (ESS);
- in order to
enhance transparency, the statistics compiled on the basis of the
statistical information collected from financial sector institutions by
the ESCB should be made publicly available but a high level of
protection of confidential information should be guaranteed.
ENTRY INTO
FORCE: 15/10/2009.