Statistics on the money markets

SUMMARY OF:

Regulation (EU) No 1333/2014 concerning statistics on the money markets

WHAT IS THE AIM OF THE REGULATION?

The regulation requires monetary financial institutions (MFIs)* in the euro area to supply the European Central Bank (ECB) with daily statistical data on money market* transactions, on a transaction-by-transaction basis.

KEY POINTS

Reporting requirements

MFIs in the euro area must report statistics if:
- their total balance sheet assets are larger than 0.35% of the total main balance sheets of all MFIs in the euro area;
- the ECB Governing Council identifies them as such based on their balance sheet assets, significance in trading money market instruments and relevance to the stability and functioning of the euro area and national financial systems.
They are notified 4 months before they first have to report.
MFIs report their money market data daily to their national central bank, which transmits them to the ECB, unless they are instructed to send them directly to the ECB. In such cases, clear reporting arrangements and deadlines must be respected.
The statistical data must:
- be consolidated, covering all branches in the European Union (EU), the European Free Trade Association and the United Kingdom (even though it has left the EU);
- comply with the detailed specifications concerning secured and unsecured transactions and derivatives transactions, and with the minimum standards for transmission, accuracy, compliance with concepts, revisions and data integrity.
An MFI with such reporting obligations must inform the ECB and its national central bank if it is involved in a merger, division or other form of reorganisation that could affect its reporting obligations.
These reporting obligations no longer apply if an MFI becomes insolvent, loses its banking licence or stops providing banking services.
The ECB and national central banks have the right to verify and, if necessary, compulsorily collect the information MFIs provide.

Reviews

The ECB Executive Board, taking account of the views of the Statistics Committee of the European System of Central Banks, may amend the reporting schemes and standards included in the regulation, provided these amendments do not change basic concepts or add to the reporting burden.
The ECB:
- reviews and reports on the operation of the regulation 12 months after the first reporting;
- may increase or reduce the number of MFIs providing data and/or the statistical reporting requirements;
- updates the list of MFIs providing reports every second year.

FROM WHEN DOES THE REGULATION APPLY?

Regulation (EU) No 1333/2014 has applied since 1 January 2015.
Amending Regulation (EU) 2019/113 has applied since 15 March 2019.
Amending Regulation (EU) 2019/1677 has applied since 28 October 2019.
Amending Regulation (EU) 2020/2004 has applied since 12 December 2020.

BACKGROUND

The ECB needs accurate, harmonised and up-to-date statistics on money market transactions to support the operation and transmission of its monetary policy and to carry out various other tasks in the euro area. It also uses the data to provide analytical and statistical support to the Single Supervisory Mechanism, which supervises the banking sector in the EU.

For further information, see:

Money market statistical reporting (European Central Bank).

KEY TERMS

Monetary financial institutions (MFIs). Institutions which together form the money-issuing sector of the euro area. These include the European Central Bank, the national central banks of the euro-area countries, and credit institutions and money market funds located in the euro area.

Money market. The market in which short-term funds are raised, invested and traded, using instruments which generally have an original maturity of up to and including 1 year.

MAIN DOCUMENT

Regulation (EU) No 1333/2014 of the European Central Bank of 26 November 2014 concerning statistics on the money markets (ECB/2014/48) (OJ L 359, 16.12.2014, pp. 97–116).

Successive amendments to Regulation (EU) No 1333/2014 have been incorporated in the original text. This consolidated version is of documentary value only.