Address https://gelex.eu/eli/EU/act/o/2005/4@2005-02-15/en

Contents

1. Preamble
2. 1. Article 1
   2. Article 2
   3. Article 3
3. ANNEX
4. ANNEX I
5. 2.
6. 3.
7. grp_1
8. Reporting scheme
9. Coverage
10. Reporting requirement
11. PROCEDURES FOR THE DATA TRANSMISSION FROM THE NCBs TO THE ECB Reporting scheme for credit institutions
12. 4.
13. 5.
14. 5.3.
15. 6.
16. 8.
17. 9.
18. Dimension No 2: Reference area (REF_AREA; length: two characters)
19. 4.2.3. Mandatory:
20. ANNEX II
21. "ANNEX VI STRUCTURAL FINANCIAL INDICATORS REPORTING SCHEME AND COMPILATION INSTRUCTIONS
    1. Section 1. Reporting scheme
    2. Section 2. Compilation instructions
22. Introduction
23. 3. TABLE 1 1.4.7.8.9.11.12.13.14.16.22.27.2.3.5.6.15.17.18.19.20.21.23.24.25.26.28.29.30. Structural indicators broken down by category of data source
24. Appendix 1 2.3.5.6.15.17.18.19.20.21.23.24.25.26. Reporting scheme for the 14 structural financial indicators compiled using data provided by NCBs
25. Appendix 2 Electronic transmission of banking structural financial indicators — key family identifier: ECB_SSI1
    1. Section 1. Dimensions
    2. Section 2. The attributes
26. Section 2. The attributes
    1. Section 2.3. Attributes at observation level
    2. Section 3. Revision policy
27. Appendix 3 TABLE 1 TABLE 2 Stocks data Series keys for structural financial indicators Adjustments data Series keys for structural financial indicators
28. ANNEX III
29. ANNEX IX MEMORANDUM ITEMS TO BE PROVIDED Reporting scheme
30. I.
31. 6. TABLE A 8————11147 TABLE B 1113147 ECB/NCBs data (stocks) Other MFIs data (stocks)
32. II.
33. 13. TABLE C A.B. Other MFIs data (stocks)
34. III.
35. 16. TABLE D 14357 Quarterly data: NCBs/ECB/Other MFIs data (stocks)
36. ANNEX IV
37. ANNEX XIII REPORTING STANDARDS FOR THE ELECTRONIC EXCHANGE OF STATISTICAL DATA ECB BALANCE SHEET ITEMS STATISTICS KEY FAMILY IDENTIFIER: ECB_BSI1 MFI balance sheet statistics for the purpose of the production of the consolidated balance sheet
38. 1. TABLE 1 BSI key family (ECB_BSI1): Series dimensions
39. 2.
40. 3.
41. TABLE 2 TABLE 3 Coded and uncoded attributes defined for the ECB_BSI1 key family Common attributes properties for the ECB_BSI1 key family: Euro area NCBs reporting to the ECB
42. 3.3. Mandatory:
43. 5.
44. 5.1.
45. 5.2.
46. 6.
47. 6.2. TABLE 4 Balance sheet items — change in timeliness: implementation for stock data
48. 7.
49. ANNEX V
50. ANNEX XVIII STATISTICS ON OTHER FINANCIAL INTERMEDIARIES EXCEPT INSURANCE CORPORATIONS AND PENSION FUNDS REPORTING INSTRUCTIONS FOR THE COMPILATION OF STATISTICS FOLLOWING A SHORT-TERM APPROACH
51. 2.
52. 3.
53. 3.2.
54. 4.
55. 4.1. Overview of the instrument and maturity breakdown Additional requirements for the purposes of MUFA compilation
56. Geographical and sectoral breakdowns
57. Geographical breakdowns
58. Sectoral breakdowns
59. Breakdown by purpose
60. 4.3. Overview of the instrument and maturity breakdown of transaction data Sales and repurchases of investment fund shares/units Additional requirements for the purposes of MUFA compilation
61. 4.3. Overview of the instrument and maturity breakdown of transaction data
62. 4.3. Overview of the instrument and maturity breakdown of transaction data Sales and repurchases of investment fund shares/units
63. 5.
64. 5.1. Dimension No 1: Frequency (FREQ; length: one character)
65. 5.2. Balance sheet items key family (ECB_OFI): coded and uncoded attributes Euro area NCBs reporting to the ECB Common attribute properties for the ECB_OFI key family
66. 5.2.1. Conditional:
67. 6.
68. 6.1. KEY INDICATORS

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular to Article 5.1, Article 12.1 and Article 14.3 thereof,

Whereas:

(1) Following a review of Guideline ECB/2003/2 of 6 February 2003 concerning certain statistical reporting requirements of the European Central Bank and the procedures for reporting by the national central banks of statistical information in the field of money and banking statistics, certain amendments were found to be necessary.

(2) Some amendments are required to the enacting terms and to Annexes I and II due to the deletion of Annex III, which contained the delivery calendars for various types of statistics. Annex III is deleted because, in the future, the European Central Bank (ECB) will communicate these calendars to the national central banks (NCBs) each year by end-September in respect of the data transmission of the following year.

(3) Annex V should be amended to bring the reporting scheme for credit institutions in line with that used for NCBs and other monetary financial institutions.

(4) In Annex VI, the term structural statistical indicators should be replaced by structural financial indicators in order to avoid confusion. This could arise because Eurostat produces a set of structural indicators which are also stored in the ECB database.

(5) Annex VII should be amended so that the item euro banknotes and coins held by the central government becomes a high priority memorandum item. This will help to improve the calculation of monetary aggregates.

(6) Annex IX should be amended to include a requirement to report the money and banking statistics memorandum items necessary for the quarterly production of monetary union financial accounts (MUFA).

(7) Annex X needs to be amended following an amendment to Regulation ECB/2001/13 of 22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector) as regards the valuation rules to be used in the valuation of certain financial instruments. In addition, Table 5 should be amended to include quarterly memorandum items adjustments.

(8) Annex XIII should be amended to take account of the new quarterly memorandum items adjustments now required under Annex X.

(9) Annex XVI should be amended so that the delivery calendar for the data to be reported under it matches that for reserve base statistics.

(10) Annex XVIII should be amended to include a new requirement to provide transactions data and data on sales and repurchases of units/shares issued by investment funds. In addition, a requirement for new time series that will be used in the compilation of MUFA should also be included.

(11) Annex XIX should be amended to include a formula for valuing zero coupon bonds.

(12) Some further amendments are required following the review, inter alia, because of the accession of the new Member States on 1 May 2004, and of the expiry of certain transitional reporting arrangements and derogations.

(13) In accordance with Article 12.1 and Article 14.3 of the Statute, ECB guidelines form an integral part of Community law,

HAS ADOPTED THIS GUIDELINE:

Article 1

Guideline ECB/2003/2 is amended as follows:

1. Article 2(1) is replaced by the following:

1. The NCBs shall compile and report two aggregate balance sheets of the subsectors central bank and other MFIs of their respective Member State, in accordance with Regulation ECB/2001/13. In particular, the required statistical information concerning the central bank balance sheet is further defined in the bridging tables for money and banking statistics as laid down in Annex I. The ECB, for statistical reporting purposes, derives data from its own balance sheet, corresponding to the data derived by the NCBs from their own balance sheets. As compilers of their own balance sheets, the NCBs shall follow the procedure laid down in Annex II in their regular monitoring of the consistency between the Eurosystem’s end-month aggregated balance sheet for statistical purposes and its weekly financial statement and in their regular reporting to the ECB of the outcome of their monitoring. As the compiler of its own balance sheet, the ECB follows the same procedure. This statistical information shall be reported in accordance with the yearly calendar laid down by the ECB and communicated to the NCBs by end-September each year.

2. Article 7(1) is replaced by the following:

1. For the regular production by the ECB of MFI interest rate statistics, NCBs shall report statistical information in accordance with Annex XX. This statistical information shall be reported in accordance with the yearly calendar laid down by the ECB and communicated to the NCBs by end-September each year.

3. Annexes I, II, V, VII, X, XV, XVI, XIX and XX are amended in accordance with Annex I to this Guideline.

4. Annex III is deleted.

5. Annex VI is replaced by Annex II to this Guideline.

6. Annex IX is replaced by Annex III to this Guideline.

7. Annex XIII is replaced by Annex IV to this Guideline.

8. Annex XVIII (except for (i) the table entitled Series on OFIs other than investment funds to be transmitted to the ECB (key indicators/memorandum items) in its Appendix 1; and (ii) its Appendix 2) is replaced by Annex V to this Guideline.

Article 2

This Guideline shall enter into force on 17 February 2005.

Article 3

This Guideline is addressed to the NCBs of the Member States that have adopted the single currency in accordance with the Treaty establishing the European Community.

Done at Frankfurt am Main, 15 February 2005. For the Governing Council of the ECB The President of the ECB Jean-Claude Trichet

ANNEX

ANNEX I

Annexes I, II, V, VII, X, XV, XVI, XIX and XX to Guideline ECB/2003/2 are amended as follows:

1. In Annex I, the first paragraph is replaced by the following: The national central banks (NCBs) and the European Central Bank (ECB), as compilers of their own balance sheet statistical information, use the following bridging tables in their regular monitoring of the consistency between the Eurosystem’s end-month aggregated balance sheet for statistical purposes and the daily financial statements for accounting and liquidity management purposes. This statistical information should be reported in accordance with the yearly calendar laid down by the ECB and communicated to the NCBs by end-September each year.

2. Annex II is amended as follows:

2.

(a) Sections 1 to 6 are replaced by the following:

(a)

1. This Annex describes the procedure to be followed by compilers of the European Central Bank’s (ECB’s)/national central banks’ (NCBs’) balance sheets in order to monitor the consistency between the Eurosystem’s end-month aggregated balance sheet for statistical purposes and its weekly financial statement (WFS). A comparison is made between the accounting data and the corresponding statistical items.

2. A list of consistency checks has been made (see Appendix 1). If there are any discrepancies between the two sets of data, these must be explained. Appendix 2 provides explanatory notes regarding these checks. The statistical aggregates used in the comparisons are listed in Appendix 3, which provides a link between these aggregates and the elementary balance sheet data. As regards the description of accounting data, Guideline ECB/2002/10 of 5 December 2002 on the legal framework for accounting and financial reporting in the European System of Central Banks provides complete background information on the structure, accounting conventions used in and content of the WFSs.

3. Compilers are requested to perform these checks on a monthly basis, to ensure consistency between the elementary data of the NCBs, country-by-country, and the ECB balance sheet. It is understood that a precise link between the two sets of data is possible only when the closing date of the accounting WFS matches the reference date of the statistical reports (i.e. end-month). In the other reporting periods, these checks will ensure close but not perfect consistency between the accounting and statistical data. In those reporting periods in which the two dates do not coincide, NCBs may make a comparison of the statistical data with the daily balance sheet produced as at the last working day of the month.

4. Compilers are requested to notify the ECB (Monetary, Financial Institutions and Markets Statistics Division (MFMD)) of the outcome of these checks. The notification should be transmitted before or together with the statistical data, i.e. by the 15th working day after the reference date. If the checks identify discrepancies, compilers are requested to send the MFMD an explanatory note, which should at least contain a description of the checks involved, the nature of the discrepancies, the possible impact on past data series and the expected future trend of the discrepancy as this will appear in future reports.

5. In order to minimise the burden on the NCBs, it is recommended that a full explanatory note should be compiled, normally only once a year. In the interim months, NCBs are only required to complete a simplified version of the explanatory note in which they simply flag the structural differences between the WFS and the statistical report. As a guide, the explanatory notes should be compiled according to the attached templates. The first template (Appendix 4) shows in full the outcome of consistency checks. The second template (Appendix 5) shows in a simplified manner the outcome of the checks.

6. It is important that all NCBs (and the ECB’s Directorate Internal Finance) send full explanatory notes at the same time of the year. This will allow the MFMD to prepare, once a year, a detailed report describing the discrepancies identified. For the year 2005, the following timetable shows which template is recommended to be used and when. In particular, the next comprehensive template should be sent in October 2005 with reference to end-September 2005 data. Reporting period Last WFS of the month Dates of WFS and of statistical reports coincide Type of template January 2005 28 january 2005 No Simplified February 2005 25 february 2005 No Simplified March 2005 25 march 2005 No Simplified April 2005 29 april 2005 Yes Simplified May 2005 27 may 2005 No Simplified June 2005 24 june 2005 No Simplified July 2005 29 july 2005 Yes Simplified August 2005 26 august 2005 No Simplified September 2005 30 september 2005 Yes Comprehensive October 2005 28 october 2005 No Simplified November 2005 25 november 2005 No Simplified December 2005 30 december 2005 Yes Simplified

(b) in the table in Appendix 1, the headings Item of Table 2.1 of the Monthly Bulletin and Item of Table 1.1 of the Monthly Bulletin are replaced by the headings Statistical item and Accounting item respectively;

(c) in the table in Appendix 3, the heading ECB Monthly Bulletin — Table 2.1 items is replaced by the heading Statistical items — Eurosystem aggregated balance sheet.

3. Annex V is amended as follows:

3.

(a) Sections 1 to 11 are replaced by the following:

(a)

grp_1

1. Data from separate balance sheets relating to the European Central Bank (ECB)/national central banks (NCBs) and other monetary financial institutions (MFIs) are currently reported according to Tables 1 to 4 of Regulation ECB/2001/13. These data are, however, not sufficient for the purposes of macro-prudential analysis for those countries where the reporting population of other MFIs consists of both credit institutions and money market funds (MMFs) and the impact of the latter is significant. In these cases, a separate reporting scheme for credit institutions only is needed to enable the carrying-out of macro-prudential analysis of the European Union banking system and to calculate the macro-prudential indicators (MPIs) related to the subset of credit institutions.

Reporting scheme

2. In order to calculate the MPIs, those NCBs that meet the necessary criteria report separate data referring to credit institutions only in respect of Tables 1, 2 and 4 of Regulation ECB/2001/13. Data requested under Table 4 are reported as from the reference month March 2005. No data are requested under Table 3 (hence no additional statistical data for credit institutions are required). Data on credit institutions are reported at a quarterly frequency, both for stocks and, where appropriate, in respect of flows adjustments.

3. Data are reported quarterly, within 28 working days of the end of the reference period.

4. At the request of the data users, NCBs also report, as memorandum items, deposit liabilities. This reporting is done according to a credit institutions (excluding central banks)/other MFIs/non-MFIs breakdown. Where this information is not available, users agreed to retain the concept of deposits from MFIs, as it can be derived from Table 1 (i.e. with no further distinctions within the MFI sector).

5. Macro-prudential requirements consist of data as stocks and as flows, the latter recorded as transaction values. This implies the need for so-called adjustments data. These data are currently only available for stocks data contained in Tables 1 and 2, but are not available for Table 4. In this context, the need to provide adjustments data for Table 4 is still under investigation. In the meantime, users will rely only on differences in stocks adjusted for exchange rate changes (which are calculated by the ECB).

Coverage

6. In principle, the supplementary data reported in respect of the credit institutions’ balance sheet should cover 100 % of the institutions that are classified in this sector. In those cases where the actual reporting coverage is less than 100 % due to the application of the cutting-off-the-tail principle, NCBs are requested to gross up the data supplied to ensure 100 % coverage. This will improve the comparability of the indicators between the Member States and ensure consistency with the MFI sector balance sheet data that are also grossed up.

Reporting requirement

7. Separate balance sheet data on credit institutions are reported, according to the reporting schemes in Appendices 1 and 2, by NCBs in those countries where the reporting population of other MFIs consists of both credit institutions and MMFs and the impact of the MMFs is deemed to be statistically important. The impact of MMFs is deemed to be statistically important where both of the following criteria are fulfilled simultaneously:

Criterion 1: The difference between the balance sheet total of the MFI sector and the balance sheet total of its subset of credit institutions is more than EUR 5 billion on a sustained basis. and

Criterion 2: MFIs other than credit institutions (i.e. MMFs) have an impact on more than one item on either side of the MFI sector balance sheet.

(b) Appendix 1 is replaced by the following: ;

(b)

PROCEDURES FOR THE DATA TRANSMISSION FROM THE NCBs TO THE ECB Reporting scheme for credit institutions

1. The reporting scheme laid out in Appendix 2 applies to credit institutions only, whereas Tables 1 to 4 of Regulation ECB/2001/13 cover balance sheet data of the whole other MFIs sector.

2. The codes used for the items in the reporting scheme belong to the balance sheet items key family, the dimensions and attributes of which are presented in Annex XIII. Please note that:

as balance sheet data for credit institutions only are to be reported at quarterly frequency, dimension No 1 (frequency) is always Q (quarterly),

dimension No 4 (breakdown of the reference sector in the balance sheet) is R (credit institutions subject to minimum reserve requirements) for all items.

3. The reporting scheme consists of seven tables: Table 1_credit institutions (stocks), Table 2_credit institutions (stocks), Table 4_credit institutions (stocks), Table 1_credit institutions reclassifications, Table 1_credit institutions revaluations, Table 2_credit institutions reclassifications and Table 2_credit institutions revaluations.

4. Table 1_credit institutions (stocks) mirrors the corresponding monthly Table 1 of Regulation ECB/2001/13, with the exception of the item MMF shares/units on the liabilities side of the balance sheet.

5. Table 2_credit institutions (stocks) mirrors the corresponding quarterly Table 2 of Regulation ECB/2001/13.

6. Table 4_credit institutions (stocks) mirrors the corresponding quarterly Table 4 of Regulation ECB/2001/13.

7. The remaining four tables concerning adjustments data are reported in accordance with the methodology established in Annex X.

(c) TABLE 4 A.B.C.A.B.C.A.B.C.A.B.C. Credit institutions (stocks)

in Appendix 2, Stocks, Table 4 (credit institutions (stocks)) is replaced by the following: Balance sheet items All currencies combined Euro Other EU Member States currencies Other currencies (includes other EU Member States currencies excluding DKK, SEK, GBP) CZK DKK EEK CYP LVL LTL HUF MTL PLN SIT SKK SEK GBP Total USD JPY CHF Remaining currencies combined LIABILITIES Deposits Domestic from MFIs Table 1 Table 1 from non-MFIs Table 1 Other participating Member States from MFIs Table 1 Table 1 from non-MFIs Table 1 Rest of the world up to 1 year Table 1 over 1 year Table 1 from banks Table 2 from non-banks Debt securities issued Table 1 Table 1 Capital and reserves Table 1 Remaining liabilities Table 1 ASSETS Loans Domestic to MFIs Table 1 to non-MFIs Table 1 Table 1 Other participating Member States to MFIs Table 1 to non-MFIs Table 1 Table 1 Rest of the world up to 1 year Table 1 over 1 year Table 1 to banks Table 2 to non-banks Securities other than shares Domestic issued by MFIs Table 1 Table 1 issued by non-MFIs Table 1 Table 1 Other participating Member States issued by MFIs Table 1 Table 1 issued by non-MFIs Table 1 Table 1 Rest of the world issued by banks Table 2 issued by non-banks MMF shares/units Domestic Table 1 Other participating Member States Table 1 Rest of the world Table 1 Remaining assets Table 1

4. Annex VII is amended as follows:

4.

(a) the following introductory paragraph is inserted after the title of Section 2: The definitions of euro area monetary aggregrates are based on a harmonised definition of the money-issuing and money-holding sectors as well as on harmonised categories of MFI liabilities. The money-holding sector includes all non-MFI residents in the euro area, excluding the central government sector. Therefore for the purposes of the compilation of monetary aggregrates the item euro banknotes and coins held by the central government is reported as a high priority memorandum item. The ECB will accept estimates using available data (e.g. monetary union financial accounts annual and/or quarterly data). This item is to be reported on a monthly basis and with the same timeliness as the monthly mandatory MFI balance sheet statistics in accordance with Regulation ECB/2001/13. ;

(b) Section 2.2 is replaced by the following:

(b)

2.2. Central government holdings of instruments issued by euro area MFIs Debt securities and money market fund shares issued by euro area MFIs and held by central government.

5. Annex X is amended as follows:

5.

(a) footnote 4 is replaced by the following: ;

(a)

(4) First published by the ECB in December 1999.

(b) paragraph 10.1 is replaced by the following: ;

(b)

10.1. The transaction value of deposits/loans (Regulation ECB/2001/13, Annex I, part 2, Table A, items 2 and 9) represents the amount that an MFI receives (as a deposit) or provides (as a loan), excluding fees etc.. The transaction value excludes accrued interest that is receivable (on loans) or payable (on deposits) but has not yet been received or paid. Instead, accrued interest on loans/deposits is recorded under remaining assets or remaining liabilities, as appropriate.

(c) paragraphs 26 and 27 are deleted.

(d) paragraph 51.1 is replaced by the following: ;

(d)

51.1. The first step is to identify balances denominated in each of the key foreign currencies (USD, JPY and CHF) and in currencies of non-participating EU Member States. As separate currency-by-currency breakdowns are only available on a quarterly basis (at the end-quarters), the end-month breakdown is calculated using proportions derived from data available for the previous end-quarter.

(e) paragraph 51.3 is replaced by the following: ;

(e)

51.3. It is also assumed that the size of currencies other than the euro (USD, JPY, CHF and the currencies of non-participating EU member states) in the MFI balance sheet is small. Furthermore, detailed currency-by-currency data are available only in respect of the limited breakdown of Regulation ECB/2001/13, Annex I, Part 2, Table 4. In order to overcome this difficulty, the same currency proportions calculated in respect of the items in this table are applied to the more detailed breakdowns contained in Annex I, Part 2, Table 1.

(f) paragraph 55 is replaced by the following: ;

(f)

55. Reporting agents are subject to a reporting requirement formed by the minimum requirements identified in Regulation ECB/2001/13, Annex I, Part 2, Table 1A, although NCBs are permitted to collect additional data not covered by the minimum requirements. In any case, NCBs compile a full set of data to be sent to the ECB according to Table 5, column E. In this process, NCBs may need to calculate and/or estimate the adjustments in respect of some of the breakdowns not reported by the MFIs because they are not considered as minimum requirements. The counterpart of the write-off/write-down adjustment will be one or other of the items capital and reserve/remaining liabilities, according to national accounting practices.

(g) paragraph 62 is replaced by the following: ;

(g)

62. On the liabilities side of the balance sheet, revaluations may also be reported in respect of debt securities issued. However, no change in MFI reporting obligations is introduced in this respect, as price revaluation of debt securities issued remains outside the minimum requirements set out in Regulation ECB/2001/13.

(h) Section 4.5 Transitional period on the revaluation adjustment is deleted;

(i) the following Section 5.3 is added: ;

(i)

5.3. Memorandum items

5.3.

87. Flows are also calculated in respect of quarterly memorandum items for the compilation of the monetary union financial accounts of the euro area. In order to avoid increasing the reporting burden these memorandum items have been integrated into the existing statistical framework for the regular production of money and banking statistics. For this reason reclassification and revaluation adjustments are calculated in respect of these memorandum items. These data are reported as set out in Table 5a.

(j) in Appendix 1, the following paragraph 16a is inserted: Transitional period regarding the revaluation adjustment ;

(j)

16a. Regulation ECB/2001/13 established that, for a transitional period of 12 months, the requirements on write-offs/write-downs of loans and price revaluations on securities data could be reported to the ECB with a delay of one further month from the close of business on the 15th working day following the end of month to which the data relate. Nevertheless, the NCBs which applied the transitional provision continued to send data on the monthly revaluation adjustments series that were previously covered by Guideline ECB/2002/5 with the same timeliness as for the corresponding stock series. They had the option of providing provisional or estimated data which was then revised in the following monthly data transmission.

(k) TABLE 5a 14.D. -3.A. ----B. ----C. -A. ----B. ----C. -3e.A. ----B. ----C. -A. ----B. ----C. -5.A. -B. -C. -A. -B. -C. -7.D. - Detailed specification of the quarterly flows data for the compilation of the MUFA — memorandum items

the following Table 5a is inserted: ECB R = ECB Regulation data ECB G = ECB Guideline data NCB = Additional data supplied by NCBs ECB = Data calculated by the ECB ECBR code (see Table 2) Balance sheet at the end of the reporting month Balance sheet at the end of the previous month Reclassifications and other adjustments (+/–) Exchange rate adjustment (+/–) Revaluation adjustment (+/–) Flows (+/–) A B C D E F = [A – B] – C – D – E LIABILITIES Remaining liabilities Net equity of households in pension funds reserves Not allocated - - ECB G ECB G ECB G ECB ECB G ECB ASSETS Securities other than shares (all currencies) up to 1 year Domestic — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB over 1 year Domestic — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB Securities other than shares (Euro) up to 1 year Domestic — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB over 1 year Domestic — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS — non-MFIs Central government - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB Shares and other equity Quoted shares Domestic - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB Investment funds (not MMF) shares Domestic - - ECB G ECB G ECB G ECB ECB G ECB Other participating MS - - ECB G ECB G ECB G ECB ECB G ECB Rest of the world - - ECB G ECB G ECB G ECB ECB G ECB Remaining assets Prepayment of insurance premiums and reserves for outstanding claims Not allocated - - ECB G ECB G ECB G ECB ECB G ECB

6. Annex XV is amended as follows:

6.

(a) the section entitled Regular reporting of the data is replaced by the following: The reserve base statistics comprise six time series for credit institutions, referring to month-end stock figures to be transmitted to the ECB, at a monthly frequency, at the latest by the NCB business day preceding the start of the maintenance period, via the ESCB data exchange system. Credit institutions in the tail (i.e. those exempt from full monthly reporting) report a limited breakdown to the NCBs on a quarterly basis. For these tail credit institutions, simplified reserve base statistics for the three reserve maintenance periods are used, and the NCBs will include data for tail credit institutions according to their reporting timetable. ;

(b) the section entitled Revision policy is replaced by the following: Revisions by the reporting institutions to the reserve base/reserve requirements that occur after the maintenance period has started (late revisions), should not lead to revisions to the statistics on the reserve base and on the reserve requirements.

7. In Annex XVI, the section entitled Regular reporting of the data is replaced by the following: The three time series for the credit institutions, referring to month-end stocks figures, are transmitted to the ECB at a monthly frequency, by the NCB business day preceding the start of the maintenance period. The series are transmitted even if the related BSIs are not applicable in the Member State, in order to allow a consistent treatment of the items in the framework of the consolidated balance sheet.

8. Annex XIX is amended as follows:

8.

(a) the first paragraph of Section 2 Conceptual framework and data collection is replaced by the following: Chart 1 summarises the conceptual framework within which NCBs submit securities issues statistics to the ECB. The principal distinction is drawn on the basis of the residency of the issuer. NCBs report all issues. The 12 Eurosystem NCBs collectively cover all issues by residents of the euro area. The Bank for International Settlements (BIS) reports issues by the rest of the world (hereinafter RoW), referring to all non-euro area residents, with issues by residents of each of the non-participating Member States distinguished from the other RoW countries.

(b) Chart 1: Summary of the conceptual framework

Chart 1 is replaced by the following: Securities issues By euro area residents (each NCB reporting on its domestic residents) By RoW residents (BIS/NCB) BE DE EL ES FR IE IT LU NL AT PT FI Non-participating Member States Other countries In euro/national denominations Block A Block B In other currencies Block D not required Block C

(c) the first paragraph of Section 6.2 Reporting requirements is replaced by the following: For historical data prior to 1 January 1999, euro/national denominations referred to the ECU and to the national currencies of the participating Member States. Since 1 January 1999, it has referred to the euro and its national denominations. Other currencies refers to all other currencies, including the national currencies of non-participating Member States. ;

(d) Section 10.1 is replaced by the following: ;

(d)

10.1. Price valuation Stocks and flows of quoted shares are reported at market value, stocks and flows of securities other than shares at face value. An exception to the recording of stocks and flows of securities other than shares at face value is made in respect of deep-discounted and zero coupon bonds, where the issues are recorded at the effective amount paid, i.e. the discounted price at the time of purchase, and the redemptions at maturity at face value. The outstanding amounts of deep-discounted and zero coupon bonds are the effective amount paid plus accrued interest as shown below. Early redemptions are recorded at the value of the effective amount paid plus accrued interest as at the time of redemption. A=E×100E/P×100tT where A effective amount paid and accrued interest E effective value (amount paid at the time of issuance) P face value (repaid at end of maturity) T time to maturity from issuance date (in days) t time passed since issuance date (in days) Certain differences in the price valuation procedure used across countries are accepted. Each reporting country specifies in detail in the national explanatory notes the valuation procedure used for 1. short-term debt securities; 2. long-term debt securities; 3. discounted bonds; and 4. quoted shares. If the valuation differs for stocks and flows this is also explained. Price valuation according to the ESA 95, which requires for debt securities and shares that flows are recorded at transaction value and stocks at market value, is not applied in this context. The existing valuation rules of the BIS are face value for debt securities and issue price for quoted shares. For deep discounted and zero coupon bonds accrued interest is calculated where feasible by the reporting NCB.

(e) the second indent of the second paragraph of Section 10.2 Reporting currency and exchange rate valuation is replaced by the following: Gross issues and redemptions are to be converted into euro/national denominations using the mid-market exchange rate prevailing at the time of payment. If it is not possible to identify the exact exchange rate applicable for the conversion, an exchange rate that is as close as possible to the mid-market rate at the time of payment may be used. ;

(f) Section 13.1.2 is replaced by the following: ;

(f)

13.1.2. Dimension No 2: Reference area (REF_AREA; length: two characters) This dimension represents the country of residence of the issuing sector. The code list associated with this concept is CL_AREA_EE. Only a subset of values is used to define the reference area for the securities issues key family, since the issuing countries are the EU Member States and the RoW.

(g) Section 13.1.7 is replaced by the following: ;

(g)

13.1.7. Dimension No 7: Currency of transaction (CURRENCY_TRANS; length: three characters) This dimension describes the currency in which the securities are issued and is associated with the code list CL_CURRENCY. For the securities issues key family, only a subset of values from the code list is used. Securities issued in euro or its national denominations are reported with currency dimension EUR, while securities issued in currencies other than euro are reported with Z06. Additional values (e.g. DKK, SEK, GBP) are already included in the code list as these might be needed for the data transmission by the non-participating Member States.

(h) Section 13.1.9 is replaced by the following: ;

(h)

13.1.9. Dimension No 9: Series suffix in securities context (SEC_SUFFIX; length: one character) This dimension has been specially tailored to fulfil the requirements of the securities issues key family according to the short-term approach. In this context, it allows new developments or extensions specific to securities issues statistics that might be needed in the future. The two values (P) percentage and (Z) unspecified are currently used for this key family, linked to the code list CL_SEC_SUFFIX.

(i) in Appendix 1, Section 13 is replaced by the following:

13. Estimated coverage per instrument issued by domestic residents: NCBs give national estimates of the coverage of securities for each category of issues by domestic residents, i.e. issues of short-term securities, long-term securities, and quoted shares, in local currency, other euro/national denominations including ECU, and other currencies. The estimates for coverage in % indicate the share of securities covered in each instrument category as percentages of the total issuance (consisting of both domestic and international issues), which should ideally be reported under the relevant heading following the reporting rules. Brief descriptions can be provided in comments. NCBs also indicate any changes in coverage as a result of monetary union. STS short-term securities other than shares. LTS long-term securities other than shares. QUS quoted shares. Coverage in % Comments Issues in euro/national denominations Local denomination STS LTS QUS Euro/national denominations other than the local currency including ECU STS LTS In other currencies STS LTS

9. Annex XX is amended as follows:

9.

(a) in Section 4.1, Dimension No 2 is replaced by the following: ;

(a)

Dimension No 2: Reference area (REF_AREA; length: two characters)

This dimension represents the country of residence of the reporting institution. The associated code list CL_AREA_EE contains the standard ISO country list. The subset of code values used in the ECB_MIR1 key family corresponds to the euro area Member States.

(b) in Section 4.2.2, Attributes at time series level, Mandatory, the first paragraph is replaced by the following: COLLECTION (code list: CL_COLLECTION): This attribute provides an explanation of the time when observations are collected (e.g. beginning, middle or end of period) or an indication of whether data are averages over the month or end of month observations. Unless NCBs state otherwise, the ECB sets the collection attribute by default to E (= end of period) for MFI interest rates on outstanding amounts, and to A (= average of observations through period) for MFI interest rates on new business. For business volumes on outstanding amounts the default for the collection attribute is also E (= end of period), while the new business volumes are flagged as S (= sum of observations through period). ;

(c) Section 4.2.3 is replaced by the following:

(c)

4.2.3. Attributes at observation level

4.2.3. Mandatory:

OBS_STATUS (code list: CL_OBS_STATUS): NCBs report an observation status value attached to each exchanged observation. This attribute is mandatory and must be provided with every data transmission for every individual observation. When NCBs revise the value of this attribute, both the observation value (even if unchanged) and the new observation status flag are retransmitted. The list below specifies the expected values (according to the agreed hierarchy) for these attributes for the purpose of the MIR statistics: A normal value, B break value, M data do not exist (for non-applicable data, e.g. when an instrument category is inapplicable at national level), P provisional value, E estimated value.

OBS_CONF (code list: CL_OBS_CONF): if an NCB wishes to differentiate between the confidentiality status of one or more specific observations, it may use the observation confidentiality attribute. The value of this attribute (if any) may be modified when transmitting the data by the sender of the information. When this attribute is not set, no restrictions regarding confidentiality (OBS_CONF = F (free)) are assumed.

OBS_PRE_BREAK (uncoded): this attribute contains the pre-break observation value, which is a numeric field like the observation. It is provided when a series break occurs (and the observation status is set to B).

OBS_COM (uncoded): this attribute can be used to provide textual comments (text up to 350 characters) at the observation level (e.g. describing the estimate or assumption made for a specific observation due to lack of data, explaining the reason for a possible abnormal observation or giving details of a change in the reported time series).

ANNEX II

"ANNEX VI STRUCTURAL FINANCIAL INDICATORS REPORTING SCHEME AND COMPILATION INSTRUCTIONS

Introduction

1. In order to carry out a regular analysis of banking structures in the European Union (EU), the Banking Supervisory Committee needs data to compile a number of structural indicators. The list of structural indicators contains 29 series. Twelve of these series can be compiled on the basis of data already available within the European Central Bank (ECB). A further 14 indicators can be compiled only using additional data collected from national central banks (NCBs), whilst the remaining three indicators are compiled by the Working Group on Banking Developments using other non-harmonised sources.

2. This Annex provides a reporting scheme and compilation instructions for the 14 indicators compiled using data from NCBs. This data collection will be based on information already available within the European System of Central Banks (ESCB).

3. TABLE 1 1.4.7.8.9.11.12.13.14.16.22.27.2.3.5.6.15.17.18.19.20.21.23.24.25.26.28.29.30. Structural indicators broken down by category of data source

The full list of indicators is set out below. Those indicators that are to be produced using additional data supplied by NCBs are highlighted in bold. No Source of data No of indicators Description 1 ECB and SDC Platinum™ (marked with *) 12 Number of credit institutions (CIs) Number of domestic mergers and acquisitions (M & A) involving CIs* Total assets of CIs Total loans of CIs to non-CIs Total deposits of CIs from non-CIs Gross issues of long-term debt securities by non-financial companies Gross issues of short-term debt securities by non-financial companies Market value of listed shares Total assets of securities and derivatives dealers Total assets under management by investment funds Number of European Economic Area (EEA) country M & A between CIs* Number of third country M & A between CIs* 2 NCBs: MBS Area and Eurostat/Monetary Union Financial Accounts (marked with **) 14 Number of local units (branches) of CIs** Number of employees of CIs** Share of the 5 largest CIs in total assets (CR5) Herfindahl index for CIs’ total assets Total investments of insurance companies** Total assets under management by pension funds** Number of branches of CIs from EEA countries Total assets of branches of CIs from EEA countries Number of subsidiaries of CIs from EEA countries Total assets of subsidiaries of CIs from EEA countries Number of branches of CIs from third countries Total assets of branches of CIs from third countries Number of subsidiaries of CIs from third countries Total assets of subsidiaries of CIs from third countries 3 Users/Payment and Settlement Systems Committee (unharmonised data) 3 Number of virtual banks Total assets of virtual banks Total number of automated teller machines

Section 1. Reporting scheme

4. The reporting scheme to be used for this data transmission is attached as Appendix 1. Data to calculate structural indicators on CIs are required at annual frequency. Data are reported by the end of March each year with reference to the previous year. It is expected that this timeliness requirement can be satisfied in respect of all of the indicators with the exception of indicator No 3 Number of employees of CIs where data should, if possible, be provided by the end of May each year with reference to the previous year.

5. The statistical requirements consist of data as stocks, absolute numbers or ratios, as indicated. In addition to stocks, there is a requirement for flows adjustments data to be reported, if available. In the case of balance sheet data, flows adjustments refer to price and foreign exchange revaluations, write-offs, write-downs and reclassifications. To simplify the reporting scheme, flows adjustments should be reported combined as a single total, without further breakdowns by type of adjustment. If flows adjustments are not available, the users will rely only on differences in stocks adjusted for exchange rate changes (which are calculated by the ECB). In the case of absolute numbers or ratios, flows adjustments are not applicable.

6. In principle, the data collected should cover 100 % of the institutions that are defined as CIs (see Section I.2 of Part 1 of Annex I to Regulation ECB/2001/13). In those cases where the actual reporting coverage is less than 100 % due to the application of the cutting-off-the-tail principle, NCBs are requested to gross up the data supplied to ensure 100 % coverage. This ensures the comparability of the indicators between the Member States and consistency with the MFI balance sheet data that are grossed up in accordance with Annex XIV.

7. Simple consistency checks will be carried out at the ECB upon receipt of the data. For instance, if indicator No 18 is zero, then indicator No 19 must also be zero. The same applies to indicators Nos 20 and 21, 23 and 24 and 25 and 26. Moreover, cross-checks between indicators Nos 18 and 23 and the List of MFIs may be carried out as well. The transmission instructions are attached in Appendix 2.

Section 2. Compilation instructions

8. NCBs shall provide data in respect of 14 indicators (second group in Table 1) in accordance with the conceptual and methodological rules set out below. The overall aim is to ensure adherence as much as possible to the statistical principles adopted in the compilation of the MBS data (which are used for most indicators of the first group in Table 1). For instance, data should be aggregated, not consolidated; the residency principle should follow the so-called host country approach; balance sheet data should be reported on a gross basis; etc.

9. The data to be provided by NCBs are described below. Any deviation from the definitions and the rules described below should be reported by the NCBs to the ECB in order to monitor national practice. Information on possible deviations should be reported under the last column of the reporting scheme.

10. Indicator No 2: Number of local units (branches) of CIs. This indicator refers to the number of branches as at the end of the reference period. The definition of branches is contained in Regulation ECB/2001/13: Branches are unincorporated entities (without independent legal status) totally owned by the parent. This indicator should only include branches that belong to CIs. The offices of institutional units that are not themselves CIs should be excluded, even if they belong to the same group as a CI. This is necessary in order to avoid any distortions in the comparison between this indicator and, for example, indicator No 7 on the total assets of CIs.

11. For consistency reasons, the ECB’s definition of branch should be used by all NCBs.

12. Indicator No 3: Number of employees of CIs. This indicator refers to the average number of staff employed during the reference year. The definition used for this indicator is close to that used by Eurostat. However, data for this indicator should only include staff employed by CIs. Employees of financial institutions that are not themselves CIs should be excluded, even if these institutions belong to the same group.

13. Indicator No 5: Share of the five largest CIs in total assets (CR5). This indicator refers to the concentration of banking business. Users have expressed a preference to use a consolidated group approach to calculate this indicator, whereby two or more institutions that belong to the same group are counted as one single institution. The application of such an approach is currently not possible using MBS data, for two reasons. First, MBS data are unconsolidated, therefore it would not be possible to include the balance sheets of other group institutions nor to net out intra-group assets and liabilities. Second, ownership information might in any case not be available and would have to be provided from supervisory sources.

14. For these reasons, NCBs should follow an unconsolidated aggregated approach when calculating indicator No 5, namely they should 1. rank the balance sheet totals of reporting CIs; 2. calculate the sum of the five largest balance sheet totals and the sum of all balance sheet totals; and 3. divide the two figures. Data to be reported to the ECB should be expressed as percentages (e.g. a value of 72,4296 % should be reported as 72,4296 and not as 0,7243). Although the composition of the five largest banks may change over time, NCBs should only provide the share of the five largest CIs at a specific point in time (end-December of the reference year).

15. Indicator No 6: Herfindahl index for CIs’ total assets. Similar to the previous indicator, this refers to the concentration of banking business. NCBs should follow to the extent possible an aggregated approach. The calculation of this indicator would be completely accurate only if the individual balance sheet of each CI were available. However, as the MBS framework permits groups of CIs exceptionally to report on a consolidated basis, not all the necessary statistical information might be available (this might be the case for the Rabobank in the Netherlands). In this case, the calculation of the Herfindahl index should include the aggregated balance sheet of each CI included in the group, perhaps using the accounting information contained in the annual financial statements of these institutions. Moreover, it is possible that not all CIs in the tail report data as at year-end. In this case, data should be grossed up.

16. The Herfindhal index is obtained by summing the squares of the market shares of all the CIs in the banking sector and should be reported to the ECB according to the following formula: HI=Σi=1nXi/X2 where: n = total number of CIs in the country Xi = total assets of CIs X=Σi=1nXi = total assets of all CIs of the country.

17. Indicator No 15: Total investments of insurance companies. For the purpose of producing this indicator, an insurance company is defined as an undertaking that has received official authorisation in accordance with Article 6 of First Council Directive 73/239/EEC of 24 July 1973 on the coordination of laws, regulations and administrative provisions relating to the taking-up and pursuit of the business of direct insurance other than life assurance or Article 6 of First Council Directive 79/267/EEC of 5 March 1979 on the coordination of laws, regulations and administrative provisions relating to the taking up and pursuit of the business of direct life assurance. Reinsurance business is excluded. The information refers to the total financial assets of these companies, which is obtained by deducting the non-financial assets (such as fixed assets) from the aggregated balance sheet total. If necessary, figures should be grossed up to ensure 100 % coverage. If separate information on insurance companies is not available, this indicator can be combined with indicator No 17 Total assets under management by pension funds to form one single indicator. NCBs should flag the series if combined recording is adopted.

18. Indicator No 17: Total assets under management by pension funds. This information refers to the aggregated balance sheet totals of the so-called autonomous pension funds, i.e. separate institutional units whose main activity is pension funding; they are not insurance companies. If separate information on pension funds is not available, this indicator can be combined with indicator No 15 to form one single indicator. In this case, a nil return should be provided in respect of indicator No 17.

19. Indicator No 18: Number of branches of CIs from EEA countries. This indicator refers to the number of branches belonging to CIs resident in other EEA countries, i.e. excluding domestic branches. If a CI has more than one branch in a particular country, it is counted as one. As data collected for the purpose of the List of MFIs have only been made available to the ECB since January 1999, NCBs should provide the missing data for the end-years 1997 and 1998. NCBs should ensure that data as from end-1999 onwards are consistent with data reported in the framework of the MFI list.

20. Indicator No 19: Total assets of branches of CIs from EEA countries. This indicator refers to the aggregated balance sheet total of the branches covered by indicator No 18.

21. Indicator No 20: Number of subsidiaries of CIs from EEA countries. This indicator refers to the number of subsidiaries controlled by a CI resident in other EEA countries, i.e. excluding domestic subsidiaries. The ECB’s definition of subsidiary is contained in Regulation ECB/2001/13: Subsidiaries are separate incorporated entities in which another entity has a majority or full participation…. Not all subsidiaries should be counted, only those that are themselves CIs.

22. Indicator No 21: Total assets of subsidiaries of CIs from EEA countries. This indicator refers to the aggregated balance sheet total of the subsidiaries covered by indicator No 20.

23. Indicator No 23: Number of branches of CIs from third countries. This indicator refers to the number of resident branches belonging to CIs resident in third countries. Third countries are those not belonging to the EEA. If a bank has more than one branch in a particular country, it is counted as one. Again, NCBs should ensure that data are consistent with data reported in the framework of the MFI list.

24. Indicator No 24: Total assets of branches of CIs from third countries. This indicator refers to the aggregated balance sheet total of the branches covered by indicator No 23.

25. Indicator No 25: Number of subsidiaries of CIs from third countries. This indicator refers to the number of subsidiaries resident in their national territory that are controlled by CIs resident in third countries.

26. Indicator No 26: Total assets of subsidiaries of CIs from third countries. This indicator refers to the aggregated balance sheet total of the subsidiaries covered by indicator No 25.

Appendix 1 2.3.5.6.15.17.18.19.20.21.23.24.25.26. Reporting scheme for the 14 structural financial indicators compiled using data provided by NCBs

Country: … Reference year: … Indicator Stock Flows adjustments Deviations from definitions Number of local units (branches) of CIs n/a Number of employees of CIs n/a Share of the 5 largest CIs in total assets (CR5) n/a Herfindahl index for CIs’ total assets n/a Total investments of insurance companies Total assets under management by pension funds Number of branches of CIs from EEA countries n/a Total assets of branches of CIs from EEA countries Number of subsidiaries of CIs from EEA countries n/a Total assets of subsidiaries of CIs from EEA countries Number of branches of CIs from third countries n/a Total assets of branches of CIs from third countries Number of subsidiaries of CIs from third countries n/a Total assets of subsidiaries of CIs from third countries

The structural financial indicators key family refers to the structural indicators of credit institutions (CIs), insurance companies and pension funds sectors of the European Union (EU) Member States. It has been designed so as to draw as much as possible on the key family code lists and values already defined for balance sheet items (BSI) statistics.

Appendix 2 Electronic transmission of banking structural financial indicators — key family identifier: ECB_SSI1

Section 1. Dimensions

TABLE 1 Dimensions used in ECB_SSI1 key family The table below describes the dimensions used in the ECB_SSI1 key family. For these statistics, eight dimensions have been specified as essential to identify the time series. Position in key Concept (mnemonic) Concept name Value format Code list (mnemonic) Code list name 1 FREQ Frequency AN1 CL_FREQ Frequency code list (BIS, ECB) 2 REF_AREA Reference area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 3 REF_SECTOR ESA 95 reference sectoral breakdown AN4 CL_ESA95_SECTOR ESA 95 reference sectoral breakdown code list (ECB) 4 SSI_INDICATOR Structural financial indicator’s name AN3 CL_SSI_INDICATOR Structural financial indicator’s code list (ECB) 5 DATA_TYPE Data type AN1 CL_DATA_TYPE Money and banking type of data, flow and position (ECB, BIS) 6 COUNT_AREA Counterparty area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 7 CURRENCY_TRANS Currency of transaction AN3 CL_CURRENCY Currency code list (ECB, BIS, Eurostat BoP) 8 SERIES_DENOM Denomination of the series or special calculation AN1 CL_SERIES_DENOM Denomination of the series or special calculation code list (ECB) Each of the eight statistical dimensions takes its values from a corresponding code list. For example, according to the table above, the dimension REF_AREA (reference area) takes its values from the CL_AREA_EE code list. A description of the dimensions of the ECB_SSI1 key family is set out below, following the same sequence as they appear in the key.

Dimension No 1: Frequency (FREQ; length: one character) This dimension indicates the frequency of the reported time series. The value used in the ECB_SSI1 key family is A for annual data and is taken from the code list CL_FREQ.

Dimension No 2: Reference area (REF_AREA; length: two characters) This dimension represents the country of residence of the reporting institution. The associated code list CL_AREA_EE contains the standard ISO country list and some additional values as also described in paragraph 6 (dimension No 6: Counterparty area). The subset of values used in the ECB_SSI1 key family corresponds to the EU Member States.

Dimension No 3: ESA 95 Reference sectoral breakdown (REF_SECTOR; length: four characters) This dimension indicates the structural indicators’ reference sector and is linked to the code list CL_ESA95_SECTOR. Currently a subset of four values is used: credit institutions (as defined in Community law) (122C), insurance corporation and pension funds (1250), and separately insurance corporations (1251) and pension funds (1252).

Dimension No 4: Structural financial indicator’s name (SSI_INDICATOR; length: three characters) This dimension represents the list of indicators and is linked to the code list CL_SSI_INDICATOR. The values assigned to the different indicators are identified by a prefix. The value H is used for the Herfindhal index, the value N for all indicators represented by absolute numbers, the value S for those represented by a share and lastly the value T for total assets.

Dimension No 5: Data type (DATA_TYPE; length: one character) The dimension is described by the code list CL_DATA_TYPE and indicates the type of data to be reported: gross stocks (1), reclassifications and other adjustments (5), other revaluation adjustments (7) and not specified (X). The value X, not specified, is used to report ratios and index series, while the value 1, stocks, is used to report absolute numbers and stocks series (e.g. number of employees; total assets). Adjustments data are only applicable with reference to the BSI series, they are not applicable and are not reported for absolute numbers, ratios and indexes. Reclassifications and other adjustments comprise changes in the assets and liabilities on the balance sheet of the reporting sector arising from 1. changes in the reporting population; 2. corporate restructuring; 3. the reclassification of assets and liabilities; and 4. the correction of reporting errors which, for technical reasons, cannot be removed from the stock data for the complete relevant period. In particular, reclassifications for the year 2001 will need to cover the changes due to the entry of Greece into the euro area. Other revaluation adjustments include changes in the price of securities issued, sold or held and changes due to the removal from the balance sheet of loans subject to a write-off/write-down.

Dimension No 6: Counterparty area (COUNT_AREA; length: two characters) This dimension represents the area of residence of the counterparty of the structural indicator. The code list linked to this concept is CL_AREA_EE, which contains the standard ISO country list and additional values (e.g. U6 — Domestic: same country as that of the reporting CIs). For the purpose of the ECB_SSI1 key family the following subset of values is used: domestic (home or reference area) (U6), other European Economic Area countries (all countries excluding the reference area) (A0) and extra European Economic Area (A7) in the case of both euro area reporters and non-euro area reporters.

Dimension No 7: Currency of transaction (CURRENCY_TRANS; length: three characters) This dimension describes the currency in which the structural indicators are denominated and is linked to the code list CL_CURRENCY. In the ECB_SSI1 key family only the values Z01 for all currencies combined and Z0Z for not applicable are used.

Dimension No 8: Denomination of the series or special calculation (SERIES_DENOM; length: one character) This dimension specifies whether the reported series is expressed in national or in the common (euro) currency. This concept is only applicable to BSI series (e.g. total assets). Only three values from the code list CL_SERIES_DENOM are used in the ECB_SSI1 key family — N national currency, E euro and Z not applicable. Non-participating Member States and Greece (for the period up to and including the year 2000) will use the code N, while the code E will be used by the euro area Member States (including Greece starting in 2001). The full list of series keys to be transmitted to the ECB is reported in Appendix 3.

Section 2. The attributes

TABLE 2 TABLE 3 Structural financial indicators key family (ECB_SSI1): Coded and uncoded attributes NCBs reporting to the ECB. Common attribute properties for the ECB_SSI1 key family In addition to the eight dimensions defining the key, a set of attributes has been defined. These are attached at various levels of the exchanged information: Assignment level Statistical concept Value format Code list Attributes at sibling level (exchanged using the FNS group) Sibling TITLE_COMPL Title complement AN..1050 Uncoded Sibling UNIT Unit AN..12 CL_UNIT Unit code list (BIS, ECB, Eurostat BoP) Sibling UNIT_MULT Unit multiplier AN..2 CL_UNIT_MULT Unit multiplier code list (BIS, ECB, Eurostat BoP) Sibling DECIMALS Decimals N1 CL_DECIMALS Decimals code list (BIS, ECB) Sibling TITLE Title AN..70 Uncoded Sibling NAT_TITLE National language title AN..350 Uncoded Sibling COMPILATION Compilation AN..1050 Uncoded Sibling COVERAGE Coverage AN..350 Uncoded Attributes at time series level (exchanged using the FNS group) Time series COLLECTION Collection indicator AN1 CL_COLLECTION Collection indicator code list (BIS, ECB) Time series AVAILABILITY Availability AN1 CL_AVAILABILITY Organisation availability code list (BIS, ECB) Time series DOM_SER_IDS Domestic series ids AN..70 Uncoded Time series BREAKS Breaks AN..350 Uncoded Attributes at observation level (exchanged together with the data in the main ARR segment) Observation OBS_STATUS Observation status AN1 CL_OBS_STATUS Observation status code list (BIS, ECB, Eurostat BoP) Observation OBS_CONF Observation confidentiality AN1 CL_OBS_CONF Observation confidentiality code list (Eurostat BoP, ECB) Observation OBS_PRE_BREAK Pre-break observation value AN..15 Uncoded Observation OBS_COM Observation comment AN..350 Uncoded In addition, each of these attributes is characterised by some technical properties, which are listed in the table below. Status First value set by… Modifiable by NCBs TITLE_COMPL M ECB No UNIT M ECB No UNIT_MULT M ECB No DECIMALS M ECB No TITLE C ECB No NAT_TITLE C NCB Yes COMPILATION C NCB Yes COVERAGE C NCB Yes COLLECTION M ECB No AVAILABILITY M ECB/NCB Yes DOM_SER_IDS C NCB Yes BREAKS C NCB Yes OBS_STATUS M NCB Yes OBS_CONF C NCB Yes OBS_PRE_BREAK C NCB Yes OBS_COM C NCB/ECB Yes M: Mandatory, C: Conditional Below is a description of each attribute including the reference code list (indicated in capital letters as CL_****) whenever it applies.

TITLE_COMPL (uncoded): This attribute is set, stored and disseminated by the ECB (it will be in English with a maximum length of 1050 characters). If an NCB would like to make a modification, a revision can be made after consultation with the ECB, however, this revision will be made by the ECB.

UNIT (code list: CL_UNIT): This attribute provides the unit of measurement of the reported data. Participating Member States report the data in euro for those items where this is applicable and the ECB will set this attribute to EUR (DENOM = EUR). In the case of non-participating Member States the value of this attribute is equal to the corresponding national currency. For the series reported as absolute values and for the index the ECB will set this attribute to value UNITS, and for the series reported as percentages to the value PC.

UNIT_MULT (code list: CL_UNIT_MULT): This attribute provides information on whether the series is expressed in millions (UNIT_MULT = 6), billions (UNIT_MULT = 9), etc. NCBs report the data referring to the CIs BSI series in millions and the ECB will set the value to 6 (UNIT_MULT = 6). For the series reported as absolute numbers, as percentages, or as indexes, the ECB will set the value to 0 (UNIT_MULT = 0).

DECIMALS (code list: CL_DECIMALS): This attribute indicates the number of decimal places given for the values of the observations. NCBs report the BSI series and the series representing absolute numbers with 0 decimal places and the ECB will set the value of the attribute at 0 for these series (hence DECIMALS = 0). The index series and those representing percentages will be reported with four decimals and the ECB will set the value of the attribute to 4 for these series (hence DECIMALS = 4).

TITLE (uncoded): The series title allows only a maximum of 70 characters. In view of the limited space, the TITLE COMPLEMENT attribute is used instead as the mandatory attribute. The TITLE attribute could in the future be used for the construction of short titles.

NAT_TITLE (uncoded): NCBs may use this attribute in order to provide a precise description and other supplementary or distinguishing specifications in the national languages. Although the use of upper and lower case letters does not cause problems, the exchange of accented characters and extended alphanumeric symbols needs to be tested before regular use.

COMPILATION (uncoded): This attribute is used for detailed textual explanations of the compilation methods, weighting, statistical procedures, type of index, etc.:

data sources/data collection system,

compilation procedures (including description of estimates/assumptions made),

deviations from the ECB’s reporting instructions (geographical/sectoral classification/valuation methods),

information relating to the national legal framework (and to links to the EU regulatory framework) for intermediaries other than CIs.

COVERAGE (uncoded): This attribute describes the reporting population, and its coverage, for the different categories of intermediaries. It should describe the type of intermediary for the different indicators. If the coverage is known to be partial, an estimate of the market shares is provided. It should also indicate whether the figures have been grossed up.

COLLECTION (code list: CL_COLLECTION): This attribute provides an explanation of the time when observations are collected (e.g. beginning, middle or end of period) or an indication of whether data are averages, the highest or lowest in a given period, etc. The ECB will set the SSI series as end-of-period (COLLECTION = E).

AVAILABILITY (code list: CL_AVAILABILITY): This attribute indicates the institutions to which the data can be made available. When special treatment for specific observations is needed, the OBSERVATION CONFIDENTIALITY attribute can be used (see below).

DOM_SER_IDS (uncoded): This attribute makes it possible to refer to the code used in national databases to identify the corresponding series (formulae using national reference codes can also be specified).

BREAKS (uncoded): This attribute provides a description of breaks and major changes over time in the collection, reporting coverage and compilation of the series. In the case of breaks, it is desirable to state the extent to which old and new data may be considered comparable (up to 350 characters).

OBS_STATUS (code list: CL_OBS_STATUS): NCBs report an observation status value attached to each exchanged observation. This attribute is mandatory and must be provided with every data transmission for every individual observation. When NCBs revise the value of this attribute, both the observation value (even if unchanged) and the new observation status flag are retransmitted. The list below specifies the expected values (according to the agreed hierarchy) for these attributes for the purpose of these statistics: A normal value, B break value, M data do not exist (for non-applicable data), L data exist but are not collected, E estimated value, P provisional value (this attribute can be used, in particular, with each data transmission referring to the last observation).

If an observation is qualified by two characteristics, the most important is reported. If, for example, an observation is both a provisional value and the result of an estimate, priority is given to the estimate property, and the flag E is used.

Section 2. The attributes

Section 2.3. Attributes at observation level

Conditional: Flows adjustments data are to be reported, if available, in respect of indicators Nos 17, 19, 21, 24 and 26. Flows adjustments refer to price revaluations, write-offs, write-downs and reclassifications.

OBS_CONF (code list: CL_OBS_CONF): If an NCB wishes to differentiate between the confidentiality status of one or more specific observations, it may use the OBSERVATION CONFIDENTIALITY attribute. The value of this attribute (if any) may be modified when transmitting the data by the sender of the information.

OBS_PRE_BREAK (uncoded): This attribute contains the pre-break value, which is a numeric field like the observation. It is provided when a series break occurs.

OBS_COM (uncoded): This attribute can be used to provide textual comments at the observation level (e.g. describing the estimate or assumption made for a specific observation due to lack of data, explaining the reason for a possible abnormal observation or giving details of a change in the reported time series).

Section 3. Revision policy

NCBs may have to revise the reported data. The following general principles apply:

during all regular annual data transmissions, in addition to the latest year, both ordinary (i.e. revisions to the previous year’s data) and historical revisions can be sent;

exceptionally, historical revisions which significantly improve the quality of the data may be accepted during the year;

in the case of significant revisions, explanatory notes must be provided to the ECB.

Appendix 3 TABLE 1 TABLE 2 Stocks data Series keys for structural financial indicators Adjustments data Series keys for structural financial indicators

Indicators 1. Domestic area 2. Other EEA countries 3. Extra EEA CIs Insurance corporations and pension funds CIs CIs Total Insurance corporations Pension funds Number of employees of CIs S1 Number of branches of CIs S2 S3 S4 Number of subsidiaries of CIs S5 S6 Herfindahl index for CIs total assets (CR5) S7 Share of the 5 largest CIs in total assets S8 Total assets S9* S10 S11 Total assets of branches S12 S13 Total assets of subsidiaries S14 S15 For pre-ins and Greece before 2001, the code N is used for the currency of denomination in the last dimension of the series key instead of E. Indicators 1. Domestic area 2. Other EEA countries 3. Extra EEA CIs Insurance corporations and pension funds CIs CIs Total Insurance corporations Pension funds Reclassifications and other adjustments Total assets S16 S17 S18 Total assets of branches S19 S20 Total assets of subsidiaries S21 S22 Other revaluation adjustments Total assets S23 S24 S25 Total assets of branches S26 S27 Total assets of subsidiaries S28 S29

ANNEX III

ANNEX IX MEMORANDUM ITEMS TO BE PROVIDED Reporting scheme

1. The memorandum items listed in this Annex belong to the balance sheet items (BSI) key family, which is described in Annex XIII. The series are to be reported at monthly frequency (items of Sections I and II) or at quarterly frequency (items of Section III) and with the same timeliness as the mandatory monthly and quarterly monetary financial institution (MFI) balance sheet statistics in accordance with Regulation ECB/2003/13.

I.

Memorandum items for the derivation and assessment of the monetary aggregates and counterparts

2. For the purposes of the compilation of the monetary aggregates and the monetary union financial accounts (MUFA) of the euro area, the national central banks (NCBs) report statistical information on supplementary breakdowns of currency in circulation, debt securities issued and remaining assets/liabilities. These high priority memorandum items are shown as bold framed cells in Tables A and B and are defined below. The remaining memorandum items are needed to allow a more detailed analysis of the MFI balance sheet statistics.

3. Currency in circulation, of which euro banknotes, national denomination banknotes, coins, coins denominated in euro and coins in national denomination (M1 to M5)

Euro banknotes (M1) are euro banknotes issued as included in the item currency in circulation.

National denomination banknotes (M2) are banknotes denominated in the legacy currencies issued by NCBs before 1 January 2002 that have not yet been redeemed at the NCBs. Reported as from January 2002, at least during 2002.

Coins (M3) refers to the amount of coins in euro, issued by national authorities (NCBs/central governments) and reported as part of the item currency in circulation in the NCB’s balance sheet.

Coins denominated in euro (M4) are coins denominated in euro issued by national authorities (NCBs/central governments).

Coins in national denominations (M5) are coins denominated in the legacy currencies issued by national authorities (NCBs/central governments) before 1 January 2002 that have not yet been redeemed at the NCBs.

4. Holders of negotiable securities issued by the European Central Bank (ECB)/NCBs (M6 to M8) Debt securities issued by the ECB/NCBs that have been broken down by residency of the holder, according to the following three-way split: domestic/other participating Member States/rest of the world.

5. Accruals on deposits (M9, M38) Interest payable on deposits recorded as it accrues (i.e. on an accruals basis) rather than when it is actually paid (i.e. on a cash basis).

6. TABLE A 8————11147 TABLE B 1113147 ECB/NCBs data (stocks) Other MFIs data (stocks)

Accruals on loans (M38, M42) Interest receivable on loans recorded as it accrues (i.e. on an accruals basis) rather than when it is actually received (i.e. on a cash basis). Cells in bold are the high priority items. Domestic Other participating Member States Rest of the world Not allocated LIABILITIES Currency in circulation Of which banknotes Euro banknotes M1 National denomination banknotes M2 Of which coins M3 Coins denominated in euro M4 Coins in national denominations M5 Debt securities issued Up to 1 year M6 M7 M8 Remaining liabilities Of which accruals on deposits M9 Of which transit items M10 Of which suspense items M11 Of which financial derivatives M12 Of which intra-Eurosystem liabilities related to the allocation of euro banknotes M13 ASSETS Remaining assets Of which accruals on loans M14 Of which transit items M15 Of which suspense items M16 Of which financial derivatives M17 Of which intra-Eurosystem claims related to the allocation of euro banknotes M18 Cells in bold are the high priority items. Subject to agreement between the ECB and the NCB, cells in bold with an arrow (↑) might not be reported by the NCB where alternative data sources are used by the ECB. Domestic Other participating Member States Rest of the world Not allocated LIABILITIES Debt securities issued Up to 1 year M19 M20 M21 Euro M22↑ M23↑ M24↑ Foreign currencies M25↑ M26↑ M27↑ Over 1 and up to 2 years M28 M29 M30 Euro M31↑ M32↑ M33↑ Foreign currencies M34↑ M35↑ M36↑ Capital and reserves Of which provisions M37 Remaining liabilities Of which accruals on deposits M38 Of which transit items M39 Of which suspense items M40 Of which financial derivatives M41 ASSETS Remaining assets Of which accruals on loans M42 Of which transit items M43 Of which suspense items M44 Of which financial derivatives M45

7. Remaining assets/liabilities, of which intra-Eurosystem liabilities (item M13)/claims (item M18) related to the allocation of euro banknotes Net positions vis-à-vis the Eurosystem originated by 1. distribution of euro banknotes issued by the ECB (8 % of total issues); and 2. application of the capital share mechanism. The allocation of the individual NCB’s and ECB’s net credit or debit position to either the asset or liability side of the balance sheet is done according to the sign, i.e. a positive net position vis-à-vis the Eurosystem will be reported on the asset side, a negative net position on the liability side.

8. Holders of negotiable securities issued by other MFIs with a breakdown by maturity (items M19 to M21 and M28 to M30) and further by currency (items M22 to M27 and M31 to M36) Debt securities and money market paper issued by MFIs that have been broken down by residency of the holder according to the following three-way split: domestic/other participating Member States/rest of the world. Debt securities and money market paper data are provided with a breakdown by maturity (up to one year, over one year and up to two years) and further details by currency (euro, foreign currencies).

II.

Memorandum items to derive weighting information for MFI interest rate statistics

9. For the regular production of MFI interest rate (hereinafter MIR) statistics, weighting information is necessary to aggregate the national MIR statistics to MIR statistics for the euro area. To reduce the reporting burden on the NCBs, the decision has been taken to use as a primary source for deriving the weights for MIR statistics on outstanding amounts as well as selected MIR statistics on new business the statistical information already reported by NCBs in the context of BSI statistics.

10. On the basis of data availability according to Regulation ECB/2001/13 the weighting information for the relevant deposit categories referring to new business and outstanding amounts can be easily mapped from the MFI balance sheet statistics. However, for the loan instrument categories in the field of outstanding amounts the mandatory BSI data do not allow an exact mirroring.

11. For these loan instrument categories, the (mandatory) BSI series cover all currencies of transaction, whereas MIR statistics consider only euro-denominated loans. BSI series referring only to the euro as the currency of transaction according to Regulation ECB/2001/13 are available with the required sectoral breakdown, but with no distinction by maturity nor (within the household sector) by type of loan.

12. For these loan categories, the weighting is therefore based on the BSI series referring to all-currency loans. However, the series are adjusted for the share of euro within the total currencies of transaction.

13. TABLE C A.B. Other MFIs data (stocks)

Following bilateral contacts, a number of NCBs (to date: Belgium, Spain, France, Ireland, Italy, Luxembourg, Austria, Portugal, Finland and the Netherlands for loans to non-financial corporations) are, however, also in a position to provide the required breakdowns for euro-denominated loans. To this end, the following memorandum items have been established: Euro-denominated loans granted by other MFIs to indicated subcategories of other residents ASSETS Non-financial corp. (S.11) Households etc. (S.14+S.15) Consumer credit Housing loans Other (residual) Domestic Loans o/w Euro Up to 1 year M46 M47 M48 M49 Over 1 and up to 5 years M50 M51 M52 M53 Over 5 years M54 M55 M56 M57 Other part. MS Loans o/w Euro Up to 1 year M58 M59 M60 M61 Over 1 and up to 5 years M62 M63 M64 M65 Over 5 years M66 M67 M68 M69

III.

Memorandum items to compile MUFA

14. Money and banking statistics (MBS) memorandum items are necessary for the regular quarterly production of MUFA. Additional instrument and residency breakdowns for financial accounts purposes have to be provided with the data provided under existing MBS reporting requirements.

15. Data on stocks and transactions are required for financial accounts purposes. In order to integrate the financial accounts requirements into the MBS framework flow adjustments, i.e. reclassifications, revaluations and exchange rate adjustments, relating to the additional financial accounts series, are required.

16. TABLE D 14357 Quarterly data: NCBs/ECB/Other MFIs data (stocks)

In terms of valuation rules, any additional data required under this Section is to be reported following the same valuation and accounting rules as for the data reported in accordance with Regulation ECB/2001/13. Finally, new identification codes have been created in the context of MBS and appropriate reporting rules (e.g. in terms of timeliness) and checks have been defined in relation to other existing data. To this end, the following memorandum items have been established: Domestic Other participating Member States Rest of the world Not allocated Total Of which: central government Total Of which: central government Remaining liabilities Net equity of households in pension funds reserves M70 ASSETS Securities other than shares Up to 1 year M71 M72 M73 Of which: euro M74 M75 M76 Over 1 year M77 M78 M79 Of which: euro M80 M81 M82 Shares and other equity Quoted shares M83 M84 M85 Investment fund (not MMF) shares M86 M87 M88 Remaining assets Prepayment of insurance premiums and reserves for outstanding claims M89

17. Net equity of households in pension funds reserves (M70) Liabilities of MFIs with households in the form of technical provisions established to provide pensions for employees. This typically refers to employee pension funds that have not been externalised to an independent institution.

18. Securities other than shares Breakdowns by sector and maturity not contained in Regulation ECB/2001/13 are required. This includes holdings of securities other than shares with a maturity of up to 1 year issued by central government (Domestic M71, M74, other participating Member States M72, M75) and the rest of the world (M73, M76), and securities other than shares with a maturity of over one year issued by central government (Domestic M77, M80, other participating Member States M78, M81) and the rest of the world (M79, M82).

19. Shares and other equity Separate information, with a breakdown by residency, in respect of quoted shares and investment fund shares other than money market fund shares. Quoted shares (M83 to M85) are shares with prices quoted on a recognised stock exchange or other form of secondary market. Investment fund shares (M86 to M88), also called mutual fund shares, are shares issued in the context of an organised financial arrangement that pools investor funds for the purpose of acquiring financial or non-financial assets, excluding those included in the MFI sector.

20. Prepayment of insurance premiums and reserves for outstanding claims (M89) This item represents the part of gross premiums paid by MFIs which is to be allocated to the following accounting period plus claims by MFIs that are not yet settled.

ANNEX IV

ANNEX XIII REPORTING STANDARDS FOR THE ELECTRONIC EXCHANGE OF STATISTICAL DATA ECB BALANCE SHEET ITEMS STATISTICS KEY FAMILY IDENTIFIER: ECB_BSI1 MFI balance sheet statistics for the purpose of the production of the consolidated balance sheet

1. TABLE 1 BSI key family (ECB_BSI1): Series dimensions

The ECB_BSI1 key family and corresponding code lists The balance sheet items (BSI) key family refers to euro area harmonised balance sheet statistics reported by the monetary financial institution (MFI) sector to the European Central Bank (ECB). Data from individual MFIs (except national central banks (NCBs)) on BSIs are collected and aggregated at the national level by NCBs. The NCBs and the ECB also compute their own BSIs statistics. The BSIs statistics of the NCBs/the ECB and those of other MFIs (hereinafter OMFIs) are reported separately on a gross basis by NCBs to the ECB which, in turn, first builds the country-by-country aggregated balance sheet of the MFI sector and then the euro area consolidated balance sheet of the MFI sector and the relevant euro area monetary aggregates. Consolidated monthly data on the MFI sector balance sheet are used by the ECB to compile euro area monetary aggregates and counterparts. Further breakdowns of key BSIs are reported on a quarterly basis as an additional piece of information to support the monetary analysis. The dimensions and attributes identified for the BSI key family are described in detail below. For BSI statistics, 11 dimensions are specified as being essential in order to identify the time series: Position in key: Concept (mnemonic) Concept name Value format Code list (mnemonic) Code list name Dimensions 1 FREQ Frequency AN1 CL_FREQ Frequency code list (BIS, ECB) 2 REF_AREA Reference area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 3 ADJUSTMENT Adjustment indicator AN1 CL_ADJUSTMENT Adjustment indicator code list (BIS, ECB) 4 BS_REP_SECTOR Balance sheet reference sector breakdown AN1 CL_BS_REP_SECTOR Balance sheet reference sector breakdown code list (ECB) 5 BS_ITEM Balance sheet item AN3 CL_BS_ITEM Balance sheet item code list (ECB) 6 MATURITY_ORIG Original maturity AN1 CL_MATURITY_ORIG Original maturity code list (ECB) 7 DATA_TYPE Data type AN1 CL_DATA_TYPE Money and banking type of data, flow and position (ECB, BIS) 8 COUNT_AREA Counterparty area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 9 BS_COUNT_SECTOR Balance sheet counterparty sector AN4 CL_BS_COUNT_SECTOR Balance sheet counterparty sector code list (ECB, BIS) 10 CURRENCY_TRANS Currency of transaction AN3 CL_CURRENCY Currency code list (ECB, BIS, Eurostat BoP) 11 BS_SUFFIX Balance sheet suffix AN..3 CL_BS_SUFFIX Denomination of the series or special calculation code list (ECB) These dimensions are statistical concepts that take their values from code lists. In some rare cases the description of the coded values in the code lists may not correspond exactly to the agreed wording of Regulation ECB/2001/13. This is the case when a code list, or a subset of its values, is an internationally agreed list which already exists (e.g. the residence of the counterparty). The same key family enables representation of a supplementary set of data requested for the compilation of the euro area monetary aggregates: the central government assets and (close substitutes of) deposit liabilities, presented in Annex VII.

2. Dimensions

A description of the dimensions of the BSI key family is set out below, following the same sequence in which they appear in the series key. Information is also given concerning the length (value format, indicating the number of characters) of each dimension and the reference code list (indicated in capital letters as CL_****). For example, according to Table 1, the dimension REF_AREA (reference area) takes its values from the CL_AREA_EE code list.

2.

2.1. Dimension No 1: Frequency (FREQ; length: one character) This dimension indicates the frequency of the reported series. The code list used is CL_FREQ. The code values used in the BSI key family are M for monthly data and Q for quarterly data, and they are a subset of the values specified in this code list.

2.2. Dimension No 2: Reference area (REF_AREA; length: two characters) This dimension represents the country of residence of the reporting institutions (MFIs). The associated code list CL_AREA_EE contains the standard ISO country list and also some additional code values as described in Section 2.8 (dimension No 8: Counterparty area). Only a subset of its values is used to define the reference area in the BSI key family.

2.3. Dimension No 3: Adjustment indicator (ADJUSTMENT; length: one character) This dimension indicates whether a seasonal adjustment and/or a working day adjustment have been applied. The corresponding code list is CL_ADJUSTMENT. The code values currently used in the BSI key family are N for neither seasonally nor working day adjusted and Y for working day and seasonally adjusted.

2.4. Dimension No 4: Balance sheet reference sector breakdown (BS_REP_SECTOR; length: one character) This dimension indicates the reporting sector and is linked to the code list CL_BS_REP_SECTOR. In this code list MFIs are divided into NCBs/ECB (N) and OMFIs (credit institutions, money market funds and other institutions) (A), in consideration of the separate balance sheets which the ECB consolidates. In consideration of the request for data on deposit liabilities and assets of the central government, the code value G for central government is used. Other code values are also included in this code list for the purpose of calculating and disseminating euro area monetary aggregates series by the ECB.

2.5. Dimension No 5: Balance sheet item (BS_ITEM; length: three characters) This dimension represents the BSI of the MFI balance sheet as defined in Regulation ECB/2001/13, and takes its values from the code list CL_BS_ITEM. This is the core dimension of the BSI key family. Code values of assets and liabilities are identified by the prefix A or L and, also in this case, the values are organised and coded following, wherever possible, a hierarchical relation among the items. Additional BSIs specific to NCBs (and the ECB) are identified by the letter C, after the prefix A for assets and after the prefix L for liabilities.

2.6. Dimension No 6: Original maturity (MATURITY_ORIG; length: one character) This dimension represents the original maturity of the BSI in the MFI balance sheet and is linked to the code list CL_MATURITY_ORIG.

2.7. Dimension No 7: Data type (DATA_TYPE; length: one character) The dimension is described by the code list CL_DATA_TYPE and indicates the type of data to be reported: outstanding amounts at the end of the period (stocks) (1), reclassifications and other adjustments (5), exchange rate changes (6) and other adjustments (7) (other revaluations and loan write-off/write-down). Other code values have been defined to allow for the derivation of flows from the stocks and the appropriate adjustments and for the calculation of the index of notional stocks used for the derivation of annual growth rates. These additional code values are used by the ECB for the dissemination of the euro area aggregates.

2.8. Dimension No 8: Counterparty area (COUNT_AREA; length: two characters) This dimension represents the area of residence of the counterparty of the MFI BSI. The code list associated with this concept is CL_AREA_EE, which contains the standard ISO country list and additional code values used specifically for the euro area (e.g. U6 — domestic — used when the counterparty area is the same country as the reporting MFI). For the BSI statistics a subset of code values is used: the European Union (EU) Member States codes plus some additional area codes.

2.9. Dimension No 9: Balance sheet counterparty sector (BS_COUNT_SECTOR; length: four characters) This dimension represents the sectoral breakdown of the counterparty of BSIs and is linked to the code list CL_BS_COUNT_SECT. This code list is taken strictly from the sectoral breakdown requirement for BSIs set out in the first place in Regulation ECB/1998/16 of 1 December 1998 concerning the consolidated balance sheet of the monetary financial institutions sector and then in Regulation ECB/2001/13. The values are organised and coded according to the hierarchical structure of the sectors with the aim of being user oriented and providing a tool for easy administration of the data. For Tables 2 and 4 of Annex I to Regulation ECB/2001/13, the split banks/non-banks, when applied to counterparties resident in non-participating Member States, corresponds to the breakdown MFIs/non-MFIs, as specified in the said Regulation. In Table 3 the split MFIs/non-MFIs is used instead to classify counterparties resident in non-participating Member States.

2.10. Dimension No 10: Currency of transaction (CURRENCY_TRANS; length: three characters) This dimension describes the currency in which the MFI BSIs are denominated and is linked to the code list CL_CURRENCY. For MFI BSIs a subset of code values is used.

2.11. Dimension No 11: Currency of denomination of the series (BS_SUFFIX; length: up to three characters) This dimension specifies whether the reported series is expressed in national or in the common (euro) currency. It has two values (N, national and E, euro) that are represented by the code list CL_BS_SUFFIX. This dimension is critical to differentiate the series representing the same economic phenomenon which are reported in the different stages of economic and monetary union (EMU). For example, for the EU countries that are not members of the EMU, data are reported in the national currency. As from the time they join the EMU, the same BSI series will be expressed and reported in euro.

3. The attributes

3.

TABLE 2 TABLE 3 Coded and uncoded attributes defined for the ECB_BSI1 key family Common attributes properties for the ECB_BSI1 key family: Euro area NCBs reporting to the ECB

In addition to the 11 dimensions defining the key, a set of attributes has been defined. These are attached at various levels of the exchanged information. Table 2 reports the list of coded and uncoded attributes defined for the BSI statistics key family, together with their level of assignment, the format and the code lists from which the values of the coded attributes are taken. Furthermore, each of these attributes is characterised by certain technical properties, which are listed in Table 3. Assignment level Statistical concept Format Code list Attributes at sibling level (exchanged using the FNS group) Sibling TITLE Title AN..70 Uncoded Sibling UNIT Unit AN..12 CL_UNIT Unit code list (BIS, ECB, Eurostat BoP) Sibling UNIT_MULT Unit multiplier AN..2 CL_UNIT_MULT Unit multiplier code list (BIS, ECB, Eurostat BoP) Sibling DECIMALS Decimals AN1 CL_DECIMALS Decimals code list (BIS, ECB) Sibling TITLE_COMPL Title complement AN..1050 Uncoded Sibling NAT_TITLE National language title AN..350 Uncoded Sibling COMPILATION Compilation AN..1050 Uncoded Attributes at time series level (exchanged using the FNS group) Time series COLLECTION Collection indicator AN1 CL_COLLECTION Collection indicator code list (BIS, ECB) Time series AVAILABILITY Availability AN1 CL_AVAILABILITY Organisation availability code list (BIS, ECB) Time series DOM_SER_IDS Domestic series ids AN..70 Uncoded Time series UNIT_INDEX_BASE Unit index base AN..35 Uncoded Time series BREAKS Breaks AN..350 Uncoded Attributes at observation level (exchanged together with the data in the main ARR segment except for OBS_COM exchanged within the FNS group) Observation OBS_STATUS Observation status AN1 CL_OBS_STATUS Observation status code list (BIS, ECB, Eurostat BoP) Observation OBS_CONF Observation confidentiality AN1 CL_OBS_CONF Observation confidentiality code list (Eurostat BoP, ECB) Observation OBS_PRE_BREAK Pre-break observation value AN..15 Uncoded Observation OBS_COM Observation comment AN..350 Uncoded Status First value set by… Modifiable by NCBs TITLE_COMPL M ECB No UNIT M ECB No UNIT_MULT M ECB No DECIMALS M ECB No TITLE C ECB No NAT_TITLE C NCB Yes COMPILATION C NCB Yes COLLECTION M ECB No AVAILABILITY M ECB/NCB Yes DOM_SER_IDS C NCB Yes UNIT_INDEX_BASE C ECB No BREAKS C NCB Yes OBS_STATUS M NCB Yes OBS_CONF C NCB Yes OBS_PRE_BREAK C NCB Yes OBS_COM C NCB Yes M: Mandatory, C: Conditional Paragraphs 3.1, 3.2 and 3.3 present a description of each attribute, the reference code list (indicated in capital letters as CL_****) is included whenever it applies.

3.1. Attributes at sibling level

TITLE_COMPL (uncoded): The title complement attribute is set, stored and disseminated by the ECB (it is in English with a maximum length of 1050 characters). If an NCB would like to make a modification, this can be made after consultation with the ECB. The revision will be implemented by the ECB.

UNIT (code list: CL_UNIT): This attribute provides the unit of measurement of the reported data. Euro area Member States report the data in euro and the ECB will set this attribute to euro (UNIT = EUR). In the case of non-participating Member States the value of this attribute is equal to the corresponding national currency.

UNIT_MULT (code list: CL_UNIT_MULT): The unit multiplier attribute provides information on whether the series is expressed in millions (UNIT_MULT = 6), billions (UNIT_MULT = 9) etc. NCBs report data in millions and the ECB will set the value to 6 (UNIT_MULT = 6).

DECIMALS (code list: CL_DECIMALS): This attribute indicates the number of decimals given for the values of the observations. NCBs report the data with zero decimal digits, as specified in Regulation ECB/2001/13 (hence DECIMALS = 0). The ECB will set the appropriate values of this attribute.

TITLE (uncoded): The series title allows only a maximum of 70 characters. In view of the limited space, the title complement attribute is used instead as the mandatory attribute. The title attribute could in the future be used for the construction of short titles, and would be stored and disseminated by the ECB.

NAT_TITLE (uncoded): NCBs may use the national title attribute in order to provide a precise description and other supplementary or distinguishing specifications in their national language (text up to 350 characters). It may be set and modified by NCBs at any time. Although the use of upper and lower case letters does not cause problems, NCBs are asked to limit themselves to the Latin-1 character set.

COMPILATION (uncoded): This attribute is used for any textual explanation of the compilation methods used, particularly if they diverge from the ECB rules and standards (text up to 1050 characters).

3.2. Attributes at time series level

COLLECTION (code list: CL_COLLECTION): This attribute provides an explanation of the time when observations are collected (e.g. beginning, middle or end of period) or an indication of whether data are averages over the period or end-of-period observations. The ECB sets the collection attribute for BSI statistics to E end-of-period (COLLECTION = E) for stock series and to S summed through period (COLLECTION = S) for adjustment and flows series.

AVAILABILITY (code list: CL_AVAILABILITY): This attribute indicates the institutions to which the data can be made available. When special treatment for specific observations is needed, the observation confidentiality attribute can be used (see below).

DOM_SER_IDS (uncoded): This attribute makes it possible to refer to the code used in national databases to identify the corresponding series (formulae using national reference codes can also be specified). It may be sent and modified by a reporting NCB at any time (text up to 70 characters).

UNIT_INDEX_BASE (uncoded): This attribute indicates the base reference and the base value for indices. The value is only used for the series of the index of notional stocks derived by the ECB and disseminated to the European System of Central Banks. For this purpose it was initially set by the ECB to Index Dec98=100 and was changed to Index Dec01=100 on the occasion of the dissemination by the ECB of October 2002 data.

BREAKS (uncoded): This attribute provides a description of breaks and major changes over time in the collection, reporting coverage and compilation of the series. In the case of breaks, it is desirable to state the extent to which old and new data may be considered comparable (text up to 350 characters).

3.3. Attributes at observation level

3.3. Mandatory:

In normal circumstances, numeric values should be reported with the observation status A (normal value) attached. Otherwise, a value different from A is given according to the list shown above. If an observation is qualified by two characteristics, the most important is reported. If, for example, an observation is both an estimate and a provisional value, according to the hierarchy shown above, priority is given to the estimate property and the flag E is used.

OBS_STATUS (code list: CL_OBS_STATUS): NCBs report an observation status value attached to each exchanged observation. This attribute is mandatory and must be provided with every data transmission for every individual observation. When NCBs revise the value of this attribute, both the observation value (even if unchanged) and the new observation status flag are reported. The list below specifies the expected (according to the agreed hierarchy) values for these attributes for the purpose of the BSI statistics: A normal value (default for non-missing observations), M missing value, data do not exist (for non-applicable data), L missing value, data exist but were not collected, E estimated value, P provisional value (this value can be used, in each data transmission, with reference to the last observation available, if this is considered provisional).

OBS_CONF (code list: CL_OBS_CONF): If an NCB wishes to differentiate between the confidentiality status of one or more specific observations, it may use the observation confidentiality attribute. The value of this attribute (if any) may be modified with the data transmission by the sender of the information. When this attribute is not set, no confidentiality restriction (OBS_CONF = F, free) is assumed.

OBS_PRE_BREAK (uncoded): This attribute contains the pre-break observation value, which is a numeric field like the observation. In general it is provided when a break occurs. For the purpose of the BSI key family, this attribute is not requested since this information is already available from the reclassification series. It has been added to the list of attributes since it is part of the common subset of attributes for all key families.

OBS_COM (uncoded): The observation comment attribute can be used to provide textual comments at the observation level (e.g. describing the estimate made for a specific observation due to lack of data, explaining the reason for a possible abnormal observation or giving details of a change in the reported time series). This attribute may be sent or revised by a reporting NCB at any time (text up to 350 characters).

4. Missing values and provisional values Missing values (-) are reported when it is not possible to report a numeric value (e.g. owing to holidays, non-existent data or because data were not collected). Moreover, it is possible to differentiate between cases of missing values due to the lack of statistical collection on the phenomenon and those due to the fact that the phenomenon does not exist. A missing observation should never be reported as a zero, since zero is a normal numeric value that indicates a precise transaction of null amount. If NCBs are unable to identify the exact reason for a missing value or if they cannot use the whole range of values presented in the CL_OBS_STATUS code list (so that they are not in a position to choose between L or M as a value for this attribute), the value M should be used. Provisional values can be reported with each data transmission but only with reference to the last observation available (observation status = P). These observations can take definite values (observation status = A) at a later stage. At that time the new revised values overwrite the previous provisional observations and no record of the revision is stored in the ECB database.

When, owing to local statistical conditions, data for a time series are not collected either on specific dates or for the total length of the time series (the underlying economic phenomenon exists, but is not monitored statistically), a missing value is reported (-) with observation status L in each period.

When, owing to local market practices or to the legal/economic framework, a time series (or part of it) is not applicable (the underlying phenomenon does not exist), a missing value is reported (-) with observation status M.

5. Statistical requirements

According to Regulation ECB/2001/13, the NCBs report to the ECB monthly statistical information on the balance sheet of the OMFIs and the NCB sectors separately identified, for the purpose of the regular production of the consolidated balance sheet of the MFI sector. These requirements cover end-month stocks and monthly flow adjustments data. Further details on certain items of the OMFIs and NCB balance sheet are reported with a quarterly frequency in terms of stock data. Furthermore, this Guideline indicates some additional data requirements for the purpose of the regular production of euro area monetary aggregates. The ECB maintains and distributes to the NCBs tables containing lists of BSI time series to be exchanged with reference to the requirements set out in Regulation ECB/2001/13, and in accordance with this Guideline. The following sets of series are reported by the NCBs to the ECB.

5.

5.1. Stock data

5.1.

(a) Table 1 — OMFIs and NCBs/ECB monthly series As described in Regulation ECB/2001/13, Table 1 of Annex I, Part 2, a set of monthly time series on the balance sheet of the MFI sector will be reported, separately for NCBs/ECB and OMFIs balance sheet data, to the ECB.

(b) Tables 2, 3 and 4 — OMFIs and NCBs/ECB quarterly series Tables 2, 3 and 4 of Regulation ECB/2001/13, present a set of time series to be regularly reported to the ECB at a quarterly frequency, which refer to more detailed breakdowns for some of the items of the monthly balance sheet of the OMFI and NCB/ECB sectors. In particular, Table 2 refers to the sectoral breakdowns of deposits, loans, securities other than shares and shares and other equities that are not reported under Table 1. Table 3 represents the EU Member States country breakdown of total deposits, loans, securities other than shares, money market fund shares/units and shares and other equities. And finally Table 4 refers to the currency breakdown of total deposits, debt securities issued, loans and securities other than shares, by the other EU Member States’ and some non-EU countries’ currencies.

(c) Central government (close substitutes for) deposit liabilities and holdings of cash and securities — monthly series For the purpose of the derivation of euro area monetary aggregates, additional statistical information on the monetary liabilities and holdings of cash and securities of the central government are also reported by the NCBs to the ECB on a monthly basis, as stated in Annex VII. Where the phenomenon does not exist or is insignificant, no reporting is required on de minimis grounds. In this case the NCBs should inform the ECB in advance and send, before the first data transmission, the list of applicable series that will be regularly reported.

(d) Memorandum items — OMFIs and NCBs/ECB A set of monthly time series for the OMFI and NCB/ECB sectors has been identified in Annex IX as necessary to monitor the developments of some additional breakdowns of the main MFIs’ BSI series. These series are reported to the ECB as memorandum items and are classified in two blocks according to their level of relevance: high priority memorandum items and low priority memorandum items. Where the phenomenon does not exist or data are not available, no reporting is required. In this case the NCBs should inform the ECB in advance and send, before the first data transmission, the list of applicable series that will be regularly reported.

(e) Memorandum items to derive weighting information for MFI interest rates — OMFIs monthly series For the purposes of the regular production of MFI interest rate (hereinafter MIR) statistics, weighting information is necessary to aggregate the national MIR to MIR statistics for the euro area. For this purpose appropriate memorandum items have been established in Annex IX, for those NCBs that may be in a position to provide the required breakdowns. Starting with the reference period January 2003, these (stock) series will be reported with the same timeliness as the corresponding aggregate series included in Table 1 of Regulation ECB/2001/13.

5.2. Adjustments data As stated in Regulation ECB/2001/13, additional statistical information is required to derive flows statistics, and in particular data on write-offs/write-downs of loans and on price revaluations of securities are reported with a monthly frequency by the NCBs to the ECB. Furthermore, this Guideline sets out additional data requirements for monthly and quarterly reclassification adjustment series and for revaluation adjustment series to be reported by the NCBs to the ECB.

5.2.

(a) OMFIs and NCBs/ECB monthly series As described in Regulation ECB/2001/13. Table 1A of Annex 1, Part 2, a set of monthly revaluation adjustment series on the balance sheet of the MFI sector will be reported, separately for NCBs/ECB and OMFIs balance sheet data, to the ECB. In particular, the series reported in Table 1A as minimum series are also reported to the ECB on a monthly basis for control purposes, in addition to the regular reporting of the corresponding breakdown series. In addition, a set of monthly reclassification series is also reported for all times series included under Table 1 of Regulation ECB/2001/13, in accordance with Annex X. On the basis of the stock data reported by the NCBs, the ECB calculates the exchange rate adjustment and the flow series of the financial transactions for the MFI BSIs.

(b) OMFIs and NCBs/ECB quarterly series On the basis of the requirements set out in this Guideline and following the changes to requirements for quarterly stock data introduced by Regulation ECB/2001/13, a set of quarterly adjustment series has been identified. Therefore, adjustments data are requested for the quarterly series included in Table 2 of the Regulation, as described in Annex X.

(c) Central government deposits, liabilities and holdings of cash and securities — monthly series For the purpose of compiling flows statistics, adjustments data are also supplied on the monetary liabilities and holdings of cash and securities of the central government in accordance with the requirements established for the MFI balance sheet statistics, as stated in Annex X. Even though changes other than transactions are unlikely to occur, adjustments data should always be reported when the corresponding stock series are applicable and are included in the regular data transmission to the ECB.

(d) Memorandum items — OMFIs and NCBs/ECB monthly and quarterly series A set of monthly and quarterly memorandum items adjustment series is reported by the NCBs/ECB to the ECB with reference to those OMFIs and NCB/ECB stock series that are defined as high priority memorandum items. These are described in detail in Annex X. Adjustment data should always be reported when corresponding stock data are applicable and/or available, and when they are included in the regular data transmission to the ECB.

6. Data reporting

All statistical returns contain the amount of data specified in the relevant tables included in Regulation ECB/2001/13, or in this Guideline irrespective of the actual existence of the underlying phenomenon, with the exception of memorandum items series. This means that if a time series is not applicable it is still reported (in all data transmissions) and the values indicate missing data (-), as described in Section 4. For example currency in circulation for OMFIs reporting must be supplied with numeric values or -, as appropriate. The only exception is where a whole sector does not exist in which case no data need to be provided for this sector (i.e. central government series).

6.

6.1. Timeliness The NCBs report to the ECB the monthly balance sheet stock and adjustments data of the OMFI and the NCBs/ECB sectors, separately identified, by close of business on the fifteenth working day following the end of the month to which the data relate. Quarterly statistics are transmitted by the NCBs to the ECB by close of business on the twenty-eighth working day following the end of the month to which they relate.

6.2. TABLE 4 Balance sheet items — change in timeliness: implementation for stock data

Specific data reporting issues From quarterly reporting to monthly reporting One of the changes introduced by Regulation ECB/2001/13 concerns the reporting on a monthly basis of some BSI series that were previously reported on a quarterly basis according to Regulation ECB/1998/16. For the series subject to a change in the reporting timeliness, some additional instructions are provided in Table 4. Regarding the reporting of historical data and revisions to periods prior to January 2003, these should always be sent as monthly series. The revisions concerning the quarterly series should be sent as monthly data with reference to the last month of the quarter to which they refer, using the monthly series keys. As for the reporting of historical data prior to January 2003, these are reported on a voluntary basis when available and flagged as appropriate through the use of the observation status and observation comment attributes. Historical data that are the result of estimates can be sent as estimates and appropriately flagged. In this case, a description of the methods of estimation should also be provided on the occasion of the first data transmission. New monthly series Timeliness Validity Reporting Up to As from Previously reported on a quarterly basis Q December 2002 data Revisions: reported using the monthly series keys with reference to the last month of the quarter to which the data refer M As from January 2003 data Historical data: reporting of monthly data subject to their availability

6.3. Validation rules In accordance with the minimum standards for the statistical reporting requirements of the ECB, as presented in Annex IV to Regulation ECB/2001/13, two general checking areas have been identified. The first refers to linear relations, for which the mathematical result must hold and be maintained at every transmission. Accordingly, all the linear constraints between the BSIs must be fulfilled (balance sheets must balance, subtotals must add up to totals and they should not exceed the value of the total series). When the data do not fulfil one or more equations imposed, NCBs will be asked to check and revise their data. The ECB maintains and distributes to the NCBs tables containing the equations used for the linear checks. The second focuses on qualitative checks, the results of which may require investigation by NCBs. In particular, for each BSI the absolute and the percentage changes between intertemporal values may identify outliers or breaks in the time series as they are regularly monitored by the ECB. The reporting of zero values, negative values and missing values is also monitored on a regular basis. NCBs may be asked to give written explanations on the findings of the quality checks. The two sets of checks are implemented by the ECB as part of the regular data reception procedures.

7. Revision policy NCBs may have to revise the data referring to the previous reference month (ordinary revisions). In addition, revisions arising from, for example, mistakes, reclassifications, improved reporting procedures, etc., and referring to data prior to the previous reference month (exceptional revisions) may also occur. The Money and Banking Statistics Compilation Guide sets the principles to which the revision policy should conform. In particular: In addition to the above, in view of the need to ensure a good balance between the quality of monetary statistics and their stability, and in order to enhance the consistency between the monthly and the quarterly returns, it is recommended that exceptional revisions to the monthly data are submitted at the time of the submission of the quarterly returns. It must be noted that, when exceptional and ordinary revisions and updates are reported in the same data file, all data are processed simultaneously. Otherwise, if exceptional revisions are reported separately during the production period, after updates and ordinary revisions have been transmitted, the ECB may decide to postpone the processing and storage of these data until after the production period. In fact, although the ECB is technically capable of processing data files (containing exceptional/ordinary revisions and/or updates) as soon as they arrive at its gateway, exceptional revisions which come in during the production period may hamper the regular data processing and so delay the whole process of producing euro area aggregates. However, if incoming exceptional revisions could improve the significance of the data at the euro area level, or correct notable mistakes, these revisions may also be accepted during the production period.

7.

(a) NCBs should not systematically revise the data for the period prior to the previous reference month. Should such revisions however take place, they are defined as exceptional revisions and the ECB will require an explanatory note;

(b) in general, significant revisions not due to grossing up or to minor routine revisions are to be explained to the ECB by means of explanatory notes;

(c) in transmitting revised data, NCBs must take into consideration the established timeliness of regular reporting so as not to clash with the regular production period. Exceptional revisions should be transmitted only outside the regular production cycle;

(d) in general exceptional revisions will only be taken on board if satisfactory explanations are provided.

8. Return information to NCB The ECB maintains and distributes to the NCBs tables describing the statistical series that will be returned to the NCBs.

ANNEX V

ANNEX XVIII STATISTICS ON OTHER FINANCIAL INTERMEDIARIES EXCEPT INSURANCE CORPORATIONS AND PENSION FUNDS REPORTING INSTRUCTIONS FOR THE COMPILATION OF STATISTICS FOLLOWING A SHORT-TERM APPROACH

1. Objective The requirement for statistical information on other financial intermediaries except insurance corporations and pension funds (hereinafter OFIs) is twofold. Firstly, it is important to collect data on OFIs in order to monitor their role in financial intermediation outside the monetary and financial institutions (MFIs) sector. Activities undertaken by OFIs are similar and complementary to those undertaken by MFIs and, in particular, given that for European Central Bank (ECB) statistical purposes balance sheet data on OFIs totally or partially owned by MFIs are not included in the MFIs’ balance sheets, it is necessary to collect statistical data relating to OFIs in order to complete the statistical picture of the euro area. Secondly, the ECB needs to monitor OFIs in order to ensure that the list of MFIs remains up to date, accurate, as homogeneous as possible and sufficiently stable for statistical purposes. As mentioned in Regulation ECB/2001/13, financial innovation might affect the characteristics of financial instruments and induce OFIs to change the focus of their business. The aim of this Annex is to provide guidance on the completion of the reporting forms for the transmission to the ECB of data relating to OFIs.

2. Compilation of euro area aggregates and type of statistical data to be provided

2.

2.1. Compilation of euro area aggregates The transmission of data relating to OFIs is to be done following a short-term approach, that is, on the basis of currently available data at national level. It follows that statistical information to be provided might not always be fully available in accordance with the definitions and specifications outlined below. In cases where the reported data deviate from the definitions set out in this Annex, national central banks (NCBs) are requested to provide explanatory notes to the ECB. In accordance with this approach, and on the basis of the conceptual framework outlined below, NCBs should provide actual data where currently available. Where actual data are not available or cannot be processed, national estimates should be provided. As a fallback solution, in respect of certain specific breakdowns where national estimates cannot be provided, the ECB may make estimates/assumptions on a case-by-case basis. In view of the additional burden that the computation of national estimates would place on NCBs, efforts should be mainly concentrated on a limited number of key statistical data. Indeed, the short-term approach aims to concentrate efforts on one specific subcategory of OFIs (see Section 3.2.a): investment funds. No specific additional efforts are required for the provision of data in respect of security and derivative dealers (SDDs), financial corporations engaged in lending (hereinafter FCLs) or other OFIs (residual), in the case that actual data are not collected at national level.

2.2. Type of statistical data to be provided Two types of indicators should be provided: key indicators and supplementary information

Key indicators to be transmitted for the compilation of euro area aggregates. All participating Member States should transmit these detailed data when actual data are available. When no actual data are available for the required breakdowns or for the agreed frequency, timeliness or time range, estimates should be provided if feasible.

Supplementary information to be transmitted as memo items. These data should be transmitted by countries for which further detail is currently available. They refer to breakdowns for which users have expressed a requirement and in respect of which the compilation of an euro area aggregate was initially not deemed feasible.

3. Conceptual framework

3.

3.1. Reporting population The European system of national and regional accounts (hereinafter the ESA 95) defines OFIs (S.123) as non-monetary financial corporations and quasi-corporations (excluding insurance corporations and pension funds) principally engaged in financial intermediation by incurring liabilities in forms other than currency, deposits and/or close substitute for deposits from institutional units other than MFIs. The borderline with MFIs is determined by the non-existence of liabilities in the form of deposits held by non-MFIs, while the borderline with pension funds and insurance corporations is determined by the non-existence of liabilities in the form of insurance technical reserves. The reporting population for the short-term approach will comprise all types of OFIs resident in the participating Member States. The term resident is as defined in Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank. Hence, the reporting population comprises:

institutions located in the territory, including subsidiaries of parent companies located outside that territory, and

resident branches of institutions that have their head office outside that territory.

3.2. Classification of subcategories of OFIs In view of the heterogeneity of the activities undertaken by OFIs and differences in the availability of data by type of OFIs, four subcategories of OFIs have been identified for which data should be separately transmitted: 1. investment funds (except money market funds (MMFs)); 2. SDDs; 3. FCLs; and 4. other OFIs. Differences in the statistical details required will be outlined in this document. The categories/groupings on the basis of which data should be provided are listed and defined below:

3.2.

(a) Investment funds, except MMFs Investment funds are organised financial arrangements that pool investor funds for the purpose of acquiring financial or non-financial assets. Investment funds classified as OFIs include all types of investment funds except those included in the MFI sector. They can have different legal structures (contractual, corporate and unit trusts) and can be open or closed-end. Furthermore, they may be established either as an individual fund or as an umbrella fund (multiple compartment fund comprising various subfunds). Data in respect of investment funds should be provided for: Total investment funds: Data to be provided for total investment funds should cover all types of investment funds operating in the country. Key indicators and also a number of memo items should be provided. Investment funds by type: Data to be transmitted should provide a breakdown by type of investment fund:

Investment funds broken down by type of investment: Data for investment funds by type of investment are to be separately reported for 1. equity funds; 2. bond funds; 3. mixed funds; 4. real estate funds; and 5. other funds. In principle, investment funds by type of investment are to be classified according to the type of asset in which the investment portfolio is primarily invested. If the investment portfolio is primarily invested in shares and other equity, funds should be allocated to the equity funds category; if in debt securities, to the bond funds category; and if in real estate, to the real estate funds category. Funds investing in both equity and bonds with no prevalent policy in favour of one or the other instrument should be allocated to the mixed funds category. Where no classification in the above categories is feasible, funds should be included in the residual category other funds. With respect to the funds of funds (funds investing primarily in investment fund shares), the guidance is to allocate them in the category of funds in which they primarily invest. If this allocation is not deemed feasible, funds of funds should be allocated in the residual category other funds. The criteria for classifying investment funds by type are derived from the public prospectus, fund rules, instruments of incorporation, established statutes or by-laws, subscription documents or investment contracts, marketing documents, or any other statement with similar effects. At a later stage, consideration may also be given to collecting data relating to the number of investment funds broken down by type of investment.

Investment funds broken down by type of investor: Data for investment funds broken down by type of investor are to be reported for 1. general public funds the units/shares of which are sold to the public; and 2. special investors funds the units/shares of which are reserved for certain types of investors. Data for these types of funds should only be reported as memo items.

(b) Security and derivative dealers SDDs, classified as OFIs, are financial corporations principally engaged in the following financial intermediation activities: With respect to SDDs, key indicators should be provided. Details on the breakdown to be provided are illustrated in this Annex.

trading of securities on their own account, through the acquisition and sale of those securities for the account and risk of the intermediary for the exclusive purpose of benefiting from the margin between the acquisition and selling price,

trading on their own account, through a financial intermediary authorised to operate on the stock market, or on other organised markets.

(c) Financial corporations engaged in lending These financial corporations, classified as OFIs, are principally specialised in asset financing for households and non-financial corporations. Corporations specialising in financial leasing, factoring, mortgage lending and consumer lending are to be included in this category. These financial corporations may operate under the legal form of a building society, municipal credit institution, financial vehicle corporation created to be a holder of securitised assets, etc. With respect to FCLs, key indicators should be provided. Specific details on the breakdowns to be provided are given in this Annex.

(d) Other categories of OFIs Financial corporations included in this residual category are other types of financial corporations that do not specialise in any of the areas of activities that apply to the other three OFI categories. For example, corporations such as financial holding corporations, venture capital companies or development capital companies are to be included in this category. NCBs are required to specify the types of institutions allocated to this category in the explanatory notes provided. With respect to this subcategory of OFIs, only total assets is required as a memo item.

4. Statistical reporting requirements

4.

4.1. Balance sheet items

4.1. Overview of the instrument and maturity breakdown Additional requirements for the purposes of MUFA compilation

The compilation of key statistical indicators for the OFI sector requires a specific financial instrument breakdown. To the extent possible, instrument, geographical and sectoral breakdowns follow the reporting scheme defined for the MFI sector. However, the breakdown is in practice less detailed than the breakdown required for the MFI balance sheet statistics. Furthermore, in view of the heterogeneity of the activities undertaken by financial corporations classified as OFIs and in view of the differences in current availability of data by subcategory of OFIs, the balance sheet breakdowns required vary according to the type of OFI subcategory. Instrument and maturity breakdown: The table below provides an overview of the required instrument breakdown by type of OFI subcategory. Specifications to these instrument breakdowns are described in the paragraphs below. In principle, the instrument breakdown is to be provided as key indicators for all subcategories of OFIs (except for investment funds by type of investors and other OFIs). A Investment funds B SDDs C FCLs D Other OFIs INSTRUMENT AND MATURITY CATEGORIES ASSETS LIABILITIES Total assets = Total liabilities (reported by all categories) Additional requirements for the purposes of compiling monetary union financial accounts (MUFA): The table below provides an overview of the required additional instrument breakdown. Specifications regarding this instrument breakdown are described in the paragraphs below. In principle, the additional instrument breakdown is to be provided as memorandum items only for the subcategory total investment funds. INSTRUMENT AND MATURITY CATEGORIES ASSETS LIABILITIES

Overview of the instrument and maturity breakdown

1. Deposits (reported by A and B)

2. Loans (reported by C)

3. Securities other than shares (reported by A, B and C)

up to 1 year (reported by A)

over 1 years (reported by A)

4. Shares and other equity (reported by A, B and C)

5. Investment fund shares/units (reported by A and B)

6. Fixed assets (reported by A)

7. Financial derivatives (reported by A and B)

8. Other assets (reported by A, B and C)

1. Deposits and loans taken (reported by A, B and C)

2. Debt securities issued (reported by B and C)

3. Capital and reserves (reported by B and C)

4. Investment fund shares/units issued (reported by A)

5. Financial derivatives (reported by A and B)

6. Other liabilities (reported by A, B and C)

Overview of the instrument and maturity breakdown Additional requirements for the purposes of MUFA compilation

1. Quoted shares

2. MMF shares

3. Loans

up to 1 year

over 1 year

ASSETS

0. Total assets/liabilities: Total assets should be reported in respect of all OFI subcategories. Total assets should equal the sum of all items separately identified on the assets side of the balance sheet and should also equal total liabilities.

1. Deposits: The item deposits is separately required for all types of investment funds reporting separately and for SDDs. In the case of FCLs, this item should be allocated to other assets. This item consists of two main subcategories: Holdings of currency should also be included under this item. Currency comprises notes and coins in circulation that are commonly used to make payments. This item is expected to be insignificant. Valuation rules: in line with the ESA 95, deposits should be reported at face value, excluding accrued interests.

Transferable deposits: Deposits (in national or in foreign currency) which are immediately convertible into currency or which are transferable by cheque, banker’s order, debit entry or the like, both without any kind of significant restriction or penalty (ESA 95, paragraphs 5.42 to 5.44).

Other deposits: All holdings in deposits other than transferable deposits. Other deposits cannot be used to make payments at any time and they are not convertible into currency or transferable deposits without any kind of significant restriction or penalty. This subcategory includes time deposits, savings deposits etc (ESA 95, paragraphs 5.45 to 5.49).

2. Loans: Data relating to loans are to be reported separately only for the subcategory FCLs. For the subcategories investment funds and SDDs, loans should be allocated under other assets. However, in addition, for the purpose of compiling MUFA, loans (with maturities of up to one year and over one year) should also be separately identified as a memorandum item for the subcategory total investment funds. Loans are funds lent by reporting OFIs to borrowers, which are not evidenced by negotiable documents or are represented by a single document (even if it has become negotiable). This item consists of: Valuation rules: in line with the treatment of loans made by MFIs, loans made by OFIs should, in principle, be recorded gross of all related provisions, both general and specific, until the loans are written off by the reporting institution, at which point the loans are removed from the balance sheet. In accordance with the general principle of accruals accounting, interest earned 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 or paid (i.e. on a cash basis). Accrued interest on loans should be classified on a gross basis under the category other assets. Accrued interest should be excluded from the loan to which it relates, which should be valued at the nominal amount outstanding on the reporting date.

loans granted to households in the form of consumer credit (loans granted for the purpose of personal use in the consumption of goods and services), lending for house purchases (credit extended for the purpose of investing in housing, including building and home improvements), and other (loans granted for purposes such as business, debt consolidation, education, etc.),

financial leases granted to third parties,

bad debt loans that have not yet been repaid or written off,

holdings of non-negotiable securities,

subordinated debt in the form of loans.

3. Securities other than shares: This item is separately required for all subcategories of OFIs, except for other OFIs. This item refers to holdings of securities other than shares and other equity which are usually negotiable and 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 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. It also includes negotiable loans that have been restructured into a large number of identical documents and that are traded on organised markets. Valuation rules: in line with the ESA 95, securities other than shares should be reported at market value. A maturity split (initial maturity) up to one year and over one year of securities other than shares is required for the OFI subcategory investment funds (total investment funds and investment funds broken down by type of investment).

4. Shares and other equity (excluding investment fund shares): This item is separately required for all subcategories of OFIs, except for other OFIs. This refers to holdings of securities which represent property rights in corporations or quasi-corporations. These securities generally entitle the holders to a share in the profits of corporations or quasi-corporations and to a share in their own funds in the event of liquidation. This category comprises three main subcategories: Valuation rules: In line with the ESA 95, shares and other equity should be reported at market value.

quoted shares, excluding investment fund shares: Shares with prices quoted on a recognised stock exchange or other form of secondary market (ESA 95, paragraphs 5.88 to 5.93). Data on quoted shares should be provided separately for the subcategory total investment funds,

unquoted shares, excluding investment fund shares: Shares that are not quoted (ESA 95, paragraphs 5.88 to 5.93),

other equity: All transactions in other equity that are not covered by quoted and unquoted shares (ESA 95, paragraphs 5.94 and 5.95).

5. Investment fund shares/units: Holdings of investment fund shares/units are to be reported as a separate item only for the subcategories investment funds (total investment funds and all types of investment funds) and SDDs. For the subcategory FCLs, investment fund shares/units should be allocated under other assets. Investment fund shares/units are shares/units issued by a specific type of financial corporation, whose exclusive purpose is to invest the funds collected on the money market, the capital market and/or the real estate market. Investment fund shares/units are exclusively liabilities of MFIs (only MMFs) and investment funds classified as OFIs. Shares/units of investment funds issued give the holders rights regarding the capital invested and on the returns arising from such investments but usually do not give any evidence of control of the collective investment (such as voting rights or participation in management). Valuation rules: in line with the ESA 95, investment fund shares/units should be reported at market value. In addition, for the subcategory total investment funds, holdings of MMF shares are reported.

6. Fixed assets: This item consists of: Fixed assets are separately identified for total investment funds and also for investment funds broken down by type of investment and by type of investor. In the case of investment funds broken down by investment, fixed assets should only be separately identified for real estate, mixed and other funds, since these three types of funds are expected to hold real estate for investment purposes. All other categories of funds broken down by investment also have fixed assets, but the amount is expected to be insignificant as they would be mainly fixed assets for own use (buildings occupied by the OFI, equipment, software and other infrastructures). Where fixed assets do not have to be reported as a separate item, they will be allocated under other assets.

tangible fixed assets for investment purposes (investments in dwellings, other buildings and structures, non-residential buildings). This part is identified as holdings of real estate,

non-financial assets, tangible or intangible, which are intended to be used repeatedly for more than one year by reporting OFIs. They include land and buildings occupied by the OFIs, as well as equipment, software and other infrastructures.

7. Financial derivatives: Data relating to financial derivatives are to be reported as a separate item only for the subcategories investment funds (total investment funds and all types of investment funds) and SDDs. In the case of FCLs, this item should be allocated under other assets. This item consists of all transactions in financial derivatives, i.e. financial assets based on or derived from a different underlying instrument. The underlying instrument is usually another financial asset, but may also be a commodity or an index (ESA 95, paragraph 5.65). The reporting of financial derivatives in the OFI reporting scheme should in principle be in line with the recommended treatment in the MFI reporting scheme. In this context, the Guidance Notes to the Regulation ECB/2001/13 on the MFI balance sheet statistics state that, in accordance with existing international statistical standards, financial derivative instruments that have a market value should in principle be subject to on-balance-sheet recording. Derivatives have a market value when they are traded on organised markets (exchanges) or in circumstances in which they can be regularly offset on over-the-counter (OTC) markets. Under this item, the following financial derivatives should be reported: Financial derivatives that are subject to on-balance-sheet recording should be entered at their market value, which is the prevailing market price or a close equivalent (fair value). Derivatives should be recorded on the balance sheet on a gross basis. Individual derivative contracts with gross positive market values should be recorded on the asset side of the balance sheet and contracts with gross negative market values on the liability side. Gross future commitments arising from derivative contracts should not be entered as on-balance-sheet items. It is recognised that financial derivatives may be recorded on a net basis according to different valuation methods. In the case that only net positions are available, or positions are recorded other than at market value, these positions should be reported as default. No breakdowns (by sector, currency, etc.) are requested.

options, tradable and OTC,

warrants,

futures, but only if they have a market value because they are tradable or can be offset,

swaps, but only if they have a market value because they are tradable or can be offset.

8. Other assets: This item is separately required for all subcategories of OFIs, except for other OFIs. This item comprises assets not included elsewhere, such as: The above list is not comprehensive and varies according to the type of reporting category (see last bullet point). Indeed, the balance sheet required by type of subcategory of OFI varies according to the activity undertaken by the subcategory of OFI. Only the main items of the balance sheet are separately identified. All amounts that cannot be allocated in one of these main balance sheet items (BSI) should be allocated in other assets, e.g. as investment funds are not expected to grant loans, the item loan is not separately identified in the balance sheet. However, in the case that investment funds did in fact grant loans, this amount should be allocated in other assets. NCBs are required to provide details on the components of other assets in the explanatory notes.

accrued interest receivable on loans and accrued rent on buildings,

dividends to be received,

amounts receivable not related to the main OFI business,

gross amounts receivable in respect of suspense items,

gross amounts receivable in respect of transit items,

other assets not separately identified e.g. fixed assets, loans, deposits (depending on the subcategory of OFI).

LIABILITIES

0. Total assets/liabilities: Total liabilities should equal the sum of all items separately identified on the liability side of the balance sheet and should also equal total assets (see also asset items — total assets/liabilities).

9. Deposits and loans taken: This item is to be separately identified for investment funds, SDDs and FCLs. This item consists of:

Deposits: Transferable deposits and other deposits (see asset side) placed with OFIs. These deposits are generally placed by MFIs.

Loans: Loans granted to the reporting OFIs which are not evidenced by documents or are represented by a single document (even if it has become negotiable).

10. Debt securities issued: This item is to be separately reported for SDDs and FCLs. In the case of investment funds, this item is to be allocated under other liabilities, and is expected to be insignificant. This item refers to securities other than equity, 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. In some countries, OFIs may issue negotiable instruments with characteristics that are similar to those of debt securities issued by MFIs. In this reporting scheme, all such instruments would be classified as debt securities.

11. Capital and reserves: This item is to be separately reported for SDDs and FCLs. In the case of investment funds, this item is to be allocated under other liabilities. This item comprises the amounts arising from the issue of equity capital by reporting OFIs to shareholders or other proprietors, representing for the holder property rights in the OFI and generally an entitlement to a share in its profits and to a share in its own funds in the event of liquidation. Funds arising from non-distributed benefits or funds set aside by reporting OFIs in anticipation of likely future payments and obligations are also included. Capital and reserves comprise the following elements:

equity capital,

non-distributed benefits or funds,

specific provisions against loans, securities and other types of assets,

operating profit/loss.

12. Investment fund shares/units issued: This item is to be separately reported only for the subcategory investment funds as only investment funds issue investment fund shares/units. This item refers to shares or units issued by investment funds other than MMFs.

13. Financial derivatives: See asset items — financial derivatives.

14. Other liabilities: This item is separately required for all subcategories of OFIs, except for other OFIs. This item is similar to the MFIs’ remaining liabilities except that it excludes financial derivatives. This item comprises liabilities not included elsewhere, such as: The above list is not comprehensive and varies according to the type of reporting category. Indeed, the balance sheet required by the type of subcategory of OFI varies according to the activity undertaken by the subcategory of OFI. Only the main items of the balance sheet are separately identified. All amounts that cannot be allocated in one of these main items of the liability side should be allocated in other liabilities, e.g. as investment funds are not expected to issue debt securities, the item debt securities is not separately identified in the liability side. However, in the case that investment funds did in fact issue securities, this amount should be allocated in other liabilities. NCBs are required to provide details on the components of other liabilities in the explanatory notes.

gross amounts payable in respect of suspense items,

gross amounts payable in respect of transit items,

accrued interest payable on deposits,

dividends to be paid,

amounts payable not related to the main OFI business,

provisions representing liabilities against third parties,

margin payments made under derivative contracts, 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,

net positions arising from securities lending without cash collateral,

net amounts payable in respect of future settlements of transactions in securities.

ACCOUNTING RULES

Accounting rules followed by OFIs in drawing up their accounts should in principle comply with the national transposition of Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions and any other international standards applicable. Without prejudice to the prevailing accounting practices in Member States, all assets and all liabilities are to be reported on a gross basis for statistical purposes. Specific guidance in the valuation methods are given under the relevant categories.

GEOGRAPHICAL, SECTORAL AND BY PURPOSE BREAKDOWN

Geographical and sectoral breakdowns

The ECB requires, for some subcategories of OFIs and for a limited number of BSI, a geographical and sectoral breakdown similar to the MFI BSI. ASSETS LIABILITIES

A.

Domestic residents

MFIs

Non-MFIs

Of which non-financial corporations (S.11)

Of which households, etc. (S.14)

B.

Residents of the other participating Member States

MFIs

Non-MFIs

Of which non-financial corporations (S.11)

Of which households, etc. (S.14)

C.

Residents of the rest of the world

A.

Domestic residents

MFIs

Non-MFIs

B.

Residents of the other participating Member States

MFIs

Non-MFIs

C.

Residents of the rest of the world

Geographical breakdowns

The compilation of OFI statistics for the euro area requires the identification of counterparties located in the participating Member States with a breakdown between domestic territory and other participating Member States. The full geographical breakdown required is therefore domestic/other participating Member States/rest of the world. In the case of non-participating Member States, the breakdown is domestic/participating Member States/rest of the world. The geographical breakdown required relates to BSIs of:

total investment funds/investment funds by type of investment policy: In particular for securities other than shares, shares and other equity, investment fund shares/units (asset side) and investment fund shares issued (liability side). In the case of the asset side, the information is to be provided as a key indicator, in the case of the liability side, it should be provided as memo item.

FCLs: The item loans should provide a domestic/other participating Member States geographical breakdown (as a key indicator).

Sectoral breakdowns

The main sectoral breakdown required is MFI/non-MFI. The definition of MFI is well known while non-MFI comprises the sectors general government and other resident sectors. The sectoral breakdown required for the domestic data and other participating Member States data is the same. No sectoral breakdown is required for the rest of the world data. The sectoral breakdown is required for a limited number of items:

It should be transmitted as a memo item for the subsector investment funds (for total investment funds and for investment funds by type of investment) and only for those items for which a geographical breakdown is required.

It should be transmitted as a key indicator for the subsector financial corporations engaged in lending in respect to the item loans. A further identification of loans granted to non-financial corporations and households is, however, also required, only for this subcategory of OFIs and item.

Breakdown by purpose

This breakdown is only required for data relating to FCLs. It refers to the BSI loans and in particular to loans to households for which the purpose of the loan should be identified (broken down into consumer credit, lending for house purchases and other lending (residual)). This breakdown is required as a key indicator.

4.2. Adjustment data Adjustment data should be reported only in the case of significant breaks in stocks. For example, adjustment data should be provided due to reclassifications in the context of the implementation of the ESA 95 framework. Data should be provided where currently available, on a voluntary basis.

4.3. Overview of the instrument and maturity breakdown of transaction data Sales and repurchases of investment fund shares/units Additional requirements for the purposes of MUFA compilation

Transactions data Under the short-term approach to OFI statistics, data on financial transactions and sales and repurchases of units/shares issued by investment funds are to be provided as memorandum items for the subsector investment funds (for total investment funds and for investment funds by type of investment). Instrument and maturity breakdown: The table below provides an overview of the required instrument and maturity breakdown of transactions data. INSTRUMENT AND MATURITY CATEGORIES ASSETS LIABILITIES Total assets = Total liabilities (reported by all categories) Sales and repurchases of investment fund shares/units: The table below provides an overview of the required instrument breakdown of data on sales and repurchases of investment fund shares/units. INSTRUMENT CATEGORIES ASSETS LIABILITIES Additional requirements for the purposes of compiling MUFA: The table below provides an overview of the required additional instrument and maturity breakdown of transactions data. INSTRUMENT AND MATURITY CATEGORIES ASSETS LIABILITIES

4.3. Overview of the instrument and maturity breakdown of transaction data

1. Deposits

2. Securities other than shares

up to 1 year

over 1 years

3. Shares and other equity

4. Investment fund shares/units

5. Fixed assets

6. Other assets (including loans and financial derivatives)

1. Deposits and loans taken

2. Investment fund shares/units issued

3. Other liabilities (including debt securities, capital and reserves, financial derivatives)

4.3. Overview of the instrument and maturity breakdown of transaction data Sales and repurchases of investment fund shares/units

1. Investment fund shares/units issued — sale of new shares

2. Investment fund shares/units issued — repurchase of shares

4.3. Overview of the instrument and maturity breakdown of transaction data Sales and repurchases of investment fund shares/units Additional requirements for the purposes of MUFA compilation

1. Quoted shares

2. MMF shares

3. Loans

up to 1 year

over 1 year

4.4. Reporting frequency, timeliness and time range The reporting frequency to the ECB is quarterly. OFI statistics are transmitted to the ECB at the latest on the last calendar day of the third month following the end of the reference period, or on the preceding NCB business day if the last calendar day of the month is not an NCB business day. The exact transmission dates are communicated to NCBs in advance in the form of a reporting calendar. Historical quarterly data are to be transmitted to the ECB starting with those for the first available reference period, at least starting with the data for the reference period fourth quarter 1998.

5. Electronic transmission of OFI statistics — key family identifier: OFI

The OFI key family refers to euro area OFI balance sheet statistics. It has been designed in such a way as to draw as much as possible on the key family code lists and values already defined for BSI statistics.

5.

5.1. Dimensions

The table below describes the dimensions used in the OFI key family. For the OFI statistics, 11 dimensions have been specified as essential to identify the time series. Position In key: Concept (mnemonic) Concept name Value format Code list (mnemonic) Code list name Dimensions 1 FREQ Frequency AN1 CL_FREQ Frequency code list (BIS, ECB) 2 REF_AREA Reference area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 3 ADJUSTMENT Adjustment indicator AN1 CL_ADJUSTMENT Adjustment indicator code list (BIS, ECB) 4 OFI_REP_SECTOR OFI reference sectoral breakdown AN2 CL_OFI_REP_SECTOR OFI reference sectoral breakdown code list (ECB) 5 OFI_ITEM OFI balance sheet item AN3 CL_OFI_ITEM OFI balance sheet item code list (ECB) 6 MATURITY_ORIG Original maturity AN1 CL_MATURITY_ORIG Original maturity code list (ECB) 7 DATA_TYPE Data type AN1 CL_DATA_TYPE Money and banking type of data, flow and position (ECB, BIS) 8 COUNT_AREA Counterparty area AN2 CL_AREA_EE Area code list (Eurostat BoP, ECB) 9 BS_COUNT_SECTOR Balance sheet counterparty sector AN4 CL_BS_COUNT_SECTOR Balance sheet counterparty sector code list (ECB, BIS) 10 CURRENCY_TRANS Currency of transaction AN3 CL_CURRENCY Currency code list (ECB, BIS, Eurostat BoP) 11 SERIES_DENOM Denomination of the series or special calculation AN1 CL_SERIES_DENOM Denomination of the series or special calculation code list (ECB) Each of the 11 statistical dimensions takes its values from a corresponding code list. For example, according to the table above, the dimension REF_AREA (reference area) takes its values from the CL_AREA_EE code list. The dimensions of the OFI key family are described below, following the same sequence as they appear in the key.

5.1. Dimension No 1: Frequency (FREQ; length: one character)

This dimension indicates the frequency of the reported time series. The value used in the OFI key family is Q for quarterly data and is a subset of the values specified in the code list CL_FREQ. When national data are only available at a lower frequency (i.e. half-yearly or annual), NCBs estimate quarterly data. When quarterly estimates are not feasible, data are nevertheless provided as quarterly time series (i.e. annual data are provided as yyyyQ4 and half-yearly data are provided as yyyyQ2 and yyyyQ4 with the remaining quarters either not reported or reported as missing with observation status L).

Dimension No 2: Reference area (REF_AREA; length: two characters)

This dimension represents the country of residence of the reporting institution. The associated code list CL_AREA_EE contains the standard ISO country list and some additional values (see also dimension No 8: Counterparty area). The subset of values used in the OFI key family corresponds to the European Union (EU) Member States.

Dimension No 3: Adjustment indicator (ADJUSTMENT; length: one character)

This dimension indicates whether a seasonal adjustment and/or a working day adjustment have been applied. The corresponding code list is CL_ADJUSTMENT. The value used in the OFI key family is N for neither seasonally nor working day adjusted series.

Dimension No 4: OFI reference sectoral breakdown (OFI_REP_SECTOR; length: two characters)

This dimension indicates which type of OFI is reporting and is linked to the code list CL_OFI_REP_SECTOR. The following 11 values have been defined: total investment funds (10); investment funds broken down by type of investment: equity funds (11), bond funds (12), mixed funds (13), real estate funds (14) and other funds (15); investment funds broken down by type of investor: general public funds (1G) and special investors funds (1S); SDDs (20); FCLs (30) and other categories of OFIs (40).

Dimension No 5: OFI balance sheet item (OFI_ITEM; length: three characters)

This dimension represents the BSI of the OFI balance sheet and is linked to the code list CL_OFI_ITEM. Values for assets and liabilities are identified by the prefix A or L and are organised and coded following, wherever possible, a hierarchical relation among the items. Since OFIs concentrate on different financial activities depending on their type, not all BSIs apply to all the types. In particular, on the asset side two different items have been defined for other assets: On the liability side three different items have been defined for other liabilities:

other assets (including loans) (A8A) which applies to all categories of OFIs except FCLs, and

other assets (including deposits, cash, investment fund shares, fixed assets and financial derivatives) (A8B) which applies to FCLs.

other liabilities (excluding debt securities, capital and reserves and financial derivatives) (L6A) which applies to SDDs,

other liabilities (including financial derivatives) (L6B) which applies to FCLs, and

other liabilities (including debt securities and capital and reserves) (L6C) which applies to the investment funds categories.

Dimension No 6: Original maturity (MATURITY_ORIG; length: one character)

This dimension represents the original maturity of the BSI and is linked to the code list CL_MATURITY_ORIG. The maturity breakdown up to one year (F) and over 1 year (K) applies to the item securities other than shares for the investment funds categories. Conceptually, although the maturity breakdown is not required in this context, original maturity also applies to the asset items loans and deposits and the liability items deposits and loans taken and debt securities issued. In these cases the value A is therefore used for total maturity. All other items show the value X for not applicable.

Dimension No 7: Data type (DATA_TYPE; length: one character)

This dimension is described by the code list CL_DATA_TYPE and indicates the type of data to be reported: gross stocks (1), sales (2), repurchases (3), financial transactions (4), and reclassification and other adjustments (5). Reclassification and other adjustments comprise changes in the assets and liabilities on the balance sheet of the OFI reporting sector arising from 1) changes in the reporting population; 2) corporate restructuring; 3) the reclassification of assets and liabilities; and 4) the correction of those reporting errors which, for technical reasons, cannot be removed from the stock data for the complete relevant period.

Dimension No 8: Counterparty area (COUNT_AREA; length: two characters)

This dimension represents the area of residence of the counterparty of the OFI balance sheet. The code list linked to this concept is CL_AREA_EE, which contains the standard ISO country list and additional values (e.g. U6 — Domestic: same country as of the reporting OFI). For the purpose of the OFI key family a subset of values is used: domestic (home or reference area) (U6); other participating Member States (all countries except the reference area) (U5); rest of the world (U4) and world (all entities) (A1). When a country becomes a participating Member State, historical data referring to the pre-entry period are provided using the counterparty area codes Monetary Union (U2) and all areas other than the participating Member States and reference/home area(U8).

Dimension No 9: Balance sheet counterparty sector (BS_COUNT_SECTOR; length: four characters)

This dimension represents the sectoral breakdown of the OFI BSI and is linked to the code list CL_BS_COUNT_SECTOR. Five counterparty sectors are required: MFIs (1000); non-MFIs (2000); other resident sectors — o/w non-financial corporations (2240); other resident sectors — o/w households (2251) and the unspecified sector (0000).

Dimension No 10: Currency of transaction (CURRENCY_TRANS; length: three characters)

This dimension describes the currency in which the OFI BSIs are denominated and is linked to the code list CL_CURRENCY. Only the value Z01 is used for all currencies combined.

Dimension No 11: Denomination of the series or special calculation (SERIES_DENOM; length: one character)

This dimension specifies whether the reported series is expressed in national or in the common (euro) currency. It has two values (N, national currency and E, euro), that are represented by the code list CL_SERIES_DENOM. The code E is used by the participating Member States, while the code N is used by new participating Member States for the provision of historical data for the pre-entry period.

5.2. Attributes

5.2. Balance sheet items key family (ECB_OFI): coded and uncoded attributes Euro area NCBs reporting to the ECB Common attribute properties for the ECB_OFI key family

In addition to the 11 dimensions defining the key, a set of attributes has been defined. These are attached at various levels of the exchanged information: Assignment level Statistical concept Value format Code list Attributes at sibling level (exchanged using the FNS group) Sibling TITLE_COMPL Title complement AN..1050 Uncoded Sibling UNIT Unit AN..12 CL_UNIT Unit code list (BIS, ECB, Eurostat BoP) Sibling UNIT_MULT Unit multiplier AN..2 CL_UNIT_MULT Unit multiplier code list (BIS, ECB, Eurostat BoP) Sibling DECIMALS Decimals N1 CL_DECIMALS Decimals code list (BIS, ECB) Sibling TITLE Title AN..70 Uncoded Sibling NAT_TITLE National language title AN..350 Uncoded Sibling COMPILATION Compilation AN..1050 Uncoded Sibling COVERAGE Coverage AN..350 Uncoded Attributes at time series level (exchanged using the FNS group) Time series COLLECTION Collection indicator AN1 CL_COLLECTION Collection indicator code list (BIS, ECB) Time series AVAILABILITY Availability AN1 CL_AVAILABILITY Organisation availability code list (BIS, ECB) Time series DOM_SER_IDS Domestic series ids AN..70 Uncoded Time series BREAKS Breaks AN..350 Uncoded Attributes at observation level (exchanged together with the data in the main ARR segment) Observation OBS_STATUS Observation status AN1 CL_OBS_STATUS Observation status code list (BIS, ECB, Eurostat BoP) Observation OBS_CONF Observation confidentiality AN1 CL_OBS_CONF Observation confidentiality code list (Eurostat BoP, ECB) Observation OBS_PRE_BREAK Pre-break observation value AN..15 - Observation OBS_COM Observation comment AN..350 Uncoded Each of these attributes is characterised by some technical properties, which are listed in the table below. Status First value set by… Modifiable by NCBs TITLE_COMPL M ECB No UNIT M ECB No UNIT_MULT M ECB No DECIMALS M ECB No TITLE C ECB No NAT_TITLE C NCB Yes COMPILATION C NCB Yes COVERAGE C NCB Yes COLLECTION M ECB No AVAILABILITY M ECB/NCB Yes DOM_SER_IDS C NCB Yes BREAKS C NCB Yes OBS_STATUS M NCB Yes OBS_CONF C NCB Yes OBS_PRE_BREAK C NCB Yes OBS_COM C NCB/ECB Yes M:Mandatory, C: Conditional Below is a description of each attribute including the reference code list (indicated in capital letters as CL_****) whenever it applies.

5.2.1. Attributes at sibling level

TITLE_COMPL (uncoded): The title complement is set, stored and disseminated by the ECB (in English with a maximum length of 350 characters). If an NCB would like to make a modification, a revision can be made after consultation with the ECB. This revision will however be made by the ECB.

UNIT (code list: CL_UNIT): This attribute provides the unit of measure of the reported data. Participating Member States report the data in euro and the ECB sets this attribute to EUR (DENOM = EUR). In the case that a country becomes a participating Member State, the ECB sets the value of this attribute equal to the corresponding national currency in the case of historical data referring to the pre-entry period.

UNIT_MULT (code list: CL_UNIT_MULT): This attribute provides information on whether the series is expressed in millions (UNIT_MULT = 6), billions (UNIT_MULT = 9), etc. NCBs report the data in millions and the ECB sets the value of the attribute at 6 (UNIT_MULT = 6).

DECIMALS (code list: CL_DECIMALS): This attribute indicates the number of decimal places given for the values of the observations. NCBs report the data with three decimal places and the ECB sets the value of the attribute at 3 for all series (hence DECIMALS = 3).

5.2.1. Conditional:

A detailed description of the information to be included under this attribute is provided in Appendix 2 (points 1 to 5).

TITLE (uncoded): The series title allows a maximum of only 70 characters. In view of the limited space, the TITLE COMPLEMENT is used instead as the mandatory attribute. The TITLE attribute could be used for the construction of short titles.

NAT_TITLE (uncoded): NCBs may use this attribute in order to provide a precise description and other supplementary specifications in the national language. Although the use of upper and lower case letters does not cause problems, the exchange of accented characters and extended alphanumeric symbols still needs to be tested before regular use.

COMPILATION (uncoded): This attribute is used for providing detailed textual explanations of the compilation methods applied and comprises information such as:

data sources/data collection system,

compilation procedures (including description of estimations/assumptions made),

legal framework: information relating to the national legal framework and the links with EU directives for each type of OFI,

deviations from the ECB reporting instructions (instrument/maturity/geographical/sectoral classification and valuation methods),

criteria for classifying investment funds by type.

COVERAGE (uncoded): This attribute describes the reporting population coverage and should be specified under the series total assets/liabilities. It should describe the type of OFIs covered in the main categories. If the coverage is known to be partial, an estimation of the market share is provided. Further it should indicate whether the figures have been grossed up. Further details regarding the information to be included under this attribute are provided in Appendix 2 (point 6).

5.2.2. Attributes at time series level

COLLECTION (code list: CL_COLLECTION): This attribute provides an explanation of the time when observations are collected (e.g. beginning, middle or end of period) or an indication of whether data are averages, the highest or lowest in a given period etc. The ECB sets the OFI series as end-of-period (COLLECTION = E).

AVAILABILITY (code list: CL_AVAILABILITY): This attribute indicates the institutions to which the data can be made available. When special treatment for specific observations is needed, the observation confidentiality attribute can be used (see below).

DOM_SER_IDS (uncoded): This attribute allows reference to be made to the code used in national databases to identify the corresponding series (formulae using national reference codes can also be specified).

BREAKS (uncoded): This attribute provides a description of breaks and major changes over time in the collection, reporting coverage and compilation of the series. In the case of breaks, it is desirable to state the extent to which old and new data may be considered comparable (up to 350 characters).

5.2.3. Attributes at observation level

OBS_STATUS (code list: CL_OBS_STATUS): NCBs report an observation status value attached to each communicated observation. This attribute is mandatory and must be provided with every data transmission for every individual observation. When NCBs revise the value of this attribute, both the observation value (even if unchanged) and the new observation status value are reported. The list below specifies the expected values (according to the agreed hierarchy) for these attributes for the purpose of the OFI statistics: A normal value, B break value, M non-applicable data, L data exist but are not collected, E estimated value/assumption, P provisional value (this attribute can be used, in particular, with each data transmission referring to the last observation).

If an observation is qualified by two characteristics, the most important is reported. If, for example, an observation is both a provisional value and the result of an estimate, priority is given to the estimate property, and the value E is used.

OBS_CONF (code list: CL_OBS_CONF): If an NCB wishes to differentiate between the confidentiality status of one or more specific observations, it may use the OBS_CONF attribute. The value of this attribute (if any) may be modified at the time of the data transmission by the sender of the information.

OBS_PRE_BREAK: This attribute contains the pre-break observation value, which is a numeric field like the observation. It is provided when a series break occurs. For the purpose of the OFI key family, this attribute is not requested since this information is already available from the reclassification series. It has been added to the list of attributes since it is part of the common subset of attributes for all key families. However, if the observation status B (break value) is provided, it must be accompanied by a pre-break observation value.

OBS_COM (uncoded): This attribute can be used to provide textual comments at the observation level (e.g. describing the estimate or assumption made for a specific observation due to lack of data, explaining the reason for a possible abnormal observation or giving details of a change in the reported time series).

6. Exchange of information

6.

6.1. List of series

The ECB maintains and distributes to the NCBs tables containing lists with series keys of OFI time series to be transmitted. The series to be provided to the ECB are set out in Appendix 1. The following series to be reported can be distinguished:

6.1. KEY INDICATORS

The stock data to be reported under this category refer to: Total investment funds and investment funds broken down by type of investment:

Total funds: Balance sheets broken down by instrument, maturity and geographical counterparty (total of 29 series).

Investment funds broken down by type of investment policy: Subject to minor differences, the breakdowns required are the same as those for total investment funds. The data to be reported under this category cover:

equity funds and bond funds balance sheets (total of 28 series for each category),

mixed funds balance sheets (total of 29 series),

real estate funds balance sheets (total of 20 series),

other funds balance sheets (total of 29 series).

SDDs (total of 12 series).

FCLs balance sheets broken down by instrument, sector and geographical counterparty and the BSI loans broken down by purpose (total of 32 series).

MEMORANDUM ITEMS

The stock data to be reported under this category refer to:

Total investment funds: Balance sheet data broken down by sector MFI/non-MFI (total of 27 series); additional requirements for the purposes of MUFA compilation (5 series).

Equity funds (27 series), bond funds (27 series), mixed funds (27 series), real estate funds (15 series), other funds (27 series): Balance sheet for investment funds by type of investment broken down by sector MFI/non-MFI.

Balance sheet data on general public funds (12 series) and special investors funds (12 series).

Total assets/liabilities for other categories of OFI (1 series).

ADJUSTMENTS AND TRANSACTIONS DATA

In addition to the series on stocks, the corresponding series on reclassification and other adjustments and transactions, including data on sales and repurchases of investment fund shares/units, are required when available.

6.2. Data requirements Key indicators should be transmitted by all participating Member States when actual data are available. When no actual data are available for certain breakdowns or for the agreed quarterly frequency, estimates are to be provided if feasible. Supplementary data should only be transmitted by those countries for which actual data are available. In the case that the underlying economic phenomenon exists but is not monitored statistically and therefore national estimates cannot be provided, NCBs may choose either not to report the time series or to report it as missing with observation status L. Any time series that is not reported will therefore be interpreted as data that exist but are not collected and assumptions/estimates may be made at ECB level for the purpose of compiling euro area aggregates. For transactions data, where transactions are estimated by taking the change in stocks (Qt-Qt-1), NCBs should either not report the time series or report it as missing with observation status L. If the underlying phenomenon does not exist, then the time series must be reported as missing with observation status M. In the case of data on reclassifications and other adjustments, data must only be reported when a reclassification or other adjustment as described in Section 4.2 occurs.

7. Revision policy NCBs may have to revise the data transmitted the previous quarter (ordinary revisions). In addition, revisions to data on earlier quarters (historical revisions) may also occur. The following general principles apply:

On the occasion of all regular quarterly data transmissions, in addition to the data on the latest quarter, only ordinary revisions (i.e. revisions to the data transmitted the previous quarter) can be sent.

Historical revisions should be limited and reported on a different date from the regular reporting. In principle, minor routine historical revisions to the data should only be provided on a yearly basis (together with the transmission of data for the fourth quarter). However exceptionally, historical revisions, which significantly improve the quality of the data, may be accepted during the year (outside the regular production cycles).

the case of significant revisions explanatory notes must be provided to the ECB.

Appendix 1 SERIES ON INVESTMENT FUNDS TO BE TRANSMITTED TO THE ECB — STOCK DATA (Key indicators/Memorandum items) ASSETS LIABILITIES SERIES ON INVESTMENT FUNDS TO BE TRANSMITTED TO THE ECB — TRANSACTIONS DATA (Memorandum items) ASSETS LIABILITIES SERIES ON INVESTMENT FUNDS TO BE TRANSMITTED TO THE ECB — SALES AND REPURCHASES (Memorandum items) LIABILITIES

Item name and maturity/geographical breakdown/sectoral breakdown Investment funds/total Equity funds Bond funds Mixed funds Real estate funds Other funds General public funds Special investor funds Deposits/world/total Key Key Key Key Key Key Memo Memo Loans total maturity/world/total Memo Loans short-term/world/total Memo Loans long-term/world/total Memo Securities other than shares total maturity/world/total Key Key Key Key Key Key Memo Memo Securities other than shares total maturity/domestic/total Key Key Key Key Key Securities other than shares total maturity/domestic/MFIs Memo Memo Memo Memo Memo Securities other than shares total maturity/domestic/non-MFIs Memo Memo Memo Memo Memo Securities other than shares total maturity/other participating Member States/total Key Key Key Key Key Securities other than shares total maturity/other participating Member States/MFIs Memo Memo Memo Memo Memo Securities other than shares total maturity/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Securities other than shares total maturity/rest of the world/total Key Key Key Key Key Securities other than shares up to 1 year/world/total Key Key Key Key Key Key Securities other than shares up to 1 year/domestic/total Key Key Key Key Key Securities other than shares up to 1 year/domestic/MFIs Memo Memo Memo Memo Memo Securities other than shares up to 1 year/domestic/non-MFIs Memo Memo Memo Memo Memo Securities other than shares up to 1 year/other participating Member States/total Key Key Key Key Key Securities other than shares up to 1 year/other participating Member States/MFIs Memo Memo Memo Memo Memo Securities other than shares up to 1 year/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Securities other than shares up to 1 year/rest of the world/total Key Key Key Key Key Securities other than shares over 1 year/world/total Key Key Key Key Key Key Securities other than shares over 1 year/domestic/total Key Key Key Key Key Securities other than shares over 1 year/domestic/MFIs Memo Memo Memo Memo Memo Securities other than shares over 1 year/domestic/non-MFIs Memo Memo Memo Memo Memo Securities other than shares over 1 year/other participating Member States/total Key Key Key Key Key Securities other than shares over 1 year/other participating Member States/MFIs Memo Memo Memo Memo Memo Securities other than shares over 1 year/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Securities other than shares over 1 year/rest of the world/total Key Key Key Key Key Shares and other equity/world/total Key Key Key Key Key Key Memo Memo Shares and other equity/domestic/total Key Key Key Key Key Key Shares and other equity/domestic/MFIs Memo Memo Memo Memo Memo Memo Shares and other equity/domestic/non-MFIs Memo Memo Memo Memo Memo Memo Shares and other equity/other participating Member States/total Key Key Key Key Key Key Shares and other equity/other participating Member States/MFIs Memo Memo Memo Memo Memo Memo Shares and other equity/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Memo Shares and other equity/rest of the world/total Key Key Key Key Key Key Quoted shares/world/total Memo Investment fund shares/world/total Key Key Key Key Key Key Memo Memo Investment fund shares/domestic/total Key Key Key Key Key Key Investment fund shares/domestic/MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/domestic/non-MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/other participating Member States/total Key Key Key Key Key Key Investment fund shares/other participating Member States/MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/rest of the world/total Key Key Key Key Key Key Money market fund shares/world/MFIs Memo Fixed assets/world/total Key Key Key Key Memo Memo Financial derivatives/world/total Key Key Key Key Key Key Memo Memo Other assets (including loans)/world/total Key Key Key Key Key Key Memo Memo TOTAL ASSETS/LIABILITIES/world/total Key Key Key Key Key Key Memo Memo Item name and maturity/geographical breakdown/sectoral breakdown Investment funds/total Equity funds Bond funds Mixed funds Real estate funds Other funds General public funds Special investor funds Deposits and loans taken/world/total Key Key Key Key Key Key Memo Memo Investment fund shares/world/total Key Key Key Key Key Key Memo Memo Investment fund shares/domestic/total Memo Memo Memo Memo Memo Memo Investment fund shares/domestic/MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/domestic/non-MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/other participating Member States/total Memo Memo Memo Memo Memo Memo Investment fund shares/other participating Member States/MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/other participating Member States/non-MFIs Memo Memo Memo Memo Memo Memo Investment fund shares/rest of the world/total Memo Memo Memo Memo Memo Memo Financial derivatives/world/total Key Key Key Key Key Key Memo Memo Other liabilities (including debt securities and capital and reserves)/world/total Key Key Key Key Key Key Memo Memo Item name and maturity/geographical breakdown/sectoral breakdown Investment funds/total Equity funds Bond funds Mixed funds Real estate funds Other funds General public funds Special investor funds Deposits/world/total Memo Memo Memo Memo Memo Memo Loans total maturity/world/total Memo Loans up to 1 year/world/total Memo Loans over 1 year/world/total Memo Securities other than shares total maturity/world/total Memo Memo Memo Memo Memo Memo Securities other than shares up to 1 year/world/total Memo Memo Memo Memo Memo Memo Securities other than shares over 1 year/world/total Memo Memo Memo Memo Memo Memo Shares and other equity/world/total Memo Memo Memo Memo Memo Memo Quoted shares/world/total Memo Investment fund shares/world/total Memo Memo Memo Memo Memo Memo Money market fund shares/world/MFIs Memo Fixed assets/world/total Memo Memo Memo Memo Other assets (including loans and financial derivatives)/world/total Memo Memo Memo Memo Memo Memo TOTAL ASSETS/LIABILITIES/world/total Memo Memo Memo Memo Memo Memo Item name and maturity/geographical breakdown/sectoral breakdown Investment funds/total Equity funds Bond funds Mixed funds Real estate funds Other funds General public funds Special investor funds Deposits and loans taken/world/total Memo Memo Memo Memo Memo Memo Investment fund shares/world/total Memo Memo Memo Memo Memo Memo Other liabilities (including debt securities, capital and reserves and financial derivatives)/world/total Memo Memo Memo Memo Memo Memo Item name and maturity/geographical breakdown/sectoral breakdown Investment funds/total Equity funds Bond funds Mixed funds Real estate funds Other funds General public funds Special investor funds Investment fund shares/world/total — Sale of new shares Memo Memo Memo Memo Memo Memo Investment fund shares/world/total — Repurchase of shares Memo Memo Memo Memo Memo Memo

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1. 2005-02-15