Decision (EU) 2016/868 of the European Central BankShow full title

Decision (EU) 2016/868 of the European Central Bank

of 18 May 2016

amending Decision ECB/2014/6 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (ECB/2016/14)

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 Article 5 and Article 46.2 thereof,

Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank(1), and in particular Article 8(5) thereof,

Having regard to the contribution of the General Council,

Whereas:

(1) Decision ECB/2014/6(2) defines the preparatory measures that the Eurosystem central banks should take in order to prepare for the collection of granular credit data by the European System of Central Banks (ESCB).

(2) Since the adoption of Decision ECB/2014/6, significant progress has been made towards establishing a long-term framework for the collection of granular credit data based on harmonised statistical reporting requirements.

(3) Due to the number and complexity of the envisaged statistical reporting requirements, the timeline for implementation set out in Decision ECB/2014/6 needs to be extended so as to allow sufficient time for the ESCB to properly prepare for the collection of granular credit data. Since a significant amount of time will pass before the actual reporting begins, the timeline provided in Article 1 of Decision ECB/2014/6 for completing the preparatory phase should be replaced by a deadline which ensures that the preparatory phase ends when the reporting begins under the long-term framework for the collection of granular credit data.

(4) This revised timeline will also apply to national central banks (NCBs) of Member States whose currency is not the euro in situations where those NCBs cooperate with the Eurosystem central banks on the basis of Recommendation ECB/2014/7(3).

(5) In accordance with Article 3(2) of Decision ECB/2014/6 the Statistics Committee (hereinafter the ‘STC’) reports annually to the Governing Council on the progress achieved by the ECB and the individual NCBs with regard to their implementation of the preparatory measures. This annual report should include information collected by the STC from all NCBs, including information on the progress achieved by NCBs with a derogation pursuant to Article 3(3) of that Decision. The separate reports provided for in Article 3(3) of Decision ECB/2014/6 are no longer considered to be necessary.

(6) Therefore, Decision ECB/2014/6 should be amended accordingly,

HAS ADOPTED THIS DECISION:

(1)

OJ L 318, 27.11.1998, p. 8.

(2)

Decision ECB/2014/6 of 24 February 2014 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (OJ L 104, 8.4.2014, p. 72).

(3)

Recommendation ECB/2014/7 of 24 February 2014 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (OJ C 103, 8.4.2014, p. 1).