Regulation (EC) No 25/2009 of the European Central Bank (repealed)Show full title

ANNEX IV MINIMUM STANDARDS TO BE APPLIED BY THE ACTUAL REPORTING POPULATION

Reporting agents must fulfil the following minimum standards to meet the ECB's statistical reporting requirements.

1. Minimum standards for transmission:

(a)

reporting to the NCBs must be timely and within the deadlines set by the relevant NCB;

(b)

statistical reports must take their form and format from the technical reporting requirements set by the NCBs;

(c)

the contact person(s) within the reporting agent must be identified; and

(d)

the technical specifications for data transmission to NCBs must be followed.

2. Minimum standards for accuracy:

(a)

the statistical information must be correct:

• all linear constraints must be fulfilled (e.g. assets and liabilities must balance, subtotals must add up to totals), and

• data must be consistent across all frequencies;

(b)

reporting agents must be able to provide information on the developments implied by the data supplied;

(c)

the statistical information must be complete: existing gaps must be acknowledged, explained to NCBs and, where applicable, bridged as soon as possible;

(d)

the statistical information must not contain continuous and structural gaps;

(e)

reporting agents must follow the dimensions and decimals set by the NCBs for the technical transmission of the data; and

(f)

reporting agents must follow the rounding policy set by the NCBs for the technical transmission of the data.

3. Minimum standards for conceptual compliance:

(a)

the statistical information must comply with the definitions and classifications contained in this Regulation;

(b)

in the event of deviations from these definitions and classifications, where applicable, reporting agents must monitor on a regular basis and quantify the difference between the measure used and the measure contained in this Regulation; and

(c)

reporting agents must be able to explain breaks in the data supplied compared with the previous periods’ figures.

4. Minimum standards for revisions:

The revisions policy and procedures set by the ECB and the NCBs must be followed. Revisions deviating from regular revisions must be accompanied by explanatory notes.