http://www.legislation.gov.uk/eudn/2014/34/article/9Decision of the European Central Bank of 29 July 2014 on measures relating to targeted longer-term refinancing operations (ECB/2014/34) (2014/541/EU)Decision of the European Central Bank of 29 July 2014 on measures relating to targeted longer-term refinancing operations (ECB/2014/34) (2014/541/EU)2020-12-11King's Printer of Acts of Parliamenthttps://webarchive.nationalarchives.gov.uk/eu-exit/https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:02014D0034-20160503texttext/xmlen2016-05-03 Non-compliance with reporting requirements Article 9 1 If a participant fails to comply with the reporting obligations laid down in Article 8 above: a borrowing limits shall be set at zero where a participant fails to report data for the calculation of borrowing limits for either of the initial or additional allowance by the relevant deadline; and b the full amount of borrowings in respect of all TLTROs shall become payable where a participant fails to report data for the purpose of assessing if mandatory early repayments are applicable and calculating the relevant repayments, as necessary. Prior to the initiation of a measure pursuant to this paragraph, the concerned participant shall be given an opportunity to provide explanations if it considers that the non-compliance was due to circumstances beyond its control. 2 The provisions in paragraph 1 above shall be without prejudice to any sanction that may be imposed in accordance with Decision ECB/2010/10 in respect of the reporting obligations laid down in Regulation (EC) No 25/2009 (ECB/2008/32). 3 Where errors in the data submitted in the reporting templates are identified and notified by either a participant or the NCB, the Eurosystem shall conduct an assessment of the impact of the relevant error and undertake appropriate action, including the possibility of requiring mandatory early repayment. Decision ECB/2010/10 of 19 August 2010 on non-compliance with statistical reporting requirements (OJ L 226, 28.8.2010, p. 48).