Regulation (EC) No 2423/2001 of the European Central Bank of 22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector (ECB/2001/13) (repealed) (c. 2423)

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

The following minimum standards shall be fulfilled by the reporting agents to meet the statistical reporting requirements of the ECB.

1. Minimum standards for transmission U.K.

(a)

Reporting to the NCBs shall be timely and within the deadlines set by the NCBs;

(b)

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

(c)

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

(d)

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

2. Minimum standards for accuracy U.K.

(e)

The statistical information shall be correct:

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

• data shall be consistent across all frequencies;

(f)

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

(g)

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

(h)

the statistical information shall not contain continuous and structural gaps;

(i)

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

(j)

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

3. Minimum standards for conceptual compliance U.K.

(k)

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

(l)

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

(m)

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

4. Minimum standards for revisions U.K.

(n)

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