Regulation (EC) No 25/2009 of the European Central Bank of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector (Recast) (ECB/2008/32) (repealed) (c. 25)

ANNEX II CONSOLIDATION PRINCIPLES AND DEFINITIONS

PART 1 Consolidation for statistical purposes within the same national territory

1. For each participating Member State, the reporting population consists of MFIs included in the list of MFIs for statistical purposes and resident in the territory of the participating Member States(1). These are:

• institutions incorporated and located in that territory, including subsidiaries(2) of parent companies located outside that territory, and

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

Institutions located in offshore financial centres are treated statistically as residents of the territories in which the centres are located.

2. MFIs consolidate for statistical purposes the business of all their offices (registered or head office and/or branches) located within the same national territory. No consolidation for statistical purposes is permitted across national boundaries.

(a)

If a parent company and its subsidiaries are MFIs located in the same national territory, the parent company is permitted to consolidate in its statistical returns the business of these subsidiaries, keeping however the business of credit institutions and other MFIs separate.

(b)

If an institution has branches located within the territories of the other participating Member States, the registered or head office located in a given participating Member State considers the positions towards all these branches as positions towards residents in the other participating Member States. Conversely, a branch located in a given participating Member State considers the positions towards the registered or head office or towards other branches of the same institution located within the territories of the other participating Member States as positions towards residents in the other participating Member States.

(c)

If an institution has branches located outside the territory of the participating Member States, the registered or head office located in a given participating Member State considers the positions towards all these branches as positions towards residents of the rest of the world. Conversely, a branch located in a given participating Member State considers the positions towards the registered or head office or towards other branches of the same institution located outside the participating Member States as positions towards residents of the rest of the world.

(1)

In the tables of this Annex, the ECB is classified as an MFI resident in the country where the ECB is physically located.

(2)

Subsidiaries are separate incorporated entities in which another entity has a majority or full participation, whereas branches are unincorporated entities (without independent legal status) totally owned by the parent.