Regulation (EU) No 1011/2012 of the European Central BankShow full title

Article 2 U.K. Actual reporting population

[F1 [F2 1. The actual reporting population shall consist of sectoral data reporting agents and group data reporting agents (hereinafter collectively referred to as ‘ actual reporting agents ’ ).

(a) Sectoral data reporting agents shall be resident MFIs, IFs, FVCs, ICs and custodians.

(b) Group data reporting agents shall be:

(i)

heads of banking groups; and

(ii)

institutions or financial institutions established in participating Member States and which are not part of a banking group;

where they have been identified by the Governing Council pursuant to paragraph 4 as part of the actual reporting population, and notified of their reporting obligations pursuant to paragraph 5.]

2. If an MMF, IF, FVC or IC does not have legal personality under their national law, the persons legally entitled to represent them or, in the absence of formalised representation, persons that under the applicable national laws are liable for their acts, shall be responsible for reporting the information required under this Regulation.]

[F3 2a. Where NCBs derive data to be reported by ICs under this Regulation from data collected under Directive 2009/138/EC, the actual reporting population of ICs shall consist of:

(a) ICs incorporated and resident in the territory of the relevant euro area Member State, including subsidiaries whose parent entities are located outside that territory;

(b) branches of ICs specified in point (a) that are resident outside the territory of the relevant euro area Member State;

(c) branches of ICs that are resident in the territory of the relevant euro area Member State but whose head office is outside the EEA.

For the avoidance of doubt, branches of ICs that are resident in the territory of a euro area Member State and whose head office is inside the EEA are not part of the actual reporting population.]

[F2 3. The actual reporting agents shall be subject to full reporting requirements unless any derogation granted pursuant to Articles 4, 4a or 4b applies.

4. The Governing Council may decide that a group data reporting agent is part of the actual reporting population if the value of the total balance sheet assets of the banking group referred to under paragraph 1(b)(i) or the institution or financial institution referred to under paragraph 1(b)(ii), is:

(a) greater than 0,5 % of the total consolidated balance sheet assets of the Union banking groups (hereinafter the ‘ 0,5 % threshold ’ ), according to the most recent data available to the ECB, i.e.:

(i)

data with reference to the end of December of the calendar year preceding notification pursuant to paragraph 5 or, if unavailable

(ii)

data with reference to the end of December of the previous year;

or

[F4 (b) equal to or below the 0,5 % threshold, provided that the group data reporting agent meets certain quantitative or qualitative criteria that attest to its importance for the stability and functioning of the financial system in the euro area, e.g. by virtue of its interconnectedness with other financial institutions in the euro area, cross-jurisdictional activity, lack of substitutability, complexity of the corporate structure, or direct supervision by the ECB; and/or individual euro area Member States, e.g. by virtue of the relative importance of the group data reporting agent within a particular segment of the banking services market in one or more euro area Member States, or direct supervision by the ECB.]

5. The relevant NCB shall notify the group data reporting agents of the Governing Council's decision pursuant to paragraph 4, and of their obligations under this Regulation.

6. Without prejudice to Article 10, any group data reporting agent that is notified in accordance with paragraph 5 after the first reporting under this Regulation has started, shall begin reporting data no later than 6 months after the date of notification.

7. A group data reporting agent notified in accordance with paragraph 5 shall inform the relevant NCB of changes to its name or legal form, of mergers or restructurings, and of any other event or circumstances affecting its reporting obligations, within 14 days of the occurrence of such event or circumstances.

8. A group data reporting agent notified in accordance with paragraph 5 shall remain subject to the obligations set out in this Regulation until it receives notification to the contrary by the relevant NCB.]

Textual Amendments

F1 Substituted by Regulation (EU) 2015/730 of the European Central Bank of 16 April 2015 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2012/24) (ECB/2015/18).

F2 Substituted by Regulation (EU) 2016/1384 of the European Central Bank of 2 August 2016 amending Regulation (EU) No 1011/2012 (ECB/2012/24) concerning statistics on holdings of securities (ECB/2016/22).

F3 Inserted by Regulation (EU) 2015/730 of the European Central Bank of 16 April 2015 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2012/24) (ECB/2015/18).

F4 Substituted by Regulation (EU) 2018/318 of the European Central Bank of 22 February 2018 amending Regulation (EU) No 1011/2012 concerning statistics on holdings of securities (ECB/2018/7).