Draft ECB Regulation on reporting of supervisory financial information

Purpose of the consultation

This consultation gives interested parties the opportunity to comment on the draft ECB Regulation on reporting of supervisory financial information.

The draft Regulation lays down the requirements for reporting on supervisory financial information to be submitted to national competent authorities (NCAs) by significant and less significant supervised entities and groups, established in participating Member States, including branches established in a participating Member State by a credit institution established in a non-participating Member State.

This draft ECB Regulation is in line with:

• Council Regulation (EU) No 1024/2013 of 15 October 2013 conferring specific tasks on the European Central Bank (ECB) concerning policies relating to the prudential supervision of credit institutions (SSM Regulation);
• Council Regulation (EU) No 575/2013 of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 and;
• Commission Implementing Regulation (EU) No 680/2014 of 16 April 2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013.

The SSM Regulation, in particular its Article 4(1)(d), confers on the ECB the task of ensuring compliance with reporting requirements and enables the ECB to require specific information from credit institutions and holding companies in accordance with Article 10. Furthermore, on the basis of Article 99(3) of Regulation (EU) No 575/2013, the ECB may extend the obligation to report financial information to specific institutions applying international accounting standards. On the basis of Article 99(6) of Regulation (EU) No 575/2013, the ECB may extend the obligation to report supervisory financial information on a consolidated basis to credit institutions applying national accounting frameworks.

Period of consultation

The deadline for submitting comments is midnight on 4 December 2014. Only comments received before this deadline will be considered.

Public hearing on 13 November

The ECB held a public hearing at its premises in Frankfurt am Main on 13 November 2014.

Programme for the public hearing

Webcast

Comments received

In total, 21 submissions were received.