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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:
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.
The deadline for submitting comments is midnight on 4 December 2014. Only comments received before this deadline will be considered.
The ECB held a public hearing at its premises in Frankfurt am Main on 13 November 2014.
Press release: ECB publishes Regulation on financial information
Feedback Statement: Responses to the public consultation on the draft European Central Bank regulation on reporting of supervisory financial information
Draft Regulation of the European Central Bank on reporting of supervisory financial information, including an explanatory note.
Questions & Answers for the public consultation on the draft ECB Regulation on reporting of supervisory financial information.
Press release: ECB launches public consultation on draft ECB Regulation on reporting of supervisory financial information.
In total, 21 submissions were received.
Comment 1: AFME – Association for Financial Markets in Europe
Comment 2a: EACB - European Association of Co-operative Banks (Letter)
Comment 2b: EACB - European Association of Co-operative Banks (Comments)
Comment 3: Fédération Bancaire Française
Comment 4: Rheinisch-Westfälischer Genossenschaftsverband e.V.
Comment 5: Divison Bank and Insurance Austrian Federal Economic Chamber
Comment 6: European Banking Federation
Comment 7: State Street Bank Luxembourg S.A.
Comment 8: Genossenschaftsverband Weser-Ems e.V.
Comment 9: Genossenschaftsverband Bayern e.V.
Comment 10: German Banking Industry Committee National Association of German Cooperative Banks
Comment 11a: Deutsche Börse AG (Letter)
Comment 11b: Deutsche Börse AG (Comments)
Comment 12a: Bundesverband der Wertpapierfirmen e.V. (Letter)
Comment 12b: Bundesverband der Wertpapierfirmen e.V. (Comments)
Comment 13: Deloitte Consulting GmbH
Comment 15: Association of Foreign Banks in Germany (Verband der Auslandsbanken in Deutschland e.V.)
Comment 16a: European Federation of Building Societies (English)
Comment 16b: European Federation of Building Societies (German)
Comment 17: Deutscher Factoring-Verband e.V.
Comment 18: European Savings and Retail Banking Group
Comment 19: European Federation for the Factoring and Commercial Finance Industry - EUF