Regulation (EC) No 1489/2007 of the European Central Bank of 29 November 2007 amending Regulation (EC) No 2423/2001 (ECB/2001/13) concerning the consolidated balance sheet of the monetary financial institutions sector (ECB/2007/18)
Regulation (EC) No 1489/2007 of the European Central Bankof 29 November 2007amending Regulation (EC) No 2423/2001 (ECB/2001/13) concerning the consolidated balance sheet of the monetary financial institutions sector(ECB/2007/18)THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central BankOJ L 318, 27.11.1998, p. 8., and in particular Articles 5(1) and 6(4) thereof,Whereas:(1)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)OJ L 333, 17.12.2001, p. 1. Regulation as last amended by Regulation (EC) No 4/2007 (ECB/2006/20) (OJ L 2, 5.1.2007, p. 3). requires monetary financial institutions (MFIs) to report quarterly statistical data broken down by country and currency. It needs to be amended to take into account the accession of new Member States to the European Union.(2)Regulation (EC) No 2423/2001 (ECB/2001/13) also imposes an obligation to report quarterly data on positions vis-à-vis counterparties resident in the territories of Member States that have adopted the euro. It needs to be amended to take into account the adoption of the euro by further Member States.(3)National central banks (NCBs) should be allowed to grant, on a non-discriminatory basis, derogations from the reporting requirements to individual electronic money institutions in certain situations. In cases where electronic money institutions fulfil certain conditions, the underlying purpose behind collecting statistical data under Regulation (EC) No 2423/2001 (ECB/2001/13) can be met without imposing statistical requirements on such institutions. The European Central Bank (ECB) aims to ensure a level playing field by monitoring the granting of such derogations.(4)The conditions under which shares issued by MFIs should be classified as deposits instead of as capital and reserves need to be clarified,HAS ADOPTED THIS REGULATION: