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This Regulation establishes the reporting requirements for investment funds (IFs), and in certain cases other financial intermediaries (OFIs) and monetary financial institutions (MFIs), with regard to statistical information on their assets, liabilities, income received, dividends paid, and fees paid by the shareholders to the IF.
For the purposes of this Regulation, the following definitions apply:
(1)
‘investment fund’ (IF) means a collective investment undertaking that:
(a)
invests in financial and/or non-financial assets, described in Annex II, to the extent that its objective is investing capital raised from retail and professional investors; and
(b)
is constituted pursuant to Union or national law under:
(i)
contract law, as a common fund managed by management companies;
(ii)
trust law, as a unit trust;
(iii)
company law, as an investment company;
(iv)
any other similar mechanism or legal form.
The following are considered IFs for the purposes of this Regulation:
—
collective investment undertakings whose units or shares are, at the request of the holders, repurchased or redeemed directly or indirectly out of the undertaking’s assets; and
—
collective investment undertakings which have a fixed number of issued shares and whose shareholders have to buy or sell existing shares when entering or leaving the fund.
The following are not considered IFs for the purposes of this Regulation:
—
pension funds as defined in the Article 1 of Regulation (EU) 2018/231 of the European Central Bank (ECB/2018/2) ( 10 ) ;
—
money market funds (MMFs) as defined in Article 2 of Regulation (EU) 2021/379 of the European Central Bank (ECB/2021/2) ( 11 ) ;
(2)
‘resident’ means established within the territory of a Member State. A legal entity is established within the territory of a Member State in which it is authorised or registered or has its registered office. If the entity is not incorporated, it is established where it is domiciled, having regard to the Member State whose legal system governs the creation and continued existence of the entity;
(3)
‘relevant NCB’ means the NCB of the euro area Member State in which the IF is resident;
(4)
‘security-by-security information’ means information broken down into individual securities;
(5)
‘IF shares/units’ means shares or units, including in the form of equity capital, issued by IFs that are included in the list of IFs for statistical purposes and includes IF registered shares/units and IF bearer shares/units;
(6)
‘IF registered shares/units’ means IF shares/units in respect of which, in accordance with national legislation, a record is kept identifying the holders of its shares/units including information on the residency and institutional sector of the holder;
(7)
‘IF bearer shares/units’ means either of the following:
(a)
IF shares/units in respect of which, in accordance with national legislation, a record is not kept identifying the holders of its shares/units;
(b)
IF shares/units in respect of which, in accordance with national legislation, a record is kept identifying the holders of its shares/units, but which does not contain information on the residency and institutional sector of the holder;
(8)
‘monetary financial institution’ (MFI) means ‘monetary financial institution (MFI)’ as defined in Article 2(1) of Regulation (EU) 2021/379 (ECB/2021/2);
(9)
‘other financial intermediaries except insurance corporations and pension funds’ (OFIs) means ‘other financial intermediaries except insurance corporations and pension funds’ as defined in paragraphs 2.86 to 2.94 of Annex A to Regulation (EU) No 549/2013 of the European Parliament and of the Council ( 12 ) and excluding financial vehicle corporations engaged in securitisation transactions (FVCs) as defined in paragraph 2.90 of that Annex;
(10)
‘custodian’ means an entity belonging to the ‘financial corporations sector’ as defined in paragraph 2.55 of Annex A to Regulation (EU) No 549/2013 and undertaking the safekeeping and administration of financial instruments for the account of clients, including custodianship and related services such as cash/collateral management as specified in Section B, point (1), of Annex I to Directive 2014/65/EU of the European Parliament and of the Council ( 13 ) ;
(11)
‘undertakings for collective investment in transferable securities’ (UCITS) means ‘undertakings for collective investment in transferable securities’ as referred to in Article 1(2) of Directive (EC) No 2009/65 of the European Parliament and of the Council ( 14 ) ;
(12)
‘non-UCITS IF’ means IFs that are not UCITS as defined in point (11).
1. The actual reporting population shall consist of IFs that are resident in the territory of the euro area Member States. The IF itself or, in the case of IFs that do not have legal personality under their national legislation, the persons legally representing them shall report the statistical information required to be reported under this Regulation.
2. For the purposes of this Regulation, where an IF segregates its assets into different sub-funds in such a way that shares/units relating to each sub-fund are independently backed by different assets, each sub-fund shall be considered as an individual IF.
3. The actual reporting population shall also include those OFIs and MFIs which are subject to the ECB’s statistical reporting requirements by reason of the application of Article 6(3), point (b).
1. The Executive Board shall establish and maintain a list of IFs that form the actual reporting population, including each sub-fund that is considered an individual IF.
2. IFs shall inform the relevant NCB of their existence within one week from the date on which it has taken up business where such information is not made available to the NCB in accordance with the national supervisory framework or local cooperation arrangements, irrespective of whether the IF expects to be subject to any of the statistical reporting requirements under this Regulation.
3. The ECB shall publish the up-to-date list of IFs for statistical purposes by electronic means, including on the ECB’s website.
4. NCBs shall establish, maintain and publish an up-to-date list of OFIs and MFIs that are included in the actual reporting population by electronic means, including on the NCB’s website.
5. Where the latest accessible version of the lists referred to in paragraph 1 or 4 is incorrect, the ECB shall not impose sanctions on an IF, OFI or MFI that does not properly fulfil its statistical reporting requirements under this Regulation where that IF, OFI or MFI relied in good faith on the incorrect list.
6. IFs, OFIs and MFIs shall report the required statistical information in accordance with this Regulation where their exclusion from the relevant list is manifestly erroneous.
1. IFs shall report all of the following statistical information to the relevant NCB, in accordance with the specifications set out in Annex I and the descriptions set out in Annex II:
(a)
end-of-month stock data on the assets and liabilities of IFs specified in Table 1 of Annex I;
(b)
monthly flow data on either the revaluation adjustments or transactions of IFs, or both, specified in Table 2 of Annex I, in accordance with the methodology set out in Annex III;
(c)
monthly income received and dividends paid for each share class issued by the IF and annual fees paid by the shareholders to the IF specified in Table 4 of Annex I;
(d)
information on the classification of the IF specified in Table 5 of Annex I.
2. For the purposes of paragraph 1, points (a) and (b), the IF shall report security-by-security information where specified in Table 1 or Table 2 of Annex I, and in accordance with Table 3 of Annex I.
1. IFs shall report statistical information on the residency and institutional sector breakdown of the holders of IF registered shares/units issued by IFs set out in Tables 1 and 2, section 9 (IF shares/units), of Annex I.
2. Where the residency or institutional sector breakdown of the holder of IF registered shares/units issued by IFs referred to in paragraph 1 cannot be directly identified, IFs shall report the relevant statistical information on the basis of available information.
3. Where the residency or institutional sector breakdown of the holders of IF bearer shares/units issued by IFs set out in Tables 1 and 2, section 9 (IF shares/units), of Annex I cannot be directly identified, the relevant statistical information shall be reported in accordance with the instructions or arrangements established by the relevant NCB based on one or more of the following options:
(a)
issuing IFs shall report statistical information on the residency and institutional sector breakdown of the holders of IF bearer shares/units, including where it is based on information provided by the agent distributing the IF bearer shares/units, or from any other entity involved in the issue, buy-back or transfer of the IF bearer shares/units;
(b)
NCBs may require MFIs or OFIs acting as a custodian of IF bearer shares/units, to report statistical information on the residency and institutional sector breakdown of the holders of those IF bearer shares/units, issued by resident IFs and held in custody on behalf of the holder or of another intermediary also acting as a custodian, where both of the following apply:
(i)
the custodian distinguishes IF bearer shares/units kept in custody on behalf of holders from IF shares/units kept on behalf of other custodians; and
(ii)
most of the IF bearer shares/units are in the custody of domestic resident institutions that are classified as financial intermediaries (MFIs or OFIs).
4. NCBs may derive the required statistical information on IF shares/units issued by IFs on the basis of available information, including the statistical information collected pursuant to Regulation (EU) No 1011/2012 (ECB/2012/24), where that information complies with the timeliness requirements of Article 8 of this Regulation and with the minimum standards set out in Annex IV to this Regulation.
1. NCBs may obtain the statistical information required to be reported under this Regulation from the national competent authority, in particular through data collected under the framework established in Directive 2011/61/EU of the European Parliament and of the Council ( 15 ) , where that statistical information is transmitted to the NCB in accordance with the terms of local cooperation arrangements between the relevant NCB and the national competent authority, and provided that it fulfils the conditions on the protection and use of confidential statistical information collected by the ESCB under Article 8 of Regulation (EC) No 2533/98, in particular paragraph 5 thereof.
2. NCBs may estimate statistical information required to be reported pursuant to Article 5(1), point (c), on income received based on the assets of the IF, by using the methodology previously agreed with the ECB.
3. NCBs may compile the statistical information required to be reported pursuant to Article 5(1), point (c), on fees paid by the shareholders to the IF, and point (d), on information on the classification of the IF, from information sources that are available to them, and provided that it fulfils the conditions on the protection and use of confidential statistical information collected by the ESCB under Article 8 of Regulation (EC) No 2533/98, in particular paragraph 5 thereof.
1. NCBs shall determine the frequency and timeliness with which they receive statistical information from IFs, OFIs or MFIs, pursuant to this Regulation in order to meet the reporting deadlines referred to in paragraphs 2 and 3, and shall inform the reporting agents accordingly.
2. NCBs shall transmit all of the following to the ECB:
(a)
monthly statistical information by close of business on the 28th working day following the end of the month to which the statistical information relates;
(b)
the statistical information referred to in Article 5(1), point (d), by close of business on the 28th working day following the end of the month in which either the IF is first established or in which there is a change to the classification information of the IF;
(c)
annual statistical information by close of business on 30 June of each calendar year.
3. Where derogations granted by NCBs permit IFs, OFIs or MFIs to report statistical information to NCBs on a basis that is not monthly, the NCB shall transmit the statistical information to the ECB by close of business on the 28 th working day following the end of the period to which the statistical information relates.
For the purposes of reporting pursuant to this Regulation, except where a derogation is granted in accordance with Article 10, IFs, OFIs and MFIs shall:
(a)
follow the accounting rules set out in Council Directive 86/635/EEC ( 16 ) and in any other applicable international standards;
(b)
apply market valuation methods, where available;
(c)
report all financial assets and liabilities on a gross basis;
(d)
report based on the latest available asset valuations, in accordance with the frequency set out in Article 5 and the deadlines established by NCBs pursuant to Article 8(1).
1. NCBs may grant derogations from the statistical reporting requirements referred to in Article 5(1), points (a), (b) and (c), to the smallest IFs in terms of total assets provided that the IFs that contribute to the monthly aggregated balance sheet account for at least 95 % of the total of IFs’ assets in terms of stocks in each euro area Member State.
2. In euro area Member States where the combined total assets of resident IFs do not exceed 1 % of the euro area IF total assets, NCBs may grant derogations from the statistical reporting requirements referred to in Article 5(1), points (a), (b) and (c), to the smallest IFs in terms of total assets resident in their respective Member State, provided that the IFs that contribute to the monthly aggregated balance sheet account for at least 80 % of the total of IFs’ assets in terms of stocks in each euro area Member State.
3. Where NCBs grant derogations pursuant to paragraphs 1 or 2, IFs shall report all of the following statistical information, as a minimum, to the relevant NCB in accordance with the descriptions set out in Annex II:
(a)
on a quarterly basis, the statistical information on end-of-quarter stock data on IF shares/units specified in Table 1, section 9, of Annex I on an aggregated or a security-by-security basis;
(b)
on a quarterly basis, the statistical information on quarterly revaluation adjustments or transactions on IF shares/units specified in Table 2, section 9, of Annex I on an aggregated or a security-by-security basis.
4. Where NCBs grant derogations pursuant to paragraphs 1 or 2, both of the following shall apply:
(a)
derogations shall not be granted for a period longer than one calendar year;
(b)
NCBs shall verify that the thresholds referred to in paragraphs 1 and 2 are not exceeded on at least a yearly basis and in good time in order to grant or withdraw, if necessary, any derogation with effect from the start of the following calendar year.
5. NCBs may grant derogations regarding statistical information that is not security-by-security information as specified in Tables 1 and 2 of Annex I to non-UCITS IFs that are subject to national accounting rules that allow the valuation of their assets less frequently than monthly. Where NCBs grant such derogations, non-UCITS IFs shall report that statistical information in accordance with the frequency with which they are required to value their assets under national accounting rules, but as a minimum on an annual basis.
6. NCBs may grant derogations regarding security-by-security and share class information to non-UCITS IFs that are subject to national accounting rules that allow the valuation of their assets less frequently than monthly. Where NCBs grant such derogations, non-UCITS IFs shall report security-by-security and share class information specified in Tables 3 and 4 of Annex I on a quarterly basis.
7. NCBs may grant derogations from the statistical reporting requirements referred to in Article 5 to IFs that are subject to national accounting rules that do not require their assets to be valued in time to meet the clear reporting deadlines established by NCBs pursuant to Article 8(1). Where NCBs grant such derogations, IFs may report information to the NCB with the timeliness with which they are required to value their assets under national accounting rules.
8. NCBs may grant derogations to IFs with respect to statistical information collected pursuant to Article 5(2) on a security-by-security basis for securities classified under the categories ‘debt securities’, ‘equity’ and ‘IF shares/units’ in Tables 1 and 2 of Annex 1 where those securities do not have an individual ISIN code, or another valid identification code, and where either of the following apply:
(a)
the market value of the total holdings of such securities amounts to less than 1 % of the total holdings of securities of IFs in the country; or
(b)
the market value of the total holdings of such securities amounts to less than 5 % of the total holdings of securities of the IF.
Where NCBs grant such derogations, IFs may report such information on an aggregated basis, broken down by instrument/maturity categories and counterparties.
9. NCBs shall grant derogations to IFs with respect to statistical information collected pursuant to Article 6(3)(b), Article 6(4) or Article 7. The NCBs shall verify that it is possible to collect that statistical information in good time so as to grant or withdraw, if necessary, any derogation with effect from the start of each calendar year, where agreed with the ECB.
10. Where an IF has not been granted a derogation in accordance with paragraph 7, NCBs may grant derogations to IFs from the reporting requirements set out in Article 6 for a period of one year where IF registered shares/units or bearer shares/units are issued for the first time or where market developments require a change of option or combination of options set out in Article 6(3).
11. NCBs may grant derogations to IFs to report the statistical information referred to in Article 5(1), points (a) and (b), on a quarterly basis for the period to which the statistical information relates up to and including the second quarter of 2026.
1. IFs, OFIs and MFIs shall comply with the statistical reporting requirements to which they are subject in accordance with the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.
2. NCBs shall define and implement the reporting arrangements to be followed by the actual reporting population in accordance with national requirements. NCBs may establish local cooperation arrangements with the national competent authorities where applicable. NCBs shall ensure that those reporting arrangements and local cooperation arrangements provide the required statistical information and allow for accurate checking of the fulfilment of the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.
1. IFs shall notify the relevant NCB of a merger, division or other reorganisation where both of the following apply:
(a)
that merger, division or other reorganisation is likely to affect an IFs fulfillment of the statistical reporting requirements under this Regulation; and
(b)
the intention to implement the operation referred to in point (a) is public knowledge.
2. The notification referred to in paragraph 1 shall:
(a)
be given within a reasonable time before the merger, division or other reorganisation takes effect; and
(b)
specify the procedures to be used to fulfil the statistical reporting requirements established in this Regulation.
The NCBs shall exercise the right to verify or to collect compulsorily the information which IFs, OFIs or MFIs are required to provide pursuant to this Regulation, without prejudice to the ECB’s right to exercise these rights itself. In particular, the NCBs shall exercise this right when an institution included in the actual reporting population does not fulfil the minimum standards for transmission, accuracy, compliance with concepts and revisions specified in Annex IV.
IFs, OFIs or MFIs shall continue to report all statistical information relating to the period to which the statistical information relates up to and including November 2025 as required under Regulation (EU) No 1073/2013 of the European Central Bank (ECB/2013/38) ( 17 ) to the relevant NCB in accordance with Articles 5 and 9 of that Regulation.
Taking account of the views of the Statistics Committee, the ECB’s Executive Board shall make any necessary technical amendments to the Annexes provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden on reporting agents in Member States. The Executive Board shall inform the Governing Council of any such amendment without undue delay.
Decision (EU) 2015/32 of the European Central Bank (ECB/2014/62) ( 18 ) is repealed with effect from 1 December 2025.
1. Regulation (EU) No 1073/2013 of the European Central Bank (ECB/2013/38) is repealed with effect from 1 December 2025.
2. References to the repealed Regulation (EU) No 1073/2013 (ECB/2013/38) shall be construed as references to this Regulation and shall be read in accordance with the correlation table set out in Annex V.
This Regulation shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union .
It shall apply from 1 December 2025, with the exception of Article 10, which shall apply from the entry into force of this Regulation.
ANNEX I
STATISTICAL REPORTING REQUIREMENTS
Reporting tables
TABLE 1
Stocks
Data required to be provided on a monthly basis
IFs report: (i) the black cells; (ii) s-b-s information requested in Table 3 for securities items 2, 3a, 3b, 4 and 9; and (iii) the grey cells for those securities items that are not collected on an s-b-s basis.
Total
Euro area
Rest of the world
Domestic
Euro area Member States other than domestic
Euro area Member States other than domestic (country-by-country information)
Total
Non-participating Member States
Non-participating Member States (country-by-country information)
Main counterparties outside the European Union (country-by-country information for Japan, United Kingdom, United States)
ASSETS
1.
Deposits and loan claims
up to 1 year
to MFIs
to GG
to IFs
to OFIs
to FAs
to CFIs
to ICs
to PFs
to NFCs
to HHs & NPISHs
over 1 year
to MFIs
to GG
to IFs
to OFIs
to FAs
to CFIs
to ICs
to PFs
to NFCs
to HHs & NPISHs
of which leveraged loans to NFCs
2.
Debt securities
2e.
Euro
up to 1 year
issued by MFIs
over 1 year and up to 2 years
issued by MFIs
over 2 years
issued by MFIs
2x.
Foreign currencies
up to 1 year
issued by MFIs
over 1 year and up to 2 years
issued by MFIs
over 2 years
issued by MFIs
2t.
Total currencies
up to 1 year
issued by GG
issued by IFs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
issued by HHs & NPISHs
over 1 year and up to 2 years
issued by GG
issued by IFs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
issued by HHs & NPISHs
over 2 years
issued by GG
issued by IFs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
issued by HHs & NPISHs
3.
Equity
3a.
Equity of which listed shares
issued by MFIs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
3b.
Equity of which unlisted shares
issued by MFIs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
3c.
Equity of which other equity
issued by MFIs
issued by OFIs
issued by FAs
issued by CFIs
issued by ICs
issued by PFs
issued by NFCs
4.
IF shares/units
issued by MFIs
issued by non-MFIs
(2+3+4) of which securities lent out or sold under repurchase agreements
5.
Financial derivatives
6.
Non-financial assets
of which residential real estate
of which commercial real estate
of which industrial real estate
of which other real estate
of which offices
7.
Remaining assets
LIABILITIES
8.
Loans and deposits received
up to 1 year
from MFIs
from GG
from IFs
from OFIs
from FAs
from CFIs
from ICs
from PFs
from NFCs
from HHs & NPISHs
over 1 year
from MFIs
from GG
from IFs
from OFIs
from FAs
from CFIs
from ICs
from PFs
from NFCs
from HHs & NPISHs
of which revolving loans and overdrafts
from MFIs
from non-MFIs
9.
IF shares/units
( 1 )
held by MFIs
held by GG
held by IFs
held by OFIs
held by FAs
held by CFIs
held by ICs
held by PFs
held by NFCs
held by HHs & NPISHs
10.
Financial derivatives
11.
Remaining liabilities
Abbreviations used in this table: IF = investment fund, MFI = monetary financial institution, GG = general government, OFI = other financial intermediaries, except insurance corporations and pension funds, FA = financial auxiliaries, CFI = captive financial institutions and money lenders, IC = insurance corporation, PF = pension fund, NFC = non-financial corporation, HH = household, NPISH = non-profit institution serving households
TABLE 2
Revaluation adjustments or transactions
Data required to be provided on a monthly basis
IFs report: (i) the black cells marked 'MINIMUM'; (ii) s-b-s information requested in Table 3 for securities items 2, 3a, 3b, 4 and 9; and (iii) the grey cells marked 'MINIMUM' for securities items that are not collected on an s-b-s basis.
The NCBs may extend these requirements to: (i) the black cells that do not contain the word 'MINIMUM'; and (ii) the grey cells that do not contain the word 'MINIMUM' for those securities items that are not collected on an s-b-s basis.
Total
Euro area
Rest of the world
Domestic
Euro area Member States other than domestic
Euro area Member States other than domestic (country-by-country information)
Total
Non-participating Member States
Non-participating Member States (country-by-country information)
Main counterparties outside the European Union (country-by-country information for Japan, United Kingdom, United States)
ASSETS
1.
Deposits and loan claims
up to 1 year
to MFIs
to GG
to IFs
to OFIs
to FAs
to CFIs
to ICs
to PFs
to NFCs
to HHs & NPISHs
over 1 year
to MFIs
to GG
to IFs
to OFIs
to FAs
to CFIs
to ICs
to PFs
to NFCs
to HHs & NPISHs
of which leveraged loans to NFCs
2.
Debt securities
2e.
Euro
up to 1 year
issued by MFIs
over 1 year and up to 2 years
issued by MFIs
over 2 years
issued by MFIs
2x.
Foreign currencies
up to 1 year
issued by MFIs
over 1 year and up to 2 years
issued by MFIs
over 2 years
issued by MFIs
2t.
Total currencies
up to 1 year
MINIMUM
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by GG
MINIMUM
MINIMUM
issued by IFs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
issued by HHs & NPISHs
over 1 year and up to 2 years
MINIMUM
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by GG
MINIMUM
MINIMUM
issued by IFs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
issued by HHs & NPISHs
over 2 years
MINIMUM
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by GG
MINIMUM
MINIMUM
issued by IFs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
issued by HHs & NPISHs
3.
Equity
3a.
Equity of which listed shares
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
3b.
Equity of which unlisted shares
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
3c.
Equity of which other equity
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by OFIs
MINIMUM
MINIMUM
issued by FAs
MINIMUM
MINIMUM
issued by CFIs
MINIMUM
MINIMUM
issued by ICs
MINIMUM
MINIMUM
issued by PFs
MINIMUM
MINIMUM
issued by NFCs
MINIMUM
MINIMUM
4.
IF shares/units
MINIMUM
MINIMUM
issued by MFIs
MINIMUM
MINIMUM
issued by non-MFIs
MINIMUM
MINIMUM
(2+3+4) of which securities lent out or sold under repurchase agreements
5.
Financial derivatives
MINIMUM(2)
MINIMUM(2)
MINIMUM(2)
6.
Non-financial assets
MINIMUM(2)
of which residential real estate
of which commercial real estate
of which industrial real estate
of which other real estate
of which offices
7.
Remaining assets
LIABILITIES
8.
Loans and deposits received
up to 1 year
from MFIs
from GG
from IFs
from OFIs
from FAs
from CFIs
from ICs
from PFs
from NFCs
from HHs & NPISHs
over 1 year
from MFIs
from GG
from IFs
from OFIs
from FAs
from CFIs
from ICs
from PFs
from NFCs
from HHs & NPISHs
of which revolving loans and overdrafts
from MFIs
from non-MFIs
9.
IF shares/units
( 2 )
MINIMUM
held by MFIs
held by GG
held by IFs
held by OFIs
held by FAs
held by CFIs
held by ICs
held by PFs
held by NFCs
held by HHs & NPISHs
Issuance of IF shares/units ( 4 )
MINIMUM
Redemption of IF shares/units ( 4 )
MINIMUM
10.
Financial derivatives
MINIMUM(2)
MINIMUM(2)
MINIMUM(2)
11.
Remaining liabilities
Abbreviations used in this table: IF = investment fund, MFI = monetary financial institution, GG = general government, OFI = other financial intermediaries, except insurance corporations and pension funds, FA = financial auxiliaries, CFI = captive financial institutions and money lenders, IC = insurance corporation, PF = pension fund, NFC = non-financial corporation, HH = household, NPISH = non-profit institution serving households
TABLE 3
Required security-by-security information
Data for the fields in the table below must be reported for each security classified under the categories ‘debt securities’, ‘equity’ and ‘IF shares/units’ in Tables 1 and 2 in accordance with the following rules.
1.
Data for field 1 must be reported. If a security has an ISIN code, the ISIN code must be reported.
2.
If the relevant NCB does not directly collect security-by-security information on transactions, data for two out of the three fields 2, 3 and 4 must be reported (i.e. fields 2 and 3; fields 2 and 4; or fields 3 and 4).
3.
If the relevant NCB directly collects security-by-security information on transactions, data for the following fields must also be reported:
(a)
field 5; or fields 6 and 7; and
(b)
field 4; or fields 2 and 3.
4.
The relevant NCB may also require IFs to report data for field 8.
5.
The relevant NCB may choose only to collect data for field 2 in points (2) and (3)(b).
6.
Additionally, for each security without an ISIN code, or another valid identification code in accordance with the relevant NCB’s instructions, data must be reported in accordance with the following rules.
(a)
Data for fields 9 and 10 must be reported. If the issuer of the security has a Legal Entity Identifier (LEI), the LEI must be reported.
(b)
Data for fields 11, 12 and 13 must be reported. The relevant NCB may choose not to collect these data if data reported for field 10 is a (LEI), a national identification code specified on the ECB website or another identification code it deems valid.
(c)
For each security classified under the category ‘debt securities’, data for fields 14, 15 and 16 must be reported. The relevant NCB may choose not to collect data for field 16 if it can derive it from other collected data by using methodology previously agreed with the ECB.
(d)
Where the relevant NCB has granted a derogation pursuant to Article 10(8), it may collect the data on an aggregated basis, broken down by instrument/maturity categories and counterparties.
Field
Title
1
Security identifier code
2
Number of units or aggregated nominal amount
3
Price
4
Total amount
5
Financial transactions
6
Securities purchased (assets) or issued (liabilities)
7
Securities sold (assets) or redeemed (liabilities)
8
Currency of recording of the security
9
Instrument:
—
debt securities (F.3)
—
equity of which listed shares (F.511)
—
equity of which unlisted shares (F.512)
—
MMF shares/units (F.521)
—
Non-MMF IF shares/units (F.522)
10
Issuer identification code
11
Issuer name
12
Issuer country
13
Sector or subsector of the issuer:
—
central bank (S.121)
—
deposit-taking corporations except central bank (S.122)
—
MMF (S.123)
—
Non-MMF IFs (S.124)
—
other financial intermediaries, except insurance corporations and pension funds (S.125)
—
financial auxiliaries (S.126)
—
captive financial institutions and money lenders (S.127)
—
insurance corporations (S.128)
—
pension funds (S.129)
—
non-financial corporations (S.11)
—
central government (excluding social security funds) (S.1311)
—
state government (excluding social security funds) (S.1312)
—
local government (excluding social security funds) (S.1313)
—
social security funds (S.1314)
—
households (S.14)
—
non-profit institutions serving households (S.15)
14
Issue date
15
Maturity date
16
Accrued interest
TABLE 4
Required income and fee information
Field
Item
1
Income received
2
Dividends paid
3
Fees paid by the shareholders to the IF
Note:
Fields 1 and 2 are reported for each share class issued by the IF.
TABLE 5
Required IF classification information
Data for the fields in the table below must be reported for each IF.
Field
Title
1
Identifier code
2
Name
3
Country of residence
4
Birth date
5
Management company
6
Management company ID
7
Dividend distribution policy:
—
distribution fund
—
cumulative fund
—
mixed dividend distribution fund
8
IFs with sub-funds:
—
IF is sub-fund of an umbrella fund
—
IF is an umbrella fund
—
identifier (e.g. RIAD code) of the umbrella fund (if applicable)
9
Investment policy:
—
bond
—
equity
—
mixed
—
real estate
—
hedge
—
loan/credit
—
commodity
—
infrastructure
—
other
10
Investment style:
—
active
—
passive synthetic
—
passive physical
11
Geographical focus:
—
domestic
—
Europe (European Economic Area (EEA))
—
Europe (other than EEA)
—
North America
—
South America
—
Asia / Pacific
—
Middle East
—
Africa
—
supranational / multiple region
12
Open / closed-end
13
Focus of bond investments:
—
corporate bond
—
government bond
—
mixed corporate / government bond
14
Listing status
15
Undertakings for collective investments in transferable securities (UCITS) / Alternative Investment Funds (AIF) compliance:
—
UCITS compliant
—
not UCITS compliant, AIF compliant
—
of which shares authorised to be marketed to retail investors
—
not UCITS compliant, not AIF compliant
16
Investor base:
—
predominantly professional investors
—
predominantly retail investors
—
mixed professional investors / retail investors
17
Type of real estate fund
—
residential
—
commercial
—
industrial
—
multi-strategy
—
other
—
not applicable
18
Exchange-traded fund
19
Private equity fund
20
Real estate investment trust
21
Redemption frequency:
—
daily
—
weekly
—
monthly
—
quarterly
—
biannual
—
yearly
—
only at the end of maturity
—
other / irregular
22
Environmental, social and governance (ESG) compliance:
—
Sustainable Finance Disclosure Regulation ( 5 ) (SFDR) Article 8 compliant
—
Sustainable Finance Disclosure Regulation (SFDR) Article 9 compliant
—
other
( 1 ) If the reporting agent is not in a position to directly identify the residency and sector of the holder, it reports the relevant data on the basis of available information. In the case of bearer shares, the information may be collected from MFIs or OFIs (as specified in Articles 6(3) and 10(9) of this Regulation).
( 2 ) If the reporting agent is not in a position to directly identify the residency and sector of the holder, it reports the relevant data on the basis of available information. In the case of bearer shares, the information may be collected from MFIs or OFIs (as specified in Articles 6(3) and 10(9) of this Regulation).
( 3 ) IFs are not required to report this item, if the monthly stocks listed in Table 1 represent less than 5 % of IF shares/units issued.
( 4 ) Transactions
( 5 ) Regulation (EU) 2019/2088 of the European Parliament and of the Council of 27 November 2019 on sustainability-related disclosures in the financial services sector ( OJ L 317, 9.12.2019, p. 1 ).
ANNEX II
DESCRIPTIONS
Part 1
Descriptions of instrument categories
1.
This table provides a detailed standard description of the instrument categories, which national central banks (NCBs) transpose into national categories in accordance with this Regulation. The table does not constitute a list of individual financial instruments and the descriptions are not exhaustive. The definitions refer to the European system of national and regional accounts in the European Union (hereinafter the ‘ESA 2010’) laid down by Regulation (EU) No 549/2013.
2.
Original maturity, i.e. maturity at issue, refers to the fixed period of life of a financial instrument before which it cannot be redeemed, e.g. debt securities, or before which it can be redeemed only with some kind of penalty, e.g. some types of deposits. All required maturity breakdowns refer to the original maturity of the financial instrument.
3.
Financial claims can be distinguished by whether they are negotiable or not. A claim is negotiable if its ownership is readily capable of being transferred from one unit to another by delivery or endorsement or of being offset in the case of financial derivatives. While any financial instrument can be potentially traded, negotiable instruments are designed to be traded on an organised exchange or ‘over-the-counter’, although actual trading is not a necessary condition for negotiability.
TABLE A
Descriptions of instrument categories of the assets and liabilities of IFs
ASSET CATEGORIES
Category
Description of main features
1.
Deposits and loan claims
For the purposes of the reporting scheme, this category consists of funds lent by IFs to borrowers, or loans acquired by IFs, which are either evidenced by non-negotiable documents or not evidenced by documents.
This category includes:
—
deposits placed by the IF, such as overnight deposits, deposits with agreed maturity and deposits redeemable at notice;
—
holdings of non-negotiable securities:
—
holdings of debt securities which are not negotiable and cannot be traded on secondary markets;
—
traded loans;
—
loans that have de facto become negotiable are classified under the category ‘deposits and loan claims’ provided that there is no evidence of secondary market trading. Otherwise they are classified as debt securities;
—
subordinated debt in the form of deposits or loans: subordinated debt instruments provide a subsidiary claim on the issuing institution that can only be exercised after all claims with a higher status have been satisfied, giving them some of the characteristics of equity. For statistical purposes, subordinated debt is classified as either ‘loans’ or ‘debt securities’ according to the nature of the instrument. Where the IF’s holdings of all forms of subordinated debt are currently identified as a single figure for statistical purposes, this figure is classified under the category ‘debt securities’, on the grounds that subordinated debt is predominantly constituted in the form of debt securities, rather than as loans;
—
claims under reverse repos against cash collateral:
—
counterpart of cash paid out in exchange for securities purchased by IFs at a given price under a firm commitment to resell the same or similar securities at a fixed price on a specified future date;
—
claims under securities borrowing against cash collateral:
—
counterpart of cash paid in exchange for securities borrowed by IFs;
—
Leveraged loans are syndicated loans extended to corporations with low (below investment grade) credit quality.
For the purposes of this Regulation, this category also includes holdings of euro and foreign currency banknotes and coins in circulation that are commonly used to make payments
2.
Debt securities
Holdings of debt securities, which are negotiable financial instruments serving as evidence of debt, are usually traded on secondary markets or can be offset on the market, and do not grant the holder any ownership rights over the issuing institution.
This category includes:
—
holdings of securities which give the holder the unconditional right to a fixed or contractually determined income in the form of coupon payments and/or a stated fixed sum at a specific date or dates, or starting from a date defined at the time of issue;
—
traded loans which have become negotiable on an organised market, provided that there is evidence of secondary market trading, including the existence of market makers, and frequent quotation of the financial asset, such as provided by bid-offer spreads. Where this is not the case they are classified as ‘deposits and loan claims’;
—
subordinated debt in the form of debt securities.
Securities lent out under securities lending operations or sold under a repurchase agreement remain on the original owner’s balance sheet (and are not recorded on the temporary acquirer’s balance sheet) where there is a firm commitment to reverse the operation and not simply an option to do so. Where the temporary acquirer sells the securities received, this sale must be recorded as an outright transaction in securities and entered in the temporary acquirer’s balance sheet as a negative position in the securities portfolio.
3.
Equity
Financial assets that represent property rights in corporations or quasi-corporations. Such financial assets generally entitle the holders to a share in the profits of the corporations or quasi-corporations and to a share in their net assets in the event of liquidation.
This category includes listed and unlisted shares and other equity.
Equity securities lent out under securities lending operations or sold under a repurchase agreement, are treated in accordance with the description in category 2 ‘debt securities’.
3a.
Equity of which listed shares
Listed shares are equity securities listed on an exchange. Such an exchange may be a recognised stock exchange or any other form of secondary market. Listed shares are also referred to as quoted shares. The existence of quoted prices of shares listed on an exchange means that current market prices are usually readily available.
3b.
Equity of which unlisted shares
Unlisted shares are equity securities not listed on an exchange.
3c.
Equity of which other equity
Other equity comprises all forms of equity other than those classified in sub-categories listed shares and unlisted shares.
4.
IF shares/units
This category includes holdings of shares/units issued by MMFs and non-MMF IFs (i.e. IFs other than MMFs) included in the lists of MFIs and IFs for statistical purposes.
MMFs are defined in Article 2(5) of Regulation (EU) 2021/379 (ECB/2021/2).
IFs other than MMFs are defined in Article 2 of this Regulation.
(2 + 3+4) of which securities (debt securities, equity and IF shares/units) lent out or sold under repurchase agreements
This category includes those securities, reported under categories 2 (debt securities), 3 (equity) and 4 (IF shares/units) which have been lent under securities lending operations or sold under repurchase agreements (or any other type of similar operations, such as sell and buy-back transactions).
5.
Financial derivatives
Financial derivatives are financial instruments linked to a specified financial instrument, indicator, or commodity, through which specific financial risks can be traded in financial markets in their own right.
This category includes:
—
options;
—
warrants;
—
futures;
—
forwards;
—
swaps;
—
credit derivatives.
Financial derivatives are recorded at market value on the balance sheet on a gross basis. Individual derivative contracts with positive market values are recorded on the asset side of the balance sheet, and contracts with negative market values on the liability side of the balance sheet.
Gross future commitments arising from derivative contracts should not be entered as on-balance-sheet items.
Financial derivatives may be recorded on a net basis according to different valuation methods. In the event that only net positions are available, or positions are recorded other than at market value, these positions are reported instead.
This category does not include financial derivatives that are not subject to on-balance-sheet recording according to national rules.
When the counterparty is known, the geographical allocation is based on the residency of the counterparty. When the counterparty is not known, for instance in transactions conducted on an organised market, the geographical allocation is based on the residency of the market.
6.
Non-financial assets
Tangible and intangible assets, other than financial assets.
This category includes dwellings, other buildings and structures, machinery and equipment, valuables, intellectual property products such as computer software and databases, and virtual and crypto-assets without a counterpart liability.
This category may include the following, also reported as separate ‘of which’ categories:
—
Residential real estate:
—
Residential real estate is a residence which is occupied by the owner or the lessee of the residence;
—
Commercial real estate:
—
Commercial real estate is a real estate property where goods or services are provided to customers (e.g. hotels, restaurants, retail);
—
Industrial real estate:
—
Industrial real estate is real estate used for industrial purposes, such as those used as factories, logistical centres and storage space;
—
Other real estate:
—
Real estate other than residential, commercial and industrial real estate. This category includes office real estate.
7.
Remaining assets
This is the residual category on the asset side of the balance sheet, defined as ‘assets not included elsewhere’. NCBs may also require under this category individual breakdowns of the following:
—
ccrued interest receivable on deposits and loans;
—
accrued interest on holdings of debt securities;
—
accrued rent receivable;
—
amounts receivable which do not relate to the IF’s main business.
LIABILITY CATEGORIES
Category
Description of main features
8.
Loans and deposits received
Amounts owed to creditors by the IF, other than those arising from the issue of negotiable securities.
This category consists of:
—
loans granted to the IFs which are either evidenced by non-negotiable documents or not evidenced by documents;
—
repos and repo-type operations against cash collateral: counterpart of cash received in exchange for securities sold by the IF at a given price under a firm commitment to repurchase the same (or similar) securities at a fixed price on a specified future date. Amounts received by the IF in exchange for securities transferred to a third party (‘temporary acquirer’) are to be classified here where there is a firm commitment to reverse the operation and not merely an option to do so. This implies that the IF retains all risks and rewards of the underlying securities during the operation;
—
cash collateral received in exchange for securities lending: amounts received in exchange for securities temporarily transferred to a third party in the form of securities lending operations against cash collateral;
—
cash collateral received in operations involving the temporary transfer of gold against collateral.
This category may include revolving loans and overdrafts, also reported as separate ‘of which’ categories.
Revolving loans are loans that have all the following features: (i) the borrower may use or withdraw funds to a pre-approved credit limit without giving prior notice to the lender; (ii) the amount of available credit can increase and decrease as funds are borrowed and repaid; (iii) the credit may be used repeatedly.
Revolving loans include the amounts obtained through a line of credit and not yet repaid (outstanding amounts). A line of credit is an agreement between a lender and borrower that allows a borrower to take advances, during a defined period and up to a certain limit, and repay the advances at his discretion before a defined date. Amounts available through a line of credit that have not been withdrawn or have already been repaid are not to be considered under any balance sheet items category.
Overdrafts are debit balances on current accounts. The total amount owed is to be reported, irrespective of whether it is within or beyond any limit agreed beforehand between the lender and the borrower with regard to size and/or maximum period of the loan.
9.
IF shares/units
Shares or units, including in the form of equity capital, issued by IFs that are included in the list of IFs for statistical purposes. This category represents the total liability to the IF’s shareholders. Funds arising from non-distributed benefits or funds set aside by the IF in anticipation of likely future payments and obligations are also included.
10.
Financial derivatives
See category 5.
11.
Remaining liabilities
This is the residual category on the liabilities side of the balance sheet, describing the ‘liabilities not included elsewhere’.
NCBs may also require under this category individual breakdowns of the following:
—
debt securities issued;
—
Securities issued by the IF, other than equity, which are instruments usually negotiable and traded on secondary markets or which can be offset on the market and which do not grant the holder any ownership rights over the issuing institution;
—
accrued interest payable on loans and deposits;
—
amounts payable not related to the IF’s main business, i.e. amounts due to suppliers, tax, wages, social contributions, etc.;
—
provisions representing liabilities against third parties, i.e. pensions, dividends, etc.;
—
net positions arising from securities lending without cash collateral;
—
net amounts payable in respect of future settlements of transactions in securities.
Part 2
Descriptions of attributes of security-by-security information
TABLE B
Descriptions of attributes of security-by-security information
Field
Description of main attributes
Security identifier code
A code that uniquely identifies a security. It may be the ISIN code or another security identifier code, subject to the NCB’s instructions.
‘ISIN code’ means the International Securities Identification Number assigned to securities, composed of 12 alphanumeric characters, which uniquely identifies a securities issue (as defined by ISO 6166).
Number of units or aggregated nominal amount
Number of units of a security or aggregated nominal amount if the security is traded in amounts rather than in units.
Price
Market price per unit of a security or percentage of the aggregated nominal amount if the security is traded in amounts rather than in units. NCBs may also require accrued interest under this position.
Total amount
Total market value of a security. Where securities are traded in units, this amount equals the number of securities multiplied by the price per unit. Where securities are traded in amounts rather than in units, this amount equals the aggregated nominal amount multiplied by the price expressed as a percentage.
NCBs may also require accrued interest under this position.
Financial transactions
The sum of purchases minus sales (securities on the asset side) or issues minus redemptions (securities on the liability side) of a security recorded at transaction value.
Securities purchased (assets) or issued (liabilities)
The sum of purchases (securities on the asset side) or issues (securities on the liability side) of a security recorded at transaction value.
Securities sold (assets) or redeemed (liabilities)
The sum of sales (securities on the asset side) or redemptions (securities on the liability side) of a security recorded at transaction value.
Currency of recording of the security
ISO code or equivalent of the currency used to express the price and/or the outstanding amount of the security.
Instrument
As defined in Table A, categories 2, 3 and 4.
Issuer identification code
A standard code, agreed with the relevant NCB that uniquely identifies an issuer and information on the identifier type of the code that is used, e.g. EU identifier or national identifier.
Issuer name
Full legal name of the issuer.
Issuer country
ISO code or equivalent of the country of residency of the issuer.
Issue date
The date on which the securities are delivered to the underwriter by the issuer against payment. This is the date when the securities are available for delivery to investors for the first time.
Maturity date
Date on which the debt instrument is actually redeemed.
Accrued interest
Interest accrued since the last coupon payments or the accrual start date.
Part 3
Descriptions of sectors
The ESA 2010 provides the standards for sector classification in the Member States. This table provides a detailed standard description of sectors which NCBs transpose into national categories in accordance with this Regulation. Counterparties located in the euro area are identified according to their sector in accordance with the lists maintained by the European Central Bank (ECB) for statistical purposes and the guidance for the statistical classification of counterparties provided in the ECB’s ‘Monetary financial institutions and markets statistics sector manual: Guidance for the statistical classification of customers’.
TABLE C
Descriptions of sectors
Sector
Descriptions
1.
MFIs
MFIs as defined in Article 2, point (1), of Regulation (EU) 2021/379 (ECB/2021/2).
2.
General government
The general government sector (S.13) consists of institutional units which are non-market producers whose output is intended for individual and collective consumption, and which are financed by compulsory payments made by units belonging to other sectors, and institutional units principally engaged in the redistribution of national income and wealth (ESA 2010, paragraphs 2.111 to 2.113).
Central government
This subsector (S.1311) includes all administrative departments of the state and other central agencies whose competence extends normally over the whole economic territory, except for the administration of social security funds (ESA 2010, paragraph 2.114). For the purpose of this Regulation, central government also includes Union institutions and bodies which are classified in the general government sector (S.13).
State government
This subsector (S.1312) consists of those types of public administration which are separate institutional units exercising some of the functions of government, except for the administration of social security funds, at a level below that of central government and above that of the governmental institutional units existing at local level (ESA 2010, paragraph 2.115).
Local government
This subsector (S.1313) includes those types of public administration whose competence extends to only a local part of the economic territory, apart from local agencies of social security funds (ESA 2010, paragraph 2.116).
Social security funds
The social security funds subsector (S.1314) includes central, state and local institutional units whose principal activity is to provide social benefits and which fulfil each of the following two criteria: (a) by law or by regulation certain groups of the population are obliged to participate in the scheme or to pay contributions; and (b) general government is responsible for the management of the institution in respect of the settlement or approval of the contributions and benefits independently from its role as supervisory body or employer. There is usually no direct link between the amount of the contribution paid by an individual and the risk to which that individual is exposed (ESA 2010, paragraph 2.117).
3.
Non-MMF IFs
IFs as defined in Article 2, point (1), of this Regulation.
4.
Other financial intermediaries, except insurance corporations and pension funds
The other financial intermediaries, except insurance corporations and pension funds subsector (S.125) consists of all financial corporations and quasi-corporations which are principally engaged in financial intermediation by incurring liabilities in forms other than currency, deposits (or close substitutes for deposits), IF shares/units, or in relation to insurance, pension and standardised guarantee schemes from institutional units. FVCs as defined in Regulation (EU) No 1075/2013 of the European Central Bank (ECB/2013/40) ( 1 ) are included in this subsector (ESA 2010, paragraphs 2.86 to 2.94).
5.
Financial auxiliaries
The financial auxiliaries subsector (S.126) consists of all financial corporations and quasi-corporations which are principally engaged in activities closely related to financial intermediation but which are not financial intermediaries themselves. This subsector also includes head offices whose subsidiaries are all or mostly financial corporations (ESA 2010, paragraphs 2.95 to 2.97).
6.
Captive financial institutions and money lenders
The captive financial institutions and money lenders subsector (S.127) consists of all financial corporations and quasi-corporations which are neither engaged in financial intermediation nor in providing financial auxiliary services, and where most of either their assets or their liabilities are not transacted on open markets. This subsector includes holding companies that hold controlling-levels of equity of a group of subsidiary corporations and whose principal activity is owning the group without providing any other service to the businesses in which the equity is held, that is, they do not administer or manage other units (ESA 2010, paragraphs 2.98 and 2.99).
7.
Insurance corporations
The insurance corporations subsector (S.128) consists of all financial corporations and quasi-corporations which are principally engaged in financial intermediation as a consequence of the pooling of risks mainly in the form of direct insurance or reinsurance (ESA 2010, paragraphs 2.100 to 2.104).
8.
Pension funds
The pension funds subsector (S.129) consists of all financial corporations and quasi-corporations which are principally engaged in financial intermediation as the consequence of the pooling of social risks and needs of the insured persons (social insurance). Pension funds as social insurance schemes provide income in retirement, and often benefits for death and disability (ESA 2010, paragraphs 2.105 to 2.110).
9.
Non-financial corporations
The non-financial corporations sector (S.11) consists of institutional units which are independent legal entities and market producers, and whose principal activity is the production of goods and non-financial services. This sector also includes non-financial quasi-corporations (ESA 2010, paragraphs 2.45 to 2.50).
10.
Households
The households sector (S.14) consists of individuals or groups of individuals as consumers and as entrepreneurs producing market goods and non-financial and financial services (market producers) provided that the production of goods and services is not by separate entities treated as quasi-corporations. It also includes individuals or groups of individuals as producers of goods and non-financial services for exclusively own final use. The household sector includes sole proprietorships and partnerships without independent legal status, other than those treated as quasi-corporations, which are market producers (ESA 2010, paragraphs 2.118 to 2.128).
11.
Non-profit institutions serving households
The non-profit institutions serving households (NPISHs) sector (S.15) consists of non-profit institutions which are separate legal entities, which serve households and are private non-market producers. Their principal resources are voluntary contributions in cash or in kind from households in their capacity as consumers, from payments made by general government and from property income (ESA 2010, paragraphs 2.129 and 2.130).
Part 4
Descriptions of income and fee information
TABLE D
Descriptions of income and fee information
Field
Description
Income received
Income received by the IF during the period, allocated to each share class issued by the IF.
Dividends paid
Funds paid by the IF to its shareholders in the form of dividends, or other equivalent distributions, during the period, allocated to each share class issued by the IF.
Fees paid by the shareholders to the IF
Fees paid by the shareholders to the IF during the period, in the form of payments deducted from the IF’s assets and excluding fees paid directly by shareholders to third parties other than the IF. They consist of the types ‘recurring costs’ and ‘incidental costs’ of the IF as described in Annex VI to Commission Delegated Regulation (EU) 2017/653 ( 2 ) .
Part 5
Descriptions of IF classification attributes
TABLE E
Descriptions of IF classification attributes
Field
Description of IF classification attributes
Identifier code
‘Legal Entity Identifier’ or ‘LEI’ is an alphanumeric reference code in line with the ISO 17442 standard assigned to a legal entity.
‘RIAD code’ is the unique identifier for the Register of Institutions and Affiliates Data (RIAD) created by the competent NCB or by the ECB to identify an entity recorded.
Other (e.g. national) entity identifier (type and code) is any other identification code for the IF.
In order of priority, the code used shall be LEI, RIAD code or other entity identifier.
Name
Full legal name of the IF.
Country of residence
Country where the IF is resident.
Birth date
Date when the IF was first established.
Management company
A company, the regular business of which is the management of the investment fund.
Management company ID
Identification code of the management company. In order of priority, the code used shall be LEI, RIAD code or any other (e.g. national) entity identifier.
Dividend distribution policy
Distribution fund is an IF which predominantly (more than 50 %) pays out the income it receives to its shareholders as cash.
Cumulative fund is an IF which predominantly (more than 50 %) reinvests the income it receives in accordance with its investment policy.
Mixed dividend distribution fund is an IF which uses the income it receives both to pay out to its shareholders as cash and to reinvest in accordance with its investment policy.
Investment funds with sub-funds
Umbrella fund is an entity which segregates its assets into different units (sub-funds) in such a way that shares/units relating to each unit are independently backed by different assets.
Sub-fund of an umbrella fund is a unit which holds segregated assets of an umbrella fund, backing shares/units issued by the sub-fund.
Investment policy
Equity funds are IFs primarily investing in equity.
Bond funds are IFs primarily investing in debt securities.
Mixed funds are IFs investing in both equity and bonds with no prevailing policy in favour of one or the other instrument.
Real estate funds are IFs primarily investing in real estate.
Hedge funds are any collective investment undertakings regardless of their legal structure under national legislation, which apply relatively unconstrained investment strategies to achieve positive absolute returns, and whose managers, in addition to management fees, are remunerated in relation to the fund’s performance. For that purpose, hedge funds have few restrictions on the type of financial instruments in which they may invest and may therefore flexibly employ a wide variety of financial techniques, involving leverage, short-selling or any other techniques. This description also covers IFs that invest, in full or in part, in other hedge funds provided that they otherwise meet the description.
Loan / credit funds are IFs primarily investing in loans.
Commodity funds are IFs primarily investing in commodities.
Infrastructure funds are IFs primarily investing in public building infrastructure such as schools, hospitals or prisons, social infrastructure such as social housing, transport infrastructure such as roads, mass transit systems or airports, energy infrastructure such as energy grids, climate adaptation and mitigation projects, power plants or pipelines, water management infrastructure such as water supply systems, sewage or irrigation systems, communication infrastructure such as networks, and waste management infrastructure such as recycling or collection systems.
Other funds are IFs other than bond funds, equity funds, mixed funds, real estate funds, hedge funds, loan / credit funds, commodity funds or infrastructure funds.
The classification of IFs by their investment policy may differ across countries. In some countries, the classification is subject to specific regulatory provisions.
Active / passive
Active IFs are IFs whose managers have discretionary choice on investment decisions. These IFs may, but do not have to, be managed in reference to a stated benchmark.
Passive synthetic IFs pursue an index-tracking objective by means of synthetic replication, using financial derivatives such as swaps to replicate the returns of the index they are tracking.
Passive physical IFs pursue an index-tracking objective by means of physical replication, holding the assets, or a sample of the assets, underlying the index they are tracking.
Geographical focus
Region of investment is determined on the basis of predominant (more than 50 %) domicile of the assets held, in terms of their value.
‘Domestic’ means the IF predominantly invests in assets issued by residents in the same country as the investment fund.
Europe (EEA), Europe (other than EEA), North America, South America, Asia / Pacific, Middle East and Africa have the same meaning as in the European Securities and Markets Authority (ESMA) Guidelines (ESMA/2014/869EN) ( 3 ) .
Supranational / multiple region means the IF predominantly primarily invests in assets issued by supranational entities or it does not predominantly primarily invest in any single geographical region defined above
Open / closed-end
Open-end IFs are IFs whose units or shares are, at the request of the holders, repurchased or redeemed directly or indirectly out of the undertaking’s assets.
Closed-end IFs are IFs with a fixed number of issued shares whose shareholders have to buy or sell existing shares to enter or leave the fund.
Corporate / government bond funds
Government bond funds predominantly (more than 50 %) invest in debt securities issued by governments.
Corporate bond funds predominantly (more than 50 %) invest in debt securities issued by financial and non-financial corporations.
The classification of IFs by their investment policy may differ across countries. In some countries, the classification is subject to specific regulatory provisions.
Listing status
Listed IFs have shares listed on a stock exchange or other organised marketplace.
Non-listed IFs do not have shares listed on a stock exchange or other organised marketplace.
UCITS / AIF compliance
Undertakings for collective investments in transferable securities (UCITS) are IFs that have been established in accordance with Directive 2009/65/EC.
Alternative investment funds (AIFs) are IFs that have been established in accordance with Directive 2011/61/EU.
‘Non-UCITS compliant, AIF compliant
- of which shares are authorised to be marketed to retail investors’
is an IF which has received the relevant authorisation in accordance with Article 43 of Directive 2011/61/EU.
Investor base
Investor base is determined on the basis of predominant (more than 50 %) type of shareholders, in terms of their value.
‘Professional investor’ is an entity that meets the criteria for professional client in Annex II to Directive 2014/65/EU.
‘Retail investor’ is an investor who is not a ‘professional investor’.
Type of real estate fund
Residential real estate funds predominantly (more than 50 %) invest in residential property.
Residential property is a residence which is occupied by the owner or the lessee of the residence. (Article 4(1), point (75), of Regulation (EU) No 575/2013 of the European Parliament and of the Council ( 4 )
Commercial real estate funds predominantly (more than 50 %) invest in real estate used for commercial purposes, such as retail and hotels.
Industrial real estate funds predominantly (more than 50 %) invest in real estate used for manufacturing, production, storage and distribution of goods.
Multi-strategy real estate funds invest in residential, commercial and industrial real estate, without a predominant focus on any.
Other real estate funds are real estate funds which are not residential, commercial, industrial or multi-strategy real estate funds.
Exchange -traded fund
Exchange traded fund (ETF) is a ‘UCITS ETF’ as defined in paragraph 3, fourth subparagraph of ESMA Guidelines (ESMA/2012/832) ( 5 ) . ESMA defines a UCITS ETF as a UCITS at least one unit or share class of which is traded throughout the day on at least one regulated market or Multilateral Trading Facility with at least one market maker that takes action to ensure that the stock exchange value of its units or shares does not significantly vary from its net asset value and where applicable its Indicative Net Asset Value. Non-UCITS IFs that comply with the ESMA ETF definition should be included here.
Private equity fund
Private equity funds (PEFs) are unleveraged IFs that predominantly invest in equity instruments and instruments that are economically similar to equity instruments issued by unlisted companies. A sub-category of PEFs is venture capital funds (VCFs), which invest in start-up companies. PEFs (including VCFs) are normally constituted as closed-end funds or as limited partnerships managed by a private equity company (PEC) or a venture capital company (VCC) in the case of VCFs. While PEFs (including VCFs) are classified as IFs in line with Article 2 of this Regulation, PECs and VCCs are classified as financial auxiliaries (ESA 2010 subsector S.126) if they solely manage the assets of PEFs and VCFs; and as other financial intermediaries (ESA 2010, subsector S.125) if they invest on their own account in private equity.
Real estate investment trust
Real estate investment trust (REIT) is an entity that owns or finances income-producing real estate assets and is subject to a dedicated national legal framework defining its legal form, eligible assets and tax regime.
Redemption frequency
Redemption frequency specifies the schedule on which investors in the IF may redeem their shares/units.
Environmental, social and governance (ESG) type
A Sustainable Finance Disclosure Regulation (SFDR) Article 8 compliant IFs are compliant with Regulation (EU) 2019/2088 Article 8, thereby promoting environmental or social characteristics.
Sustainable Finance Disclosure Regulation (SFDR) Article 9 compliant IFs are compliant with Regulation (EU) 2019/2088 Article 9, thereby having sustainable investment as its objective.
Other IFs are not compliant with Article 8 nor Article 9 of Regulation (EU) 2019/2088.
( 1 ) Regulation (EU) No 1075/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2013/40) ( OJ L 297, 7.11.2013, p. 107 ).
( 2 ) Commission Delegated Regulation (EU) 2017/653 of 8 March 2017 supplementing Regulation (EU) No 1286/2014 of the European Parliament and of the Council on key information documents for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards with regard to the presentation, content, review and revision of key information documents and the conditions for fulfilling the requirement to provide such documents ( OJ L 100, 12.4.2017, p. 1 ).
( 3 ) Guidelines on reporting obligations under Articles 3(3)(d) and 24(1), (2) and (4) of the AIFMD (ESMA/2014/869EN), available on the ESMA website at www.esma.europa.eu .
( 4 ) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 ( OJ L 176, 27.6.2013, p. 1 ).
( 5 ) Guidelines for competent authorities and UCITS management companies (ESMA/2012/832EN), available on the ESMA website at www.esma.europa.eu .
ANNEX III
METHODOLOGY FOR REVALUATION ADJUSTMENTS OR TRANSACTIONS
1.
IFs must report revaluation adjustments or transactions, in accordance with the instructions of the relevant national central bank (NCB), as set out in Article 5(1), point (b), of this Regulation. If the actual reporting population reports revaluation adjustments, these will cover either revaluations due to price and exchange rate changes, or only price changes in the reference period, subject to the relevant NCB’s prior approval. If the revaluation adjustment covers only revaluations due to price changes, the relevant NCB collects the necessary data, which should cover as a minimum a currency breakdown into pound sterling, Swiss franc, yen and US dollar in order to derive the revaluations due to exchange rate changes.
2.
‘Financial transactions’ refers to those transactions that arise out of the creation, liquidation or change in ownership of financial assets or liabilities. These transactions are measured in terms of the difference between stock positions at end-period reporting dates, from which the effect of changes due to influences from ‘revaluation adjustments’ (caused by price and exchange rate changes) and ‘reclassifications and other adjustments’ is removed. The European Central Bank requires statistical information for the purpose of compiling transactions in the form of adjustments covering ‘reclassifications and other adjustments’ and ‘price and exchange rate revaluations’. Financial transactions should in principle comply with the ESA 2010, but may deviate due to national practices.
3.
‘Price and exchange rate revaluations’ refers to fluctuations in the valuation of assets and liabilities that arise either from changes in the prices of assets and liabilities and/or the exchange rates that affect the values expressed in euro of assets and liabilities denominated in a foreign currency. The adjustment in respect of price revaluations of assets/liabilities refers to fluctuations in the valuation of assets/liabilities that arise because of a change in the price at which assets/liabilities are recorded or traded. The price revaluations include the changes that occur over time in the value of end-period stocks because of changes in the reference value at which they are recorded, i.e. holding gains/losses. Movements in exchange rates against the euro that occur between end-period reporting dates give rise to changes in the value of foreign currency assets/liabilities when expressed in euro. As these changes represent holding gains/losses and are not due to financial transactions, these effects need to be removed from the transactions data. In principle, ‘price and exchange rate revaluations’ also contain valuation changes that result from transactions in assets/liabilities, i.e. realised gains/losses; however, there are different national practices in this respect.
ANNEX IV
MINIMUM STANDARDS TO BE APPLIED BY THE ACTUAL REPORTING POPULATION
IFs must fulfil the following minimum standards to meet the statistical reporting requirements of the European Central Bank (ECB).
1.
Minimum standards for transmission:
(a)
reporting must be timely and within the deadlines set by the relevant national central bank (NCB);
(b)
statistical reports must take their form and format from the technical reporting requirements set by the relevant NCB;
(c)
the IF must provide the details of one or more contact persons to the relevant NCB;
(d)
the technical specifications for data transmission to the relevant NCB must be followed;
(e)
for reporting of security-by-security information, if the relevant NCB so requests, the IFs must provide further information (e.g. name of issuer, issue date) needed to identify securities whose security identification codes are either erroneous or not publicly available.
2.
Minimum standards for accuracy:
(a)
statistical information must be correct: all linear constraints must be fulfilled (e.g. assets and liabilities must balance, subtotals must add up to totals) and data must be consistent across all frequencies;
(b)
IFs must be able to provide information on the developments implied by the transmitted data;
(c)
statistical information must be complete and must not contain continuous and structural gaps; existing gaps should be acknowledged, explained to the relevant NCB and, where applicable, bridged as soon as possible;
(d)
IFs must follow the dimensions, rounding policy and decimals set by the relevant NCB for the technical transmission of the data.
3.
Minimum standards for compliance with concepts:
(a)
statistical information must comply with the definitions and classifications contained in this Regulation;
(b)
in the event of deviations from these definitions and classifications, IFs must monitor and quantify the difference between the measure used and the measure contained in this Regulation on a regular basis;
(c)
IFs must be able to explain breaks in the transmitted data compared with the previous periods’ figures.
4.
Minimum standards for revisions:
The revisions policy and procedures set by the ECB and the relevant NCB must be followed. Revisions deviating from regular revisions must be accompanied by explanatory notes.
ANNEX V
CORRELATION TABLE
Regulation (EC) No 1073/2013 (ECB/2013/38)
This Regulation
-
Article 1
Article 2
Article 3
Article 4
Article 5
Article 6
-
Article 7
Article 8
Article 9
Article 10
Article 11
Article 12
Article 13
-
-
-
Article 14
Article 15
Annex I, Part 1
Annex I, Part 2
Annex I, Part 3
Annex II, Parts 1 to 3
-
Annex III
Annex IV
Annex V
Article 1
Article 2
Article 3
Article 4
-
Article 5
-
Article 7
Article 9
Article 10
Article 8
Article 11
Article 12
Article 13
-
Article 14
Article 15
Article 16
Article 17
Article 18
-
Article 6
Annex I
Annex II, Parts 1 to 3
Annex II, Parts 4 and 5
Annex III
Annex IV
Annex V
Regulation (EU) 2024/1988 of the European Central Bank of 27 June 2024 concerning statistics on investment funds and repealing Decision (EU) 2015/32 (ECB/2014/62) (ECB/2024/17) (recast) (EUR-Lex). Retrieved via LawPlayer, https://lawplayer.com/eu/act/32024R1988
© European Union, https://eur-lex.europa.eu, 1998-2026. Reuse authorised under Commission Decision 2011/833/EU, provided the source is acknowledged.
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