Transitional provisions for institutions located in other Member States whose currency is the euro
Article 3
1. The maintenance period applicable to institutions located in other Member States whose currency is the euro pursuant to Article 8 of Regulation (EU) 2021/378 (ECB/2021/1) shall remain unaffected by the transitional maintenance period for institutions located in Croatia. 2. Institutions located in other Member States whose currency is the euro may decide to deduct from their reserve base for the maintenance periods from 21 December 2022 to 7 February 2023 and from 8 February to 21 March 2023 any liabilities owed to institutions located in Croatia, although at the time the minimum reserves are calculated such institutions will not appear on the list of institutions subject to minimum reserve requirements referred to in Article 3(3) of Regulation (EU) 2021/378 (ECB/2021/1). 3. Institutions located in other Member States whose currency is the euro that decide to deduct liabilities owed to institutions located in Croatia pursuant to paragraph 2 shall, for the maintenance periods from 21 December 2022 to 7 February 2023 and from 8 February to 21 March 2023, calculate their minimum reserves on the basis of their balance sheets at 31 October 2022 and 31 December 2022 respectively and report statistical information in accordance with Part 1 of Annex III to Regulation (EU) 2021/379 (ECB/2021/2) showing institutions located in Croatia as already subject to the ECB’s minimum reserve system. This shall be without prejudice to the obligation for institutions to report statistical information for the periods concerned in accordance with Table 1 in Part 2 of Annex I to Regulation (EU) 2021/379 (ECB/2021/2), still showing institutions located in Croatia as being banks located in the ‘Rest of the world’. The tables shall be reported in accordance with the time limits and procedures laid down in Regulation (EU) 2021/379 (ECB/2021/2). 4. For the maintenance periods starting in December 2022 and February 2023, institutions located in other Member States whose currency is the euro that benefit from the derogation under Article 9(1) or (2) or Article 9(5), point (a), of Regulation (EU) 2021/379 (ECB/2021/2) and decide to deduct liabilities owed to institutions located in Croatia pursuant to paragraph 2 shall calculate their minimum reserves on the basis of their balance sheet at 30 September 2022 and report statistical information in accordance with Part 1 of Annex III to Regulation (EU) 2021/379 (ECB/2021/2) showing institutions located in Croatia as already subject to the ECB’s minimum reserve system. For the maintenance periods starting in March and May 2023, institutions located in other Member States whose currency is the euro that benefit from the derogation under Article 9(1) or (2) or Article 9(5), point (a), of Regulation (EU) 2021/379 (ECB/2021/2) and decide to deduct liabilities owed to institutions located in Croatia pursuant to paragraph 2 shall calculate their minimum reserves on the basis of their balance sheet at 31 December 2022, and report statistical information in accordance with Part 1 of Annex III to Regulation (EU) 2021/379 (ECB/2021/2) showing institutions located in Croatia as already subject to the ECB’s minimum reserve system. This shall be without prejudice to the obligation for institutions to report statistical information for the periods concerned in accordance with Table 1 in Part 2 of Annex I to Regulation (EU) 2021/379 (ECB/2021/2) still showing institutions located in Croatia as being banks located in the ‘Rest of the world’. The statistical information shall be reported in accordance with the time limits and procedures laid down in Regulation (EU) 2021/379 (ECB/2021/2).