2010年-ECB欧洲央行_MFI_balance_sheet_and_interest_rate_statistics_and_CEBS_guidelines_on_FINREP_and_COREP_132页_2mb

Summary of MFI Balance Sheet and Interest Rate Statistics and CEBS Guidelines on FINREP and COREP

Core Content

This document outlines the methodological manual and relational database developed by the Joint Expert Group on Reconciliation (JEGR) to bridge the statistical and supervisory reporting requirements for monetary financial institutions (MFIs) in the European Union. The JEGR, established in 2008 under the joint sponsorship of the European System of Central Banks (ESCB) and the Committee of European Banking Supervisors (CEBS), aims to align the ECB's statistical reporting (BSI and MIR) with the CEBS' supervisory reporting (FINREP and COREP) by identifying commonalities and differences in definitions, concepts, and valuation rules.

Main Objectives

• BSI (Balance Sheet Items): Provides detailed balance sheet data for the euro area MFI sector, focusing on the consolidation of monetary aggregates and their breakdown by various criteria.
• FINREP (Financial Reporting): Offers a standardised framework for consolidated financial reporting in compliance with international accounting standards (IAS/IFRS), intended to be used by EU supervisory authorities.
• COREP (Capital Requirements Reporting): Contains capital adequacy and risk-related data for credit institutions, including credit, market, and operational risk.
• MIR (MFI Interest Rates): Captures interest rate data for MFIs, based on the European System of Accounts (ESA 95), and is used for monetary policy analysis.

Key Views

• The JEGR's work focuses on reconciliation between statistical and supervisory reporting frameworks to reduce the reporting burden on credit institutions and improve data consistency.
• The methodological bridging manual and relational database are central tools for this reconciliation, allowing for a systematic comparison of data definitions, classification, and valuation rules.
• The ECB and CEBS have implemented some of the JEGR's proposals, particularly in the updated FINREP templates and BSI Regulation.
• The sector classification and accounting rules for reporting have been refined to ensure better alignment between the frameworks.
• The classification system is maintained and updated to reflect changes in regulatory standards and to ensure its continued relevance.

Key Information

Reporting Frameworks

• BSI: Involves the regular production of consolidated balance sheets for the euro area MFI sector. It includes five tables:

  • Table 1: Stocks (monthly), detailed by instrument, sector of counterpart, residency, original maturity, currency, and loan purpose.
  • Table 1A: Revaluation adjustments (monthly), includes revaluation and exchange rate data.
  • Table 2: Sector breakdown (quarterly), provides a more detailed sector analysis.
  • Table 3: Country breakdown (quarterly), offers a breakdown of positions by country.
  • Table 4: Currency breakdown (quarterly), includes detailed currency information.

• FINREP: A standardised financial reporting framework for credit institutions, aligned with IAS/IFRS. It is not mandatory but is recommended for use by national supervisory authorities. It includes both core and non-core data, with the core being mandatory for reporting.

• COREP: Focuses on capital adequacy and risk data, including credit, market, and operational risk. It is used to ensure that credit institutions meet capital requirements.

• MIR: Captures interest rate data for MFIs, used for monetary policy analysis and macroeconomic monitoring.

Reconciliation Proposals

• The JEGR has proposed several reconciliation measures, including:
  • Instrument definitions and classifications to ensure consistency between statistical and supervisory frameworks.
  • Sector classifications for counterparties, particularly for "non-financial corporations" and "households."
  • Accounting rules for recording transactions, which support the compilation of accurate flow statistics.

Implementation and Impact

• The JEGR's proposals have been implemented by the ECB and CEBS, particularly in the FINREP templates and BSI Regulation.
• The relational database is a key tool to help reporting agents identify and understand the links between different reporting requirements.
• The JEGR's work is supported by the European Banking Federation, which has praised its efforts in improving the integration of European financial services markets.
• The classification system is being maintained and updated to reflect changes in standards, including IAS 39 and FINREP, ensuring that it remains relevant and useful.

Conclusions

• The JEGR's work has significantly contributed to the harmonisation of reporting frameworks, making it easier for credit institutions to comply with both statistical and supervisory requirements.
• The methodological bridging manual and relational database are essential tools for ensuring consistency and transparency in reporting.
• The reconciliation proposals aim to reduce the reporting burden and promote synergies between different regulatory frameworks.
• The classification system is crucial for data aggregation and monetary policy analysis, ensuring that the ECB can effectively monitor monetary developments across the euro area.

Annexes

• Annex 1: Relevant legal acts, including the Banking Accounts Directive (BAD) and the European System of Accounts (ESA 95).
• Annex 2: Main methodological elements, detailing the BSI, FINREP, COREP, and MIR frameworks.
• Annex 3: Scope of application of IAS/IFRS, FINREP, and COREP across EU countries.
• Annex 4 and 5: Bridging between BSI and FINREP/COREP, respectively.
• Annex 6: Assessment of the links between BSI and COREP, focusing on operational risk.

Participants and Contributors

• A list of participants in the JEGR is provided, indicating the collaborative nature of the project.

Abbreviations

• AAR: Annualised Agreed Rate
• APRC: Annualised Percentage Rate of Charge
• ASA: Alternative Standardised Approach
• BAD: Banking Accounts Directive
• BSC: Banking Supervision Committee
• BSI: Balance Sheet Items
• CA: Capital Adequacy
• CEBS: Committee of European Banking Supervisors
• CIUs: Collective Investment Undertakings
• COREP: Common Reporting
• CRD: Capital Requirements Directive
• CR EQU IRB: Credit Risk: Equity - Internal Ratings-Based Approach
• CR IRB: Credit Risk: Internal Ratings-Based Approach
• CR SA: Credit Risk: Standardised Approach
• CR SEC IRB: Securitisations - Internal Ratings-Based Approach
• CR SEC SA: Securitisation - Standardised Approach
• CR TB SETT: Settlement Risk in the Trading Book
• ESA 95: European System of Accounts 1995
• FINREP: Financial Reporting
• FV: Fair Value
• FVCs: Financial Vehicle Corporations
• GAAPs: Generally Accepted Accounting Principles
• HHs: Households
• IAS: International Accounting Standards
• IFRS: International Financial Reporting Standards
• IRB: Internal Ratings-Based
• JEGR: Joint Expert Group on Reconciliation
• MBS: Money and Banking Statistics
• MFIs: Monetary Financial Institutions
• MIR: MFI Interest Rates Statistics
• MMFs: Money Market Funds
• NCB: National Central Bank
• NFCs: Non-Financial Corporations
• OPR: Operational Risk
• SA: Standardised Approach
• SNA 93: System of National Accounts 1993
• STC: Statistics Committee (ESCB)

Notes

• The document was published in February 2010.
• The BSI Regulation was updated in December 2008 and March 2009.
• The FINREP framework was also revised in March 2009.
• The relational database is available in MS Access, and the users' guide is in MS Word.
• The classification system is regularly updated to reflect changes in regulatory standards and to ensure its continued relevance.