ECB seeks feedback on draft ECB Regulation on money market statistics

6 August 2018

• Amending Regulation aims to simplify reporting scheme and improve quality of euro money market statistics reported to European System of Central Banks (ESCB)
• ECB asks for feedback by 10 September 2018

The European Central Bank (ECB) has been collecting data on the euro money market since 1 July 2016 on the basis of Regulation ECB/2014/48 concerning statistics on the money markets: the Money Market Statistical Reporting (MMSR) Regulation. Since then, detailed data have been reported by the largest euro area banks on transactions denominated in euro in the unsecured, secured, foreign exchange swap and overnight index swap (OIS) money market segments.

In order to improve its money market statistics, the ECB is today publishing a draft Regulation amending Regulation ECB/2014/48 (the MMSR Regulation).

The amending Regulation will guarantee that transactions with all financial counterparties are covered under the MMSR Regulation. It will also further support the reporting of the Legal Entity Identifier (LEI) of counterparties, when one is available, to ensure that the data collection benefits from the extended mandatory use of the LEI in reporting in the Union. Moreover, it will firm up the obligations of reporting agents to meet high standards designed to protect the integrity of the information. The draft Regulation also specifies that the data collected may be used for the development and administration of an unsecured overnight interest rate.

Feedback on the draft Regulation can be submitted until 10 September 2018. The ECB will consider the comments received when finalising the Regulation and publish a feedback statement. Key documents – the draft Regulation and an explanatory memorandum – are available on the ECB’s website as background information.

For media queries, please contact Silvia Margiocco, tel.: +49 69 1344 6619.

Notes:

Money market statistical reporting is governed by Regulation (EU) No 1333/2014 of the European Central Bank of 26 November 2014 concerning statistics on the money markets (ECB/2014/48) (OJ L 359,16.12.2014, p. 97).