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)

Official Journal EN of the European Union L series 2024/1988 23.7.2024 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) THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK, Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5 thereof, Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank(1), and in particular Articles 5(1) and 6(4) thereof,

Whereas:

(1) Regulation (EU) No 1073/2013 of the European Central Bank of 18 October 2013concerning statistics on the assets and liabilities of investment funds (ECB/2013/38)(2)needs to be substantially amended, in particular in light of the need to collect additional and more frequent statistical information on investment funds (IFs). It should therefore be recast in the interest of clarity.

(2) Regulation (EC) No 2533/98 provides that, in order to fulfil its statistical reporting requirements, the European Central Bank (ECB), assisted by the national central banks (NCBs), has the right to collect statistical information within the limits of the reference reporting population and as far as necessary to carry out the tasks of the European System of Central Banks (ESCB). It follows from Article 2(2), point (a), of that Regulation that IFs form part of the reference reporting population for the purposes of fulfilling the ECB’s statistical reporting requirements, inter alia, in the field of monetary and financial statistics.

(3) Article 3 of the same Regulation requires the ECB to specify the actual reporting population within the limits of the reference reporting population, and entitles it to fully or partly exempt specific classes of reporting agents from its statistical reporting requirements. The population of IFs covered by this Regulation should include alternative investment funds (AIFs) and undertakings for collective investment in transferable securities (UCITS) established within the territories of the Member States as defined in Directive 2011/61/EU of the European Parliament and of the Council(3)(AIFMD) and Directive 2009/65/EC of the European Parliament and of the Council(4)(UCITSD). To ensure consistency and comparability of statistics, it is important that all entities classified in the ‘Non-MMF investment funds (S.124)’ subsector of the European system of national and regional accounts in the European Union (ESA 2010) laid down in Regulation (EU) No 549/2013 of the European Parliament and of the Council(5)are included in the actual reporting population. In some cases the definition of IFs may therefore include entities which do not fall within the scope of the AIFMD or UCITSD.

(1) OJ L 318, 27.11.1998, p. 8.

(2) OJ L 297, 7.11.2013, p. 73.

(3) Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (OJ L 174,

1.7.2011, p. 1).

(4) Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32).

(5) Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (OJ L 174, 26.6.2013, p. 1).

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(4) Although regulations adopted under Article 34.1 of the Statute of the European System of Central Banks and of the European Central Bank (hereinafter the ‘Statute of the ESCB’) do not confer any rights or impose any obligations on Member States whose currency is not the euro (hereinafter the ‘non-euro area Member States’), Article 5 of the Statute of the ESCB applies to both euro and non-euro area Member States. Recital 17 of Council Regulation (EC) No 2533/98 refers to the fact that Article 5 of the Statute of the ESCB, together with Article 4(3) of the Treaty on European Union, implies an obligation to design and implement at national level all the measures that the non-euro area Member States consider appropriate to collect the statistical information needed to fulfil the ECB’s statistical reporting requirements and make timely preparations in the field of statistics in order to become euro area Member States.

(5) In order to undertake its tasks, in particular to define and implement monetary policy and to contribute to the stability of the financial system, the ESCB requires high quality statistical information on the financial activities of IFs. The principal purpose of such information is to provide the ECB with a comprehensive statistical picture of the IF subsector in the Member States whose currency is the euro (hereinafter the ‘euro area Member States’), which are viewed as one economic territory. Information from other regulatory or commercial sources that is currently available does not provide a sufficiently comprehensive statistical picture of the IF subsector that is needed to undertake ESCB tasks, due to limitations in terms of the scope, coverage and the type of data available, the quality of the data and the level of harmonisation of the data available from those sources.

(6) The collection of statistical information on the financial activities of IFs is necessary to satisfy regular and ad hoc analytical needs and to support the ECB in carrying out monetary and financial analysis. That statistical information is also used by the ESCB to compile other statistics, in particular with regard to the euro area financial accounts, balance of payments and international investment position. For this purpose, statistical information related to investment income attributable to IF shareholders is required, which can be derived from the income and fee information required under this Regulation. To minimise the reporting burden for these requirements, some of the income information may be estimated by the relevant NCB and the fee information is required on an annual basis only.

(7) Statistical information collected pursuant to this Regulation is used to compile IF statistics on both an aggregated and a fund-by-fund basis, as well as to complement other sources of statistical information collected by the ECB, and to ensure that statistical information may be effectively integrated with those other sources, including securities holdings statistics collected in accordance with Regulation (EU) No 1011/2012 of the European Central Bank (ECB/2012/24)(6), the Register of Institutions and Affiliates Data (RIAD) compiled in accordance with Guideline (EU) 2018/876 of the European Central Bank (ECB/2018/16)(7) and the centralised securities database

(CSDB) compiled in accordance with Guideline (EU) 2022/971 of the European Central Bank (ECB/2022/25)(8).

This allows for efficient and cost-effective use of statistical information collected from reporting agents, increasing their consistency and comparability and therefore their relevance and value for analytical purposes.

(8) Before adopting this Regulation for the definition and imposition of statistical reporting requirements, the ECB has assessed the merits and costs of the collection of new statistical information in accordance with Article 3 of Regulation (EC) No 2533/98 and considers that new and more frequent statistics, including statistical information on monthly income and annual fees paid by the shareholders to the IF and dividends paid by the IF and information on the classification of the IF, are required to enhance the quality and availability of data to the users of statistics on IFs when undertaking the tasks of the ESCB. The ECB has also consulted the European Commission on the draft Regulation, from which it has received comments.

(6) Regulation (EU) No 1011/2012 of the European Central Bank of 17 October 2012 concerning statistics on holdings of securities (ECB/2012/24) (OJ L 305, 1.11.2012, p. 6).

(7) Guideline (EU) 2018/876 of the European Central Bank of 1 June 2018 on the Register of Institutions and Affiliates Data (ECB/2018/16) (OJ L 154, 18.6.2018, p. 3).

(8) Guideline (EU) 2022/971 of the European Central Bank of 19 May 2022 on the Centralised Securities Database and the production of securities issues statistics and repealing Guideline ECB/2012/21 and Guideline (EU) 2021/834 (ECB/2022/25) (OJ L 166, 22.6.2022, p. 147).

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(9) This Regulation lays down requirements primarily with regard to IFs. However, complete statistical information on holders of bearer shares issued by IFs may not be directly available from IFs. Therefore, it is necessary to make arrangements to allow NCBs to collect that statistical information, including from other sources and entities, in line with the most effective and accurate methods available at national level.

(10) To limit the reporting burden, NCBs should be allowed to collect the necessary information on IFs from the actual reporting population as part of a broader statistical reporting framework, provided that the fulfilment of the ECB’s statistical requirements is not hindered and the collection of the information in this manner is consistent with the statistical principles underlying European statistics produced by the ESCB, as set out in Article 3a of Regulation (EC) No 2533/98. In order to foster transparency, in such cases it is appropriate to inform the reporting agents that statistical information is collected to fulfil other purposes.

(11) In view of the significant growth in importance of the IF subsector for the transmission of monetary policy and financial stability surveillance and assessment, more detailed statistical information is needed on a monthly basis.

This will allow for more timely policy advice and improved quality of analysis, for instance by better identification of events and causality in the economy and the financial markets, and significantly facilitating the incorporation of the data and the related analysis into the regular policy notes to the Governing Council.

(12) In order to ensure the reporting burden is not excessive, NCBs should be able to grant derogations to IFs with certain requirements and limits. It should be possible to grant certain derogations to IFs with frequency and timing constraints regarding their asset valuation so that they may fulfil the reporting requirements with a frequency and timing that are better aligned with those constraints. In addition, it should be possible to grant derogations to IFs on security-by-security reporting of securities without valid identification codes, where these have a low market value in relation to total securities holdings at national or individual IF level.

(13) The collection of security-by-security information under this Regulation is done in accordance with the definitions as set out in Regulation (EU) No 1011/2012 (ECB/2012/24).

(14) The quality of the statistical information collected, and analyses performed by the ECB, would be improved if it received data from European Securities and Market Authority (ESMA) reported under AIFMD and UCITSD that are necessary to undertake the ESCB’s tasks. The ECB should therefore cooperate with ESMA in the pursuit of its objectives under this Regulation and seek to enhance the efficiency of the production of statistical information used for these purposes, including by reducing any unnecessary duplications and inconsistencies between the reporting frameworks for ESCB tasks and supervisory purposes as well as improving data standardisation, efficient sharing and use of data.

(15) The standards for the protection and use of confidential statistical information as laid down in Article 8 of Regulation (EC) No 2533/98 should apply, permitting the sharing of such information with the European Supervisory Authorities where necessary to carry out their duties.

(16) Article 7(1) of Regulation (EC) No 2533/98 provides that the ECB has the power to impose sanctions on reporting agents which fail to comply with statistical reporting requirements set out in ECB regulations or decisions.

(17) In order to ensure the appropriate continuity in the reporting of statistical information related to IFs, the requirements in force prior to the date of application of this Regulation should be grandfathered for the entire transition period.

(18) It is necessary to set up a procedure to carry out technical amendments to the Annexes to this Regulation in an effective manner, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden. Accordingly, the Executive Board of the ECB should be able to make such technical amendments and account should be taken of the views of the Statistics Committee of the ESCB, when following this procedure.

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(19) To ensure continuity in the reporting of statistical information concerning IFs and to allow implementation to start from 1 December 2025, this Regulation should enter into force without delay. However, it should not apply until 1 December 2025 in order to allow sufficient time for NCBs and IFs to prepare for the relevant reporting requirements. In order to ensure that derogations pursuant to this Regulation are granted by NCBs on a sound legal basis and to ensure that these derogations may be notified to reporting agents in good time, those provisions on derogations should apply from the date of entry into force of this Regulation.

(20) In view of national accounting rules that may allow certain IFs to value their assets at less than monthly frequency, it is no longer considered necessary for the Governing Council to determine these categories. As provided for in this Regulation, it is instead considered appropriate for NCBs to have the discretion to grant such derogations in view of the limited categories of IFs to which these may apply. Decision (EU) 2015/32 of the European Central Bank (ECB/2014/62)(9)should therefore be repealed,

HAS ADOPTED THIS REGULATION:

Article 1 Subject matter and scope 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.

Article 2 Definitions 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

(9) Decision (EU) 2015/32 of the European Central Bank of 29 December 2014 concerning derogations that may be granted under Regulation (EU) No 1073/2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (ECB/2014/62) (OJ L 5, 9.1.2015, p. 17).

4/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 — 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);

(10) Regulation (EU) 2018/231 of the European Central Bank of 26 January 2018 on statistical reporting requirements for pension funds (ECB/2018/2) (OJ L 45, 17.2.2018, p. 3).

(11) Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (ECB/2021/2) (OJ L 73, 3.3.2021, p. 16).

(12) Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (OJ L 174, 26.6.2013, p. 1.)

(13) Directive 2014/65/EU of the European Parliament and of the Council of 15 May 2014 on markets in financial instruments and amending Directive 2002/92/EC and Directive 2011/61/EU (OJ L 173, 12.6.2014, p. 349).

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(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).

Article 3 Actual reporting population

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).

Article 4 List of IFs for statistical purposes

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.

(14) Directive 2009/65/EC of the European Parliament and of the Council of 13 July 2009 on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) (OJ L 302, 17.11.2009, p. 32).

6/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 Article 5 Statistical reporting requirements

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.

Article 6 Special reporting requirements on residency and institutional sector of holders of IF shares/units

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).

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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.

Article 7 Alternative data sources and estimations

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.

Article 8 Timeliness

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 28th working day following the end of the period to which the statistical information relates.

(15) Directive 2011/61/EU of the European Parliament and of the Council of 8 June 2011 on Alternative Investment Fund Managers and amending Directives 2003/41/EC and 2009/65/EC and Regulations (EC) No 1060/2009 and (EU) No 1095/2010 (OJ L 174,

1.7.2011, p. 1).

8/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 Article 9 Accounting rules for the purposes of statistical reporting 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).

Article 10 Derogations

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.

(16) Council Directive 86/635/EEC of 8 December 1986 on the annual accounts and consolidated accounts of banks and other financial institutions (OJ L 372, 31.12.1986, p. 1).

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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.

Article 11 Minimum standards and national reporting arrangements

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.

10/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 Article 12 Mergers, divisions and reorganisations

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.

Article 13 Verification and compulsory collection 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.

Article 14 Grandfathering 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.

Article 15 Simplified amendment procedure 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.

Article 16 Repeal of Decision (EU) 2015/32 (ECB/2014/62) Decision (EU) 2015/32 of the European Central Bank (ECB/2014/62)(18)is repealed with effect from 1 December 2025.

(17) OJ L 297, 7.11.2013, p. 73.

(18) Decision (EU) 2015/32 of the European Central Bank of 29 December 2014 concerning derogations that may be granted under Regulation (EU) No 1073/2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38) (ECB/2014/62) (OJ L 5, 9.1.2015, p. 17).

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 11/46EN OJ L, 23.7.2024 Article 17 Repeal

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.

Article 18 Final provisions 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.

This Regulation shall be binding in its entirety and directly applicable in the Member States in accordance with the Treaties.

Done at Frankfurt am Main, 27 June 2024.

For the Governing Council of the ECB The President of the ECB Christine LAGARDE 12/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojANNEX 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.

Euro area Rest of the world Main counterparties Euro area Non- outside the Member States Euro area participating European Union Total Domestic other than Total Non- Member States Member States (country-by- domestic participating other than (country-by- country (country-by- Member States domestic country information for country information) Japan, United information) 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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 13/46 OJ L,

23.7.2024 ENto 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 14/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024over 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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 15/46 OJ L,

23.7.2024 ENissued 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 16/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.20243c. 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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 17/46 OJ L,

23.7.2024 EN8. 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 18/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024held 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

(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).

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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 19/46 OJ L,

23.7.2024 ENTABLE 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.

Euro area Rest of the world Main counterparties Euro area Non- outside the Member States Euro area participating European Union Total Domestic other than Total Non- Member States Member States (country-by- domestic participating other than (country-by- country (country-by- Member States domestic country information for country information) Japan, United information) 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 20/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024to 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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 21/46 OJ L,

23.7.2024 ENup 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 22/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024issued 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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 23/46 OJ L,

23.7.2024 ENissued 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 24/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024issued 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 MINI­

5. Financial derivatives MINIMUM(2) MINIMUM(2) MUM(2) MINI­

6. Non-financial assets MUM(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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 25/46 OJ L,

23.7.2024 ENfrom 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) MINIMUM held by MFIs held by GG held by IFs held by OFIs held by FAs held by CFIs held by ICs 26/46

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj EN OJ L,

23.7.2024held by PFs held by NFCs held by HHs & NPISHs Issuance of IF shares/units(3) MINIMUM Redemption of IF shares/units(3) MINIMUM MINI­

10. Financial derivatives MINIMUM(2) MINIMUM(2) MUM(2)

11. Remaining liabilities

(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) 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.

(3) Transactions

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

ELI:

http://data.europa.eu/eli/reg/2024/1988/oj 27/46 OJ L,

23.7.2024 ENEN OJ L, 23.7.2024 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) 28/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 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.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 29/46EN OJ L, 23.7.2024 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 30/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 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(1)(SFDR) Article 8 compliant — Sustainable Finance Disclosure Regulation (SFDR) Article 9 compliant — other

(1) 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).

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 31/46EN OJ L, 23.7.2024 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;

32/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 — 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 evi­ dence 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 cor­ porations or quasi-corporations and to a share in their net assets in the event of liqui­ dation.

This category includes listed and unlisted shares and other equity.

Equity securities lent out under securities lending operations or sold under a repurch­ ase agreement, are treated in accordance with the description in category 2 ‘debt secu­ rities’.

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.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 33/46EN OJ L, 23.7.2024 3b. Equity of which unlisted Unlisted shares are equity securities not listed on an exchange. shares 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 This category includes those securities, reported under categories 2 (debt securities), 3 securities, equity and IF shares/ (equity) and 4 (IF shares/units) which have been lent under securities lending opera­ units) lent out or sold under tions or sold under repurchase agreements (or any other type of similar operations, repurchase agreements such as sell and buy-back transactions).

5. Financial derivatives Financial derivatives are financial instruments linked to a specified financial instru­ ment, 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 resi­ dency of the market.

34/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024

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 negoti­ able 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;

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 35/46EN OJ L, 23.7.2024 — 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.

36/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 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, com­ posed of 12 alphanumeric characters, which uniquely identifies a securities issue (as defined by ISO 6166).

Number of units or Number of units of a security or aggregated nominal amount if the security is traded in amounts aggregated nominal rather than in units. amount 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 posi­ tion.

Total amount Total market value of a security. Where securities are traded in units, this amount equals the num­ ber 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 (secu­ rities on the liability side) of a security recorded at transaction value.

Securities purchased The sum of purchases (securities on the asset side) or issues (securities on the liability side) of a

(assets) or issued security recorded at transaction value.

(liabilities) Securities sold (assets) The sum of sales (securities on the asset side) or redemptions (securities on the liability side) of a or redeemed (liabilities) security recorded at transaction value.

Currency of recording ISO code or equivalent of the currency used to express the price and/or the outstanding amount of the security of the security.

Instrument As defined in Table A, categories 2, 3 and 4.

Issuer identification A standard code, agreed with the relevant NCB that uniquely identifies an issuer and information code 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.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 37/46EN OJ L, 23.7.2024 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-mar­ ket 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 terri­ tory, 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 sepa­ rate 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 compe­ tence 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 institu­ tional 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 popula­ tion 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 set­ tlement 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 intermedi­ The other financial intermediaries, except insurance corporations and pension funds aries, except insurance cor­ subsector (S.125) consists of all financial corporations and quasi-corporations which porations and pension funds 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).

38/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024

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 finan­ cial intermediation but which are not financial intermediaries themselves. This subsec­ tor also includes head offices whose subsidiaries are all or mostly financial corporations (ESA 2010, paragraphs 2.95 to 2.97).

6. Captive financial institutions The captive financial institutions and money lenders subsector (S.127) consists of all and money lenders 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 subsidi­ ary 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 con­ sequence 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 conse­ quence 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 ben­ efits 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 consu­ mers and as entrepreneurs producing market goods and non-financial and financial ser­ vices (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 inde­ pendent 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 ser­ The non-profit institutions serving households (NPISHs) sector (S.15) consists of non- ving households profit institutions which are separate legal entities, which serve households and are pri­ vate 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).

(1) Regulation (EU) No 1075/2013 of the European Central Bank of 18 October 2013concerning 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).

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 39/46EN OJ L, 23.7.2024 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 Fees paid by the shareholders to the IF during the period, in the form of payments deducted from the shareholders to the IF’s assets and excluding fees paid directly by shareholders to third parties other than the IF. They con­ IF sist of the types ‘recurring costs’ and ‘incidental costs’ of the IF as described in Annex VI to Commis­ sion Delegated Regulation (EU) 2017/653(1).

(1) Commission Delegated Regulation (EU) 2017/653 of 8 March 2017supplementing 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).

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 stan­ dard assigned to a legal entity.

‘RIAD code’ is the unique identifier for the Register of Institutions and Affiliates Data (RIAD) cre­ ated 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 A company, the regular business of which is the management of the investment fund. company Management Identification code of the management company. In order of priority, the code used shall be LEI, company ID RIAD code or any other (e.g. national) entity identifier.

40/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 Dividend distribution Distribution fund is an IF which predominantly (more than 50 %) pays out the income it receives to policy 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 Umbrella fund is an entity which segregates its assets into different units (sub-funds) in such a way with sub-funds 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 finan­ cial 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 adapta­ tion and mitigation projects, power plants or pipelines, water management infrastructure such as water supply systems, sewage or irrigation systems, communication infrastructure such as net­ works, 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.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 41/46EN OJ L, 23.7.2024 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)(1).

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 predominantly (more than 50 %) invest in debt securities issued by gov­ government bond ernments. funds 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 Undertakings for collective investments in transferable securities (UCITS) are IFs that have been compliance 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 Direc­ tive 2014/65/EU.

‘Retail investor’ is an investor who is not a ‘professional investor’.

42/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 Type of real estate Residential real estate funds predominantly (more than 50 %) invest in residential property. fund 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(2) Commercial real estate funds predominantly (more than 50 %) invest in real estate used for com­ mercial purposes, such as retail and hotels.

Industrial real estate funds predominantly (more than 50 %) invest in real estate used for manufac­ turing, 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 Exchange traded fund (ETF) is a ‘UCITS ETF’ as defined in paragraph 3, fourth subparagraph of fund ESMA Guidelines (ESMA/2012/832)(3). 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 Real estate investment trust (REIT) is an entity that owns or finances income-producing real estate trust assets and is subject to a dedicated national legal framework defining its legal form, eligible assets and tax regime.

Redemption Redemption frequency specifies the schedule on which investors in the IF may redeem their shares/ frequency units.

Environmental, social A Sustainable Finance Disclosure Regulation (SFDR) Article 8 compliant IFs are compliant with and governance (ESG) Regulation (EU) 2019/2088 Article 8, thereby promoting environmental or social characteristics.

type Sustainable Finance Disclosure Regulation (SFDR) Article 9 compliant IFs are compliant with Reg­ ulation (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) 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.

(2) Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013on prudential requirements for credit institutions and amending Regulation (EU) No 648/2012 (OJ L 176, 27.6.2013, p. 1).

(3) Guidelines for competent authorities and UCITS management companies (ESMA/2012/832EN), available on the ESMA website at www.esma.europa.eu.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 43/46EN OJ L, 23.7.2024 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.

44/46 ELI: http://data.europa.eu/eli/reg/2024/1988/ojEN OJ L, 23.7.2024 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.

ELI: http://data.europa.eu/eli/reg/2024/1988/oj 45/46EN OJ L, 23.7.2024 ANNEX V CORRELATION TABLE Regulation (EC) No 1073/2013 (ECB/2013/38) This Regulation - Article 1 Article 1 Article 2 Article 2 Article 3 Article 3 Article 4 Article 4 - Article 5 Article 5 Article 6 - - Article 7 Article 7 Article 9 Article 8 Article 10 Article 9 Article 8 Article 10 Article 11 Article 11 Article 12 Article 12 Article 13 Article 13 - - Article 14 - Article 15 - Article 16 Article 14 Article 17 Article 15 Article 18 Annex I, Part 1 - Annex I, Part 2 Article 6 Annex I, Part 3 Annex I Annex II, Parts 1 to 3 Annex II, Parts 1 to 3 - Annex II, Parts 4 and 5 Annex III Annex III Annex IV Annex IV Annex V Annex V 46/46 ELI: http://data.europa.eu/eli/reg/2024/1988/oj