Circular NBB_2015_16 / Thematic Citizen Loans - Periodic Information to be Communicated to the NBB

NBB_2015_16 – April 1, 2015 Circular – Page 1/4 14 Berlaimont Boulevard – BE-1000 Brussels Tel. +32 2 221 38 12 – Fax +32 2 221 31 04 Company number: 0203.201.340 Brussels RPM www.bnb.be

Circular
Brussels, April 1, 2015
Reference: NBB_2015_16
Your contact:
Michel Colinet
Tel. +32 2 221 37 17 – Fax +32 2 221 31 04 michel.colinet@nbb.be

Thematic Citizen Loans
Periodic Information to be Communicated to the NBB

Scope

• Credit institutions as defined in Article 2, 5° of the Law.
• Insurance companies as defined in Article 2, 6° of the Law.

Summary/Objectives
This circular relates to the periodic information to be communicated to the NBB concerning thematic citizen loans, pursuant to Article 14, §§1 and 2 of the Law of December 26, 2013, containing various provisions concerning thematic citizen loans (hereinafter, "the Law").

This information was defined by the NBB Regulation of January 27, 2015 (relating to periodic information to be provided by credit institutions and insurance companies in the context of thematic citizen loans), which was approved by Royal Decree of March 16, 2015. This regulation is hereinafter referred to as "the Regulation".

Article 6 of this Regulation provides that the NBB may, by means of a circular, define the format of the required reporting statements, the technical modalities for their communication, as well as the necessary instructions for the implementation of the Regulation. Article 6 also provides that the NBB may prescribe the communication of totals, carry-forwards, and automated percentages of reported amounts in accordance with Articles 3 and 4. The NBB may also introduce, in the format of the tables, automatic tests to verify compliance with Articles 10 and 11 of the Law.

The purpose of this circular is to implement the aforementioned Article 6.

Circular – Page 2/4 NBB_2015_16 – April 1, 2015

Madam,
Sir,

1. Format of reporting statements and communication modalities
   The reporting statements provided for by the Regulation will be communicated to the NBB using the table formats 1 and 2 provided in the Annex. These two tables must be completed by both credit institutions and insurance companies, with the exception of the following items in Table 1:

• Item 1.1.5 must not be filled in by credit institutions;
• Items 1.1.1, 1.1.2, 1.1.3, 2.1.24.1, and 2.1.24.2 must not be filled in by insurance companies.

Pursuant to Article 6 of the Regulation, these formats integrate various automated calculations that cannot be modified.

The reporting statements will be communicated annually within 60 days following the accounting closing (Article 5), and this for the first time based on the accounting situation as of December 31, 2015. Article 5, §2 provides for a single communication based on the situation as of June 30, 2015. This concerns only Table 1. This table must be reported by all institutions and companies by August 31, 2015 at the latest.

For institutions and companies whose statutory accounting closing date is not set on December 31, the aforementioned dates must be understood as the first annual closing date following June 30, 2015.

Thus, as an example:

Closing of accounts	Table 1 First ref date	Table 1 Second ref date	Table 2 First ref date	Table 2 Second ref date
Company A 31/12	30 06 2015	31 12 2015	31 12 2015	31 12 2016
Company B 31/03	30 06 2015	31 03 2016	31 03 2016	31 03 2017
Company C 30/09	30 06 2015	30 09 2015	30 09 2015	30 09 2016
Company D 31/10	30 06 2015	31 10 2015	31 10 2015	31 10 2016

The electronic transmission of data will be carried out using the NBB's "OneGate" application. Declarants will have the choice to enter data manually (manual data entry) or to automate reporting via files generated in CSV or XML format. An exchange protocol will be made available to declarants in due time on the site http://www.nbb.be/onegate.

Companies that have never carried out operations under the Law may communicate the reporting statements as "nil" (and this as long as they have not carried out any operations in this context).

Unless otherwise provided by the Regulation or the Circular, the data to be reported must be calculated in accordance with applicable accounting rules (for example, concerning revenues).

NBB_2015_16 – April 1, 2015 Circular – Page 3/4

2. Additional Instructions
   A. Table 1
   As provided by the Regulation, amounts allocated to eligible projects must be broken down by eligible project. The list thereof, as reproduced in Table 1, corresponds to the list provided for in Article 1 of the Royal Decree of February 28, 2014, implementing Article 9, first paragraph, of the Law of December 26, 2013, containing various provisions concerning thematic citizen loans, fixing the eligible projects for financing in the context of a thematic citizen loan.

For Table 1, the breakdown of eligible projects according to whether they are financed in the form of a loan or a line of credit must only be done for the total of eligible projects (this distinction should not be made by type of eligible project). This distinction must only be provided by credit institutions.

The amounts to be indicated in Table 1 are the nominal amounts of the items in question (independent of their accounting valuation).

B. Table 2
Column (a): month of the previous fiscal year.
Column (b): amounts collected during the corresponding month of the previous fiscal year, corresponding to the sum of:

• funds collected by the issuance of cash bonds and/or the opening of term accounts pursuant to Article 4 of the Law and/or by the offer of insurance contracts pursuant to Article 5 of the Law;
• revenues from assets minus incurred interest, and, where applicable, profit participations due, in accordance with Article 11, §1, al. 4 of the Law;
• interbank loans received pursuant to Article 6 of the Law;
• minus amounts refunded to depositors or insured parties following, for example, withdrawal operations, policy surrender, death... carried out in accordance with the Law.

For the purposes of preparing Table 2, amounts collected during a given month are presumed to be collected on the last day of that month (it is therefore from this date that the allocation deadline as provided for in Article 10 of the Law must be checked).

Column (c): amounts from column (b), automatically accumulated monthly.
Column (d): amounts allocated in the form of loans and/or lines of credit during the corresponding month, in accordance with Article 9 of the Law, to eligible projects, increased where applicable by interbank loans granted during the corresponding month, in accordance with Article 6 of the Law.

The amounts to be indicated are net of repayments, cancellations, amortization... of said credits and lines of credit occurring during said month (same below for columns e, i, j, and x).

Column (e): amounts from column (d) accumulated monthly.

Columns (f) to (j) reproduce the operations carried out during the fiscal year and the items carried forward from the previous fiscal year, for the verification of compliance with Article 10 of the Law.

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Column (f): calendar month of the past fiscal year.
Column (g): 90% of the amounts collected at the end of the same month of the previous fiscal year. These are the amounts that, in accordance with Article 10, must at this date of the past fiscal year, be allocated to the financing of eligible projects.

Column (h): amounts from column (g) accumulated monthly (plus amounts not yet allocated, carried forward from the previous fiscal year).

Column (i): amounts identical to column (d), but for the past fiscal year.

Column (j): amounts from column (i) accumulated monthly (plus amounts carried forward from the previous fiscal year).

Columns (x) and (y): Columns x and y are not to be filled in. They constitute the compliance test with the provisions of Article 10 of the Law. More specifically, column x is the sum for each month of the cumulative amount of eligible projects at the end of the preceding month, increased by new eligible projects of the month and decreased by 90% of the amount of funds collected at the same date one year earlier. If for a given month the amount of column x is negative, then the mention "1" will appear in the corresponding line in column y. This indicates that the amounts collected one year earlier at the same date have not been allocated in accordance with Article 10 of the Law.

Notwithstanding the fact that Table 2 must be communicated to the NBB with a monthly breakdown of data, the concerned institutions and companies must, where applicable, be able to provide more detailed information than monthly.

A copy of this circular is sent to the commissioner(s), auditor(s) of your company.

I beg you to accept, Madam, Sir, the expression of my distinguished consideration.

Jan Smets
Governor

Annex: 1