Regulatory Alerts2019-03-21
Added · Updated
Recommendation of the European Systemic Risk Board of 21 March 2019 amending Recommendation ESRB/2016/14 on closing real estate data gaps
This Recommendation amends ESRB/2016/14 by replacing definitions of commercial and residential real estate and loans to align with broader statistical standards, and by expanding the recommended indicators for monitoring the physical commercial real estate market. It introduces a new framework requiring the Commission (Eurostat) to propose Union legislation and develop statistical standards for collecting data on physical commercial real estate indicators. The amendment extends implementation deadlines for national macroprudential authorities, setting final reporting dates for specific indicators at 31 December 2021, 2025, or later depending on data availability, while maintaining interim reporting requirements by 31 December 2019.