Regulation BCL 2011/N°8 of 29 April 2011 on statistical collection from companies contracting loans or issuing debt securities or derivative financial products for affiliated companies

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BANQUE CENTRALE DU LUXEMBOURG
Regulation of the Central Bank of Luxembourg 2011/N°8 of 29 April 2011 on statistical collection from companies contracting loans or issuing debt securities or derivative financial products for affiliated companies

Domain: Balance of Payments and International Investment Position

The Directorate of the Central Bank of Luxembourg;

Having regard to the Treaty on the Functioning of the European Union, and in particular Article 127(2) thereof;

Having regard to Article 5.1 of the Statutes of the European System of Central Banks and of the European Central Bank (hereinafter the 'ECB');

Having regard to ECB Guideline ECB/2004/15 of 16 July 2004 on statistical reporting requirements established by the European Central Bank concerning balance of payments and international investment position statistics and the framework for the dissemination of foreign exchange reserve statistics;

Having regard to Article 108bis of the Constitution;

Having regard to the Law of 23 December 1998 on the monetary status and the Central Bank of Luxembourg as amended by the Law of 24 October 2008, in particular Articles 2(1), 32 and 34(1);

Having regard to the Law of 28 June 2000 amending the Grand Ducal Regulation of 10 November 1944 on exchange control as amended, in particular Article 1bis paragraph 2 under which the Central Bank of Luxembourg is authorized to use collected data for statistical purposes;

Considering the following:

(1) In the context of its tasks, the Central Bank of Luxembourg must transmit comprehensive and reliable statistics on the balance of payments and the international investment position to the ECB;

(2) the Central Bank of Luxembourg consulted Statec on the provisions of this Regulation.

Art. 1. Definitions

For the purposes of this Regulation, the following shall apply:

1. 'statistical reporting obligations to the Central Bank of Luxembourg': the statistical information that reporters are required to provide and which is necessary for the performance of the Eurosystem's tasks;

2. 'balance of payments': the statistical statement which records, with appropriate breakdown, international transactions during the period under review;

3. 'international investment position': the balance sheet relating to outstanding international financial assets and liabilities;

4. 'company contracting loans or issuing debt securities or derivative financial products for affiliated companies' (hereinafter 'issuing company'): any company whose main activity is to contract loans or issue debt securities or derivative financial products which are sold either by public offer or by private placement, with a view to financing the activities of companies belonging to the same group as the issuing company;

5. 'resident': any legal person under Luxembourg law, for the activities of its registered office, subsidiaries, affiliated companies and branches established on Luxembourg territory, or any legal person under foreign law, for the activities of its branches and operational headquarters established on Luxembourg territory;

6. 'reporter': in the sense of this Regulation, the set of issuing companies;

7. 'calendar day': all days of the calendar;

8. 'working day': all days of the calendar, except Sundays and legal public holidays defined in Article L. 232-2 of the Labour Code.

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Art. 2. Statistical reporting obligations to the Central Bank of Luxembourg

1. Any issuing company that issues or intends to issue debt securities shall inform the Central Bank of Luxembourg within one month of the date of publication of this Regulation or the date of its constitution.

2. Each issuing company shall transmit a quarterly balance sheet prepared in accordance with the accounting standards in force to the Central Bank of Luxembourg on the dates indicated in the table set out in Article 7 paragraph 2 of this Regulation. This balance sheet shall be supplemented by monthly data. Annexes 1 to 10 of this Regulation detail the information to be transmitted to the BCL.

Art. 3. Exemptions

1. In the interest of good administration and in respect of equal treatment, the Central Bank of Luxembourg may exempt, in whole or in part, one or more reporters from reporting obligations by a reasoned decision.

2. The Central Bank of Luxembourg may impose specific reporting obligations for issuing companies benefiting from an exemption within the meaning of paragraph 1.

Art. 4. Transmission procedures

1. Issuing companies shall transmit additional information upon request by the Central Bank of Luxembourg. Issuing companies shall have a period of fifteen working days from the date of the request made by the Central Bank of Luxembourg to transmit the required information.

2. Issuing companies must use one of the electronic transmission methods described in Annexes 3, 6 and 9.

Art. 5. Use of data

The data collected shall be used for the purposes of the exercise of the tasks of the Central Bank of Luxembourg.

Art. 6. Entry into force

This Regulation shall enter into force on the date of its publication. The first transmission of the information defined in Article 2 paragraph 2 relating to the period of September 2011 shall be transmitted by 21 October 2011.

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Art. 7. Publication

1. This Regulation shall be published on the website of the Central Bank of Luxembourg (www.bcl.lu). It shall also be published in the Mémorial.

2. The Central Bank of Luxembourg shall publish on its website (www.bcl.lu) a table setting out the precise dates by which statistical reports are to be submitted.

3. This Regulation is supplemented by ten annexes, which are regularly updated and published on the website of the Central Bank of Luxembourg (www.bcl.lu).

• Annex 1: Definitions and concepts for the statistical collection from issuing companies
• Annex 2: Instructions for report S 2.16 'Quarterly statistical balance sheet of issuing companies'
• Annex 3: Electronic transmission manual for report S 2.16 'Quarterly statistical balance sheet of issuing companies'
• Annex 4: Collection of validation rules for report S 2.16 'Quarterly statistical balance sheet of issuing companies'
• Annex 5: Instructions for report S 2.17 'Quarterly information on transactions of issuing companies'
• Annex 6: Electronic transmission manual for report S 2.17 'Quarterly information on transactions of issuing companies'
• Annex 7: Collection of validation rules for report S 2.17 'Quarterly information on transactions of issuing companies'
• Annex 8: Monthly security-by-security reporting by issuing companies
• Annex 9: Electronic transmission manual for monthly security-by-security reporting by issuing companies
• Annex 10: Collection of validation rules for monthly security-by-security reporting by issuing companies

BANQUE CENTRALE DU LUXEMBOURG
The Directorate