A recent regulation of the Luxembourg Central Bank (“LCB”) expanded the scope of statistical reporting of Luxembourg issuing companies and brought some modifications to the reports.
What is new?
Until now the reporting was obligatory for companies whose principal activity was to grant loans or issue debt securities or derivative instruments in order finance its affiliates exceeding a threshold set by the LCB (currently €500m balance sheet total). The reporting is newly obligatory for all companies exceeding the threshold involved in at least one of the following activities (so-called financial companies):
- investment in any company
- the acquisition of equity or debt instruments
- direct or indirect investment in real estate or intellectual property rights
- borrowing and/or lending in any form.
The modifications to the reports concern mainly harmonisation of the reporting codes and the addition of certain items and breakdowns. For detailed information please refer to the summary of modifications as from December 2014.
What is the purpose of the reporting?
The purpose of the reporting is to collect statistical information for the Luxembourg and European balance of payments and international investment position statistics, showing the main items affecting monetary conditions and exchange markets in the euro area. The information is transferred to LCB via encrypted communication channels and will not be published within the public domain.
What are the reporting requirements?
Financial companies that are not subject to similar data collections (such as securitisation vehicles, funds or SICAR reporting) must report to the LCB within one month of exceeding the threshold and start reporting via encrypted channels:
- The S2.16 (statistical balance sheet) and, if applicable, S2.17 (non-financial assets and derivatives) reports on a quarterly basis
- The SBS (security by security) report, if applicable, on a monthly basis
From when are the new requirements applicable?
The new reporting formats (layout 1) are applicable to companies who are already reporting to the LCB as from December 2014 reports to be submitted by 21 January 2015. Companies that newly fall into the scope of the LCB reporting have to transmit their December 2014 reports, also in the new formats, by 26 June 2015 at the latest.
Read further details on the LCB website
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