Article 10 · Regulation (EU) 2024/1988

Contents

Article 10Derogations#

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.

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.

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.

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.