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Reporting requirements and audit

Reporting requirements and audit

The Deutsche Bundesbank needs to obtain specific balance sheet data in order to collect and evaluate the balance sheet data required for calculating bid limits and the interest rate. Such data shall be provided by institutions interested in participating in TLTRO‑II by submitting a special reporting form to the Deutsche Bundesbank via the channels for reporting banking statistics.

A total of two balance sheet data reporting forms have to be submitted in order to apply for participation in TLTRO‑II. The first reporting form, which covers the period from 1 February 2015 to 31 January 2016 and contains the data necessary to calculate the borrowing allowance and the institution’s specific benchmark, must be submitted on a one-off basis by all interested institutions prior to initial participation in TLTRO‑II up to the deadline published by the Eurosystem in the calendar for TLTRO‑II operations. Counterparties which have already reported these balance sheet data to the Deutsche Bundesbank over the aforementioned period for TLTRO‑I have already met this reporting requirement. Should there be no revisions owing to changes in the status of the data, the Deutsche Bundesbank does not require the renewed submission of these data.

The second reporting form covers the period from 1 February 2016 to 31 January 2018 and serves to calculate the interest rates of TLTRO‑II borrowings. The deadline for submitting the second reporting form to the Deutsche Bundesbank is 15 May 2018.

Furthermore, TLTRO‑II participants are required to submit, by 15 May 2018 at the latest, a report on the review of the two balance sheet data reporting forms to the Deutsche Bundesbank. The provisions governing these submissions are set out in Article 7(5) of Decision (EU) 2016/810.

Non-compliance by counterparties with the requirement to submit the second balance sheet data reporting form or the reports on the review of the balance sheet data reporting forms will result in forfeiture of the option for reducing the TLTRO‑II interest rates.

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