L 15/14 Official Journal of the European Union 20.1.2009 REGULATION (EC) No 25/2009 OF THE EUROPEAN CENTRAL BANK of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector (Recast) (ECB/2008/32) THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK, Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (!), and in particular to Article 5(1) and Article 6(4) thereof, Having regard to Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank (3), and in particular to Article 6(4) thereof, Having regard to Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (recast) (?), Having regard to Council Regulation (EC) No 2223/96 of 25 June 1996 on the European system of national and regional accounts in the Community (%), Whereas: (1) Regulation (EC) No 2423/2001 of the European Central Bank of 22 November 2001 concerning the consolidated balance sheet of the monetary financial institutions sector (ECBJ2001/13) (°) has been significantly amended on several occasions. Since further amendments to this Regulation are now required, it should be recast in the interests of clarity and transparency. (2)  The European System of Central Banks (ESCB) requires, for the fulfilment of its tasks, the production of the consolidated balance sheet of the monetary financial institutions (MFI) sector. The principal purpose thereof is to provide the European Central Bank (ECB) with a comprehensive statistical picture of monetary develop- ments in the participating Member States, which are viewed as one economic territory. These statistics cover aggregate financial assets and liabilities, in terms of stocks and transactions, based on a complete and homogeneous MFI sector and reporting population, and are produced on a regular basis. Sufficiently detailed statistical data are also necessary to guarantee the continued analytical usefulness of the calculated monetary aggregates and counterparts covering this territory. (3) The ECB is required, in accordance with the EC Treaty and under the conditions laid down in the Statute of the () OJ L 318,27.11.1998, p. 8. ) OJL318,27.11.1998, p. 1. ¢) OJ L 177, 30.6.2006, p. 1. ) OJ L 310, 30.11.1996, p. 1. () OJ L 333,17.12.2001, p. 1. 4 ©) European System of Central Banks and of the European Central Bank (the ESCB Statute), to make regulations to the extent necessary to implement the ESCB’s tasks as defined in the ESCB Statute and in some cases as laid down in the provisions adopted by the Council pursuant to Arti- cle 107(6) of the Treaty. Article 5.1 of the ESCB Statute requires the ECB, assisted by the national central banks (NCBs), to collect the necessary statistical information either from the competent national authorities or directly from economic agents in order to undertake the ESCB's tasks. Article 5.2 of the ESCB Statute stipulates that the NCBs shall carry out, to the extent possible, the tasks described in Article 5.1. Article 3 of Regulation (EC) No 253398 requires the ECB to specify the actual reporting population within the limits of the reference reporting population and entitles it to fully or partly exempt specific classes of reporting agents from its statistical reporting requirements. Article 6(4) provides that the ECB may adopt regulations specifying the conditions under which the right to verify or to carry out the compulsory collection of statistical information may be exercised. Article 4 of Regulation (EC) No 2533/98 requires Member States to organise themselves in the field of statistics and to cooperate fully with the ESCB in order to ensure fulfilment of the obligations arising from Article 5 of the ESCB Statute. It may be appropriate for NCBs to collect from the actual reporting population the statistical information necessary to fulfil the ECB’s statistical requirements as part of a broader statistical reporting framework which the NCBs establish under their own responsibility in accordance with Community or national law or established practice and which also serves other statistical purposes, provided that the fulfilment of the ECB'’s statistical requirements is not jeopardised. This may also reduce the reporting burden. In order to foster transparency, it is appropriate, in these cases, to inform the reporting agents that data are collected to fulfil other statistical purposes. In specific cases, the ECB may rely on statistical information collected for such other purposes to fulfil its requirements. The statistical requirements are most detailed where the counterparties are part of the money-holding sector. Detailed data are required on: (a) deposit liabilities by subsector and maturity classified further by currency to permit a closer analysis of the developments of the foreign