Given the ongoing structural changes in the financial markets, there is currently a more urgent need for monetary policy to regulate how the money markets and their respective activities function than in the past. For this reason, the European Central Bank (ECB) passed Regulation (EU) No. 1333/2014 of 26 November 2014 concerning statistics on the money markets (also known as Money Markets Statistical Reporting – MMSR) as well as the amendments of Regulation (EU) 2015/1599.
The objective of this EU regulation is to gather information on money market activities in the European Monetary Union. Since April 2016, the ECB has collected statistical data on money market trades in euros.
These transaction-based reports are intended to provide the ECB with a comprehensive view of the activities of the money markets in the euro area, to enable them to better assess the effectiveness of monetary policies and to support their duty to maintain the stability of the financial markets. The requirements should further strengthen the Single Supervisory Mechanism (SSM) with the required analytical and statistical reports in compliance with Regulation (EU) No. 1024/2013. The obligation to report applies to four reporting categories that have been determined by the ECB, based on size, importance, “representativeness” and other institutions specified by the national central bank (NCB).
With ABACUS/Transactions, BearingPoint provides a new platform especially designed for transaction-based regulatory reporting. It includes the MMSR module and the TR module (EMIR reporting), which has already been successfully established with many customers.