Participation in the second series of targeted longer-term refinancing operations (TLTRO II) requires that eligible counterparties for monetary policy operations report their lending to corporations and households (excl. housing loans) in the euro area and changes in the lending. Participating monetary policy counterparties should submit two reports to the Bank of Finland. The first report forms the basis for determining the borrowing allowance available to the counterparty through the operations. The second report is used for establishing the applicable interest rate on the loans. The counterparties may participate in the targeted longer-term refinancing operations either on an individual basis or on a group basis as lead institution. The lead institution should report the aggregated data for the whole group to its national central bank. The reporting requirements are based on the Decision of the European Central Bank of 28 April 2016 on a second series of targeted longer-term refinancing operations (ECB/2016/10).

The first report should be submitted to the Bank of Finland prior to participation in the operations. If the first report has neither been submitted before the deadline specified for a certain operation nor for an earlier TLTRO II operation, the specified bid limit for the operation is 0 and the counterparty may not participate in the operation in question. If the second report does not fulfil the stipulated requirements or the submission is delayed, the interest rate on the main refinancing operation prevailing at the release of bidding results should be applied to the loans allotted in the operations. In connection with the second report, the banks participating in the operations should also ensure that the quality of the reported data is evaluated in an external inspection or some other corresponding procedure. This may be carried out as part of the annual audit.

The data should be submitted to the Bank of Finland as an Excel file sent via protected e-mail to the address TLTRO-tilastot(at)bof.fi. TLS protection or the Bank of Finland's SSL-protected e-mail service should be used for the protection. The protected e-mail service is available on https://securemail.bof.fi.

The report files should be named TLTROII_<Business code of the reporting institute>_Report<X>, where Report <X> indicates whether the report at hand is the first or second report. The business code should be provided as an eight-digit code without hyphen. The first report should, for example, be named TLTROII_01234562_Report1.xls.

TLTRO reporting template

ECB TLTRO-reporting page

ECB indicative calender

 Reporting calendar:

 

  • Operation 1: By 16.30 on Thursday 2 June 2016, data according to the TLTRO II reporting form should be reported for the period 1 February 2015–31 January 2016. 

(Release of bidding results will be published on 22 June 2016.)

 

  • Operation 2: By 16.30 on Monday 5 September 2016, data according to the TLTRO II reporting form should be reported for the period 1 February 2015–31 January 2016, if the data have not been reported for the earlier operation.

(Release of bidding results will be published on 20 September 2016.)

  • Operation 3: By 16.30 on Monday 28 November 2016, data according to the TLTRO II reporting form should be reported for the period 1 February 2015–31 January 2016, if the data have not been reported for the earlier operations.

(Release of bidding results will be published on 13 December 2016.)

  • Operation 4: By 16.30 on Monday 6 March 2017, data according to the TLTRO II reporting form should be reported for the period 1 February 2015–31 January 2016, if the data have not been reported for the earlier operations.

(Release of bidding results will be published on 21 March 2017.)

The counterparties participating in the operations should then, by 16.30 on 15 May 2018, submit the second report to the Bank of Finland with data according to the TLTRO II reporting form for the period 1 February 2016–31 January 2018, including a certificate from an external inspection affirming the accuracy of both reports.

Links:
Regulation concerning the balance sheet of the monetary financial institutions sector (ECB/2013/33)
Manual on MFI Balance Sheet Statistics, April 2012
Decision of the ECB of 28 April 2016 on a second series of targeted longer-term refinancing operations (ECB/2016/10)