TLTRO III -Reporting

tltro iii reporting

Participation in the third series of targeted longer-term refinancing operations (TLTRO III) 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 to the Bank of Finland three reports and statements from external auditors confirming the validity of the information contained therein.  The first report forms the basis for determining the borrowing allowance available to the counterparty through the operations. The second report is used for determining the data relating to the second reference period and, optionally, to the special reference period for the purposes of determining applicable interest rates for amounts borrowed in the first seven TLTROs-III. The third report is used for determining the data relating to the additional special reference period, for the purposes of determining the applicable interest rates. Participants who participate for the first time in the eighth or subsequent TLTROs-III shall submit the first report and the third report.

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 22 July 2019 on a third series of targeted longer-term refinancing operations (ECB/2019/21) and its amendments.

The first report with templates A and B reported 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 III 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 addition, EUR 500 will be payable for every day the second report is late, to a maximum amount of EUR 15,000.

It is additionally required that counterparties participating in the operations provide an external auditor’s report or other equivalent report in accordance with Decision ECB/2019/21 on the accuracy of the information contained in the first report by, at the latest:

• 7 January 2021 by 19.00, if the counterparty is a participant in the first three operations, or
• 16 July 2021 by 19.00, if the counterparty is participating for the first time in operations 4–7, or

• 6 April 2022 by 19.00, if the counterparty is participating for the first time in operations 8–10.

The external audit or equivalent report regarding the accuracy of the information contained in the second TLTRO report should be forwarded together with said TLTRO report by 17 August 2021, by 19.00 at the latest.

The external audit or equivalent report regarding the accuracy of the information contained in the third TLTRO report should be forwarded together with said TLTRO report by 17 May 2022, by 19.00 at the latest.

Participants intending to take advantage of the interest rates set out for special interest rate period in in Article 5(1) shall exercise this option by separately providing, in the second report, the data relating to the special reference period, as well as the results of the auditor’s evaluation of these data by 17 August 2021, by 19.00 at the latest.

Special interest rate period means the period from 24 June 2020 to 23 June 2021.

Special reference period means the period from 1 March 2020 to 31 March 2021.

Participants intending to take advantage of the interest rates set out for additional special interest rate period in in Article 5(3) shall exercise this option by separately providing, in the third report, the data relating to the additional special reference period, as well as the results of the auditor’s evaluation of these data by 17 May 2022, by 19.00 at the latest.

Additional special interest rate period means the period from 24 June 2021 to 23 June 2022.

Additional special reference period means the period from 1 October 2020 to 31 December 2021.

Late delivery of external audit reports for the first TLTRO report will result in the need to repay the funds borrowed in all the operations on the next main refinancing operation settlement day. The interest rate applied during the operations will be the current average rate for Eurosystem main refinancing operations.

Late delivery of external audit reports for the second TLTRO report will result in the interest applied in the repayment of funds borrowed in the operations being the current average rate for Eurosystem main refinancing operations.

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 TLTROIII_<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 TLTROIII_01234562_Report1.xls.

In addition, the reports for the special reference period and the additional special reference period should be named according to the following examples: TLTROIII_01234562_SpecialReport.xls and TLTROIII_01234562_AdditSpecialReport.xls

TLTRO reporting template

ECB TLTRO-reporting page

ECB indicative calender

Reporting calendar

• Operation 1: By 19.00 on Tuesday 27 August 2019, data according to the TLTRO III reporting form should be reported for the period 1.4.2018 –31.3.2019.
   (Operation announcement will be published on 17 September 2019.)

• Operation 2: By 19.00 on Monday 18 November 2019, data according to the TLTRO III reporting form should be reported for the period 1.4.2018 –31.3.2019, if the data have not been reported for the earlier operation.
  (Operation announcement will be published on 10 December 2019.)
  
  

• Operation 3: By 19.00 on Monday 24 February 2020, data according to the TLTRO III reporting form should be reported for the period 1.4.2018 –31.3.2019, if the data have not been reported for the earlier operations.
  (Operation announcement will be published on 17 March 2020.)
  
  

• Operation 4: By 19.00 on Monday 25 May 2020, data according to the TLTRO III reporting form should be reported for the period 1.4.2018 –31.3.2019, if the data have not been reported for the earlier operations.
  (Operation announcement will be published on 16 June 2020.)

• Operation 5: Monday 31 August 2020, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 22 September 2020.)

• Operation 6: Monday 16 November 2020, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 8 December 2020.)

• Operation 7: Monday 22 February 2021, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 16 March 2021.)

• Operation 8: Monday 25 May 2021, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 15 June 2021.)

• Operation 9: Monday 30 August 2021, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 21 September 2021.)

• Operation 10: Monday 22 November 2021, by 19.00 at the latest, provision of information required by TLTRO III reporting form for the reporting period 1 April 2018 – 31 March 2019, if this information has not been reported in respect of earlier operations.
  (Operation announcement will be published on 14 December 2021.)

• The counterparties participating in the operations should then, by 19.00 on 17 August 2021, submit the second report to the Bank of Finland with data according to the TLTRO III reporting form for the period 1 April 2019–31 March 2021, including a certificate from an external inspection affirming the accuracy of the second report.

other material related to reporting

Manual on MFI Balance Sheet Statistics, April 2012 

reporting is based on the following regulations