1. If a reporting agent residing in a participating Member State is suspected of an infringement, as set out in Article 7(2), oF the ECB's statistical reporting requirements, the ECB and, in accordance with Article 5.2 of the Statute, the national central bank of the participating Member State concerned shall have the right to verify the accuracy and quality of the statistical information and to carry out its compulsory collection. However, should the statistical information concerned be necessary in order to demonstrate compliance with minimum reserve requirements, the verification should be carried out in accordance with Article 6 of Council Regulation (EC) No 2531/98 of 23 November 1998 concerning the application of minimum reserves by the European Central Bank [Note: See page 1 of this Official Journal]. The right to verify statistical information or to carry out compulsory collection thereof shall comprise the right to:

(a) require submission of documents;

(b) examine the books and records of the reporting agents;

(c) take copies or extracts from such books and records;

and

(d) obtain written or oral explanations.