Reporting agents must fulfil the following minimum standards to meet the statistical reporting requirements of the European Central Bank (ECB).
1. Minimum standards for transmission:
(a) reporting to the national central banks (NCBs) must be timely and within the deadlines set by the relevant NCB;
(b) statistical reports must take their form and format from the technical reporting requirements set by the NCBs;
(c) the contact persons within the reporting agent must be identified;
(d) the technical specifications for data transmission to NCBs must be followed.
2. Minimum standards for accuracy:
(a) all linear constraints must be fulfilled where applicable e.g. assets and liabilities must balance, subtotals must add up to totals;
(b) reporting agents must be able to provide information on the developments implied by the data supplied;
(c) the statistical information must be complete;
(d) reporting agents must follow the dimensions and decimals set by the NCBs for the technical trans