Council of the European Union 23 November 1998, Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank

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Council Regulation (EC) No 2533/98 of 23 November 1998 establishes the legal framework governing the collection of statistical information by the European Central Bank (ECB), defining the reference reporting population—comprising monetary financial institutions, post office giro institutions, and other specified entities resident in Member States—and conferring on the ECB regulatory power to impose statistical reporting requirements on the actual reporting population within participating Member States. Key provisions establish a confidentiality regime restricting the use of confidential statistical information to ESCB tasks (subject to limited exceptions), require Member States to cooperate fully with the ESCB in statistical matters, and grant the ECB and national central banks rights of verification and compulsory collection of statistical information. Enforcement is effected through sanctions, including daily penalty payments not exceeding EUR 10,000 (total not exceeding EUR 100,000) for failure to submit information and fines not exceeding EUR 200,000 for submission of incorrect or incomplete data or obstruction of verification, with the detailed sanctioning procedure governed by Council Regulation (EC) No 2532/98.AI