(1)

Council Regulation (EC) No 2533/98 (1) is a key component of the legal framework supporting the statistical collection tasks of the European Central Bank (ECB) assisted by the national central banks. The ECB has consistently relied on that Regulation to carry out and monitor the coordinated collection of statistical information necessary to undertake the tasks of the European System of Central Banks (ESCB) .

(1)

Council Regulation (EC) No 2533/98 (1) is a key component of the legal framework supporting the statistical collection tasks of the European Central Bank (ECB) assisted by the national central banks. When carrying out and monitoring the coordinated collection of necessary statistical information, the ECB has consistently relied on that Regulation to more efficiently fulfil its objectives and carry out its tasks as laid out in Article 2 of the Statute and to better answer the acute and upcoming challenges .

(3)

Digital transformation has introduced radical, new opportunities to integrate digital technologies not only in businesses, but also in the provision of public services. It has created an unprecedented environment with new needs for statistics to undertake the ESCB’s tasks and new possibilities for the more efficient collection of granular data. Moreover, recent economic and financial developments such as the climate emergency, the COVID-19 pandemic and the energy and cost-of-living crisis triggered by Russia’s war of aggression against Ukraine have amplified the demands and expectations for timelier, more frequent and more detailed statistics needed to support the performance of the ESCB’s tasks. At the same time, it is important to balance these demands and expectations with the need to keep the burden placed on the new reporting agents to a minimum, given that competitiveness and productivity are essential conditions for businesses to flourish. For this reason, it is important to adapt the legal framework to support the ‘once-only’ principle in relation to statistical and regulatory reporting wherever possible to ensure that reporting agents do not have to report the same data more than once. These adaptations should have regard to the independence of the ECB and the statistical principles laid down in Regulation (EC) No 2533/98.

(3)

Digital transformation has introduced radical, new opportunities to integrate digital technologies not only in businesses, but also in the provision of public services. It has created an unprecedented environment with new needs for statistics to undertake the ESCB’s tasks and new possibilities for the more efficient collection of granular data. Moreover, recent economic and financial developments such as the climate emergency, the COVID-19 pandemic and the energy and cost-of-living crisis triggered by Russia’s war of aggression against Ukraine have amplified the demands and expectations for timelier, more frequent and more detailed statistics needed to support the performance of the ESCB’s tasks. At the same time, it is important to balance these demands and expectations with the need to keep the burden placed on the reporting agents to a minimum, given that competitiveness and productivity are essential conditions for businesses to flourish. For this reason, it is important to adapt the legal framework to support the ‘once-only’ principle in relation to statistical and regulatory reporting wherever possible to ensure that reporting agents do not have to report the same data more than once. In that context and given the potential that digitalisation presents, the ECB should further explore tools leveraging digitalisation to streamline data collection processes and alleviate the burden of tasks carried out by the ESCB and reporting agents. The ECB should continue to assess the opportunities and challenges brought by the use of the new digital technologies for the collection of statistical information and should make a new recommendation to amend this Regulation accordingly where it concludes in its assessment that this is necessary. These adaptations should have regard to the independence of the ECB and the statistical principles laid down in Regulation (EC) No 2533/98.

(3a)

To ensure the robustness and relevance of its analytical tools, and in line with its primary mandate of price stability, complemented by its secondary objectives of supporting the general economic policies in the Union, including those related to environmental and sustainability considerations, the ECB should continue to enhance its statistical framework to reflect evolving economic and structural challenges.

(3b)

The use of artificial intelligence offers opportunities to enhance efficiency, accuracy and timeliness of collecting and processing data. However, its use also raises specific risks related to transparency, bias, security, privacy and accountability. It is therefore necessary to ensure that any artificial intelligence systems deployed by the ECB or the national central banks in the performance of their statistical tasks are used in a responsible, transparent and secure manner, ensuring appropriate human oversight and full accountability, consistent with the Union’s legal framework and with the independence of the ECB.

(9)

Confidential statistical information which the ECB and the national central banks obtain for the performance of the tasks of the ESCB must be protected in order to prevent its unlawful use and disclosure. Nevertheless, the confidentiality regime should be revised and clarified to ensure that the ECB and the national central banks use and share with each other confidential statistical information for the performance of the tasks of the ESCB referred to in the Treaty and for the efficient development, production or dissemination of statistics or for increasing their quality. These revisions are necessary to ensure that the information may be collected by the ECB with the assistance of the national central banks in accordance with the ‘once-only’ principle. Moreover, to reduce the need for duplicative statistical and regulatory reporting requirements, to facilitate cooperation among authorities and bodies of the Member States and of the Union and to reduce unnecessary administrative burdens, the members of the ESCB should be obliged to share confidential statistical information with certain authorities and bodies for the performance of their tasks relating to prudential supervision and the stability of the financial system, and with the members of the European Statistical System (ESS). The members of the ESCB should have the flexibility to share confidential statistical information with other authorities and bodies of the Member States and of the Union or with researchers affiliated with scientific research bodies in specified circumstances. A specific and reduced set of confidential statistical information may also be shared with reporting agents, where necessary for certain statistical purposes or where the sources are available to a reporting agent, for example, when such information is reported by an entity controlled by a reporting agent or its branches. To maintain the confidence of reporting agents, there should be consistent arrangements to protect confidential statistical information and enhanced transparency on the uses to which statistical information may be put.

(9)

Confidential statistical information which the ECB and the national central banks obtain for the performance of the tasks of the ESCB must be protected in order to prevent its unlawful use and disclosure. Nevertheless, the confidentiality regime should be revised and clarified to ensure that the ECB and the national central banks use and share with each other confidential statistical information for the performance of the tasks of the ESCB referred to in the Treaty and for the efficient development, production or dissemination of statistics or for increasing their quality. These revisions are necessary to ensure that the information may be collected by the ECB with the assistance of the national central banks in accordance with the ‘once-only’ principle. Moreover, to reduce the need for duplicative statistical and regulatory reporting requirements, to facilitate cooperation among authorities and bodies of the Member States and of the Union and to reduce unnecessary administrative burdens, the members of the ESCB should be obliged to share confidential statistical information with certain authorities and bodies for the performance of their tasks relating to prudential supervision and the stability of the financial system, and with the members of the European Statistical System (ESS). The members of the ESCB should have the flexibility to share confidential statistical information with other authorities and bodies of the Member States and of the Union or with researchers affiliated with scientific research bodies in specified circumstances. A specific and reduced set of confidential statistical information may also be shared with reporting agents, where necessary for certain statistical purposes or where the sources are available to a reporting agent, for example, when such information is reported by an entity controlled by a reporting agent or its branches. To maintain the confidence of reporting agents, there should be consistent arrangements to protect confidential statistical information and enhanced transparency on the uses to which statistical information may be put. To foster independent research and scrutiny, the ECB and the national central banks should make confidential statistical information from the main ESCB datasets available to accredited researchers whenever such access can be provided without risk of disclosure. This will enhance the analytical use of statistics for evidence-based policymaking across the euro area, while preserving data confidentiality.

(-a)

paragraph 1 is replaced by the following:

(a)

shall use existing statistics as far as possible;

(a)

shall use existing statistics as far as possible , in line with the ‘once-only’ principle, and supported by digital solutions, where appropriate ;

(ba)

shall have regard to the general economic policies and objectives in the Union, including climate and environmental policies;

(ba)

the following paragraph is added:

(b)

shall share confidential statistical information with other legitimate parties for the performance of their respective statutory tasks relating to prudential supervision and the stability of the financial system;

(b)

shall share confidential statistical information with other legitimate parties for the performance of their respective statutory tasks related to the short, medium and long-term stability and effectiveness of the financial system;

(e)

may grant access to researchers affiliated with scientific research bodies to confidential statistical information which does not allow a reporting agent, or other legal or natural person, entity or branch to be directly identified;

(e)

shall establish a permanent framework to facilitate and grant access to researchers affiliated with scientific research bodies to confidential statistical information, covering all the main ECB datasets, which does not allow a reporting agent, or other legal or natural person, entity or branch to be directly identified;

2a.

When ESCB members grant access to confidential statistical information in the cases referred in points (e) and (g) of this paragraph, the natural person or legal entity receiving access shall use those data only for the purpose consented to by ESCB members and, if applicable, by the reporting agent or other legal or natural person, entity or branch, which can be identified. If the natural person or legal entity receiving access to these data can store them, such storage shall be secured to avoid any breach of confidentiality. Storage shall not exceed 3 years;

(a)

shall take all the necessary regulatory, administrative, technical and organisational measures to ensure the physical and logical protection of confidential statistical information in accordance with the common rules and minimum standards defined by the ECB ; and

(a)

shall use the confidential statistical information exclusively for the purpose consented to by the ESCB member sharing the information and, if applicable, by the reporting agent or other legal or natural person, entity or branch, which can be identified by the confidential statistical information ; and