Given the ongoing structural changes in the financial markets, monetary policy requirements have to ascertain the capacities and functioning of the money markets much more comprehensively than in the past. For this reason, on 26.11.2014, the European Central Bank (ECB) adopted a regulation concerning statistics on the money markets. The objective of this EU regulation is to gather information on the money market activities and conditions in the European Monetary Union. To adhere to this provision, starting in April 2016, the ECB will survey statistical data on money market transactions involving the euro.
These transaction-based reports are intended to provide the ECB with a comprehensive view of the details of the money markets in the euro currency area in order to comprehend the effectiveness of the monetary stimulus and to fulfil the ECB duty to support stability in the financial markets. The requirements should further strengthen the now standardized Single Supervisory Mechanism (SSM) in accordance with regulation (EU) No. 1024/2013 in analytical and statistical terms. The obligation to report applies to four reporting categories that have been determined by the ECB: major banks, so-called important banks, representative banks as well as specific banks, that can be designated by the National Central Bank (NCB).
With ABACUS/Transactions, BearingPoint provides a new platform especially designed for transaction-based regulatory reporting. It includes the MMSR module and the TR module (EMIR reporting). The TR module has already been successfully established with many customers.