THE ECB STATISTICS

The main purpose of European Central Bank (ECB) statistics is to support the monetary policy of the ECB and other tasks of the Euro system and the European System of Central Banks (ESCB). In compiling statistics, the ECB is assisted by the national central banks, or NCBs. The NCBs (and, in some cases, other national authorities) collect data from credit institutions and other sources in their respective countries and calculate aggregates at the national level, which they send to the ECB. The ECB then compiles the aggregates for the euro area.

THE ECB STATISTICS MAIN FEATURES

• A focus on the euro area. This means that all underlying national data have to be based on a common set of definitions and classifications so that they are sufficiently comparable to produce a meaningful aggregate.
• The legal basis for the development, collection, compilation and dissemination of statistics by the ECB is laid down in the Statute of the European System of Central Banks and of the European Central Bank. The ECB has adopted and published a number of legal acts addressing a wide range of statistics.
• While ensuring its statistical requirements are met, the ECB seeks to minimise the burden which statistical reporting places on credit institutions and other reporting agents and therefore uses existing statistics wherever possible.
• The ECB works closely with the European Community institutions. Responsibility for statistics at the European level is shared between the ECB and the European Commission (through Eurostat, the Statistical Office of the European Communities).
• The ECB also maintains a close relationship with other international organisations in statistical matters. Wherever possible, ECB statistics conform to international standards.