BETA


2003/0296(COD) EMU statistics: quaterly non-financial accounts by institutional sector, common framework for Member States

Progress: Procedure completed

RoleCommitteeRapporteurShadows
Lead ECON LULLING Astrid (icon: PPE-DE PPE-DE)
Former Responsible Committee ECON LULLING Astrid (icon: PPE-DE PPE-DE)
Lead committee dossier:
Legal Basis:
EC Treaty (after Amsterdam) EC 285-p1

Events

2010/09/30
   EC - Follow-up document
Details

The Commission presents a report concerning the implementation of Regulation (EC) No 1161/2005 on the compilation of quarterly non-financial accounts by institutional sector (QSA Regulation.) The compilation of QSA for the euro area had been identified as a priority in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements endorsed by the ECOFIN Council in September 2000. The QSA of the euro area were deemed urgently needed and should be made available within 90 days of the end of the quarter concerned.

Indeed, the analysis of cyclical movements in the EU economy and the conduct of monetary policy within the

EMU require macroeconomic statistics on the economic behaviour and the interrelationship of individual institutional sectors which are impossible to identify in data compiled at the level of the economy as a whole.

This report covers the implementation of the QSA Regulation. It discusses how Member States met their legal obligations; the quality of the national and European statistics produced and the current benefits for users compared to collection/compilation costs together with plans for future enhancement.

The report finds that publication of a full set of integrated (non-financial and financial) institutional sector accounts for the euro area and non-financial sector accounts for the EU has been considered a major success by compilers and institutional users. As set in the project's specifications, quarterly non-financial sector accounts now allow the analysis of the behaviour of economic agents and their interactions in the real economy. Combined with the quarterly financial accounts, a fuller picture emerges.

Potential improvements: although the core needs expressed in the Action Plan on EMU Statistical Requirements have been met by QSA, some improvements can be proposed to extend their use further.

Timeliness: as a first priority, the Member States and Eurostat / ECB seek to improve the timeliness of euro area /EU accounts. However, better timeliness for euro area accounts depends on the earlier availability of input data.

Under the ongoing revision of the revised ESA transmission programme, it is proposed to shorten the deadlines for QSA transmissions to allow the compilation/publication of euro area/EU accounts by t+90 days instead of +120 days.

Reliability: another source of possible improvement lies with better quarterly sources for the households and non-financial corporations sectors. In some cases, countries use pure model based estimates which are not supported by direct or indirect quarterly information. It is important that the latter (model based) method is used only for transactions that play a minor role in the accounts. On the other hand, some countries have already started collecting direct data, e.g. from company accounts. Ideally, statistics would be generated as a by-product of the regular accounting of enterprises, at least for listed companies and administrative data / payrolls for households. Eurostat will continue monitoring and improving the quality of quarterly sector accounts through systematic data checks including cross-country comparisons. It will also foster the spreading of best compilation practices under the auspices of the CMFB task force on quarterly accounts by institutional sectors.

Coverage: QSA data users regularly express their interest in national QSA data availability. Consequently, publication of a harmonised set of national data, including seasonally adjusted figures, is one of the QSA development priorities for the near future.

In the same vein, it would be extremely useful to extend the set of key indicators calculated in real terms. Such volume data on household and business investment would complete current publications on real household income and consumption. A country breakdown should be possibly released at the same time as the corresponding European indicators. The provision of seasonally adjusted data in real terms, for a limited set of indicators, is under discussion in the context of the revision of the ESA transmission programme.

2005/07/22
   Final act published in Official Journal
Details

PURPOSE : to provide a common framework for the contributions of the Member States to the compilation of quarterly European non-financial accounts by institutional sector.

LEGISLATIVE ACT : Regulation 1161/2005/EC of the European Parliament and of the Council on the compilation of quarterly non-financial accounts by institutional sector.

CONTENT : the Council adopted this Regulation intended to establish a framework for Member States' participation in the compilation of quarterly non-financial European accounts by institutional sector.

The compilation of quarterly accounts is considered necessary for the analysis of Europe's

economic cycles and the implementation of monetary policy within the Economic and Monetary Union (EMU). Data are needed to provide an overview of economic behaviour in the different institutional sectors and of their interaction, a point which also emerges from the action plan on EMU statistical requirements approved by the Council in September 2000.

The main provisions laid down by the Regulation include:

- definitions and standards : the standards, definitions, classifications and accounting rules on data are those laid down by Regulation 2223/96/EC;

- reporting obligations : Member States forward data concerning the "rest of the world" sector and the "general government" sector. Member States with a GDP of less than 1% of the corresponding EU 25 total are not required to forward data concerning the other sectors (companies and households);

- updating : Member States are required to send the Commission quarterly data by sector at the latest 95 calendar days after the end of the quarter to which the data relate;

- consistency requirements : data forwarded should be consistent with the quarterly non-financial accounts of the general government and the quarterly main aggregates of the total economy.

Within five years of the entry into force of this Regulation, the Commission shall submit a report to the European Parliament and the Council on its implementation. In particular, this report shall provide information on the quality of the statistics produced; assess the benefits accruing to the Community, the Member States and the providers and users of statistical information of the statistics produced in relation to their costs; identify areas for potential improvement and amendments considered necessary in light of the results obtained.

ENTRY INTO FORCE : 11/08/2005.

2005/07/06
   CSL - Draft final act
Documents
2005/07/06
   CSL - Final act signed
2005/07/06
   EP - End of procedure in Parliament
2005/05/26
   EP - Text adopted by Parliament, 2nd reading
Details

The European Parliament adopted a resolution drafted by Astrid LULLING (EPP-ED, LU) and approved the Council’s common position.

2005/05/26
   EP - Results of vote in Parliament
2005/05/26
   EP - Decision by Parliament, 2nd reading
Details

The European Parliament adopted a resolution drafted by Astrid LULLING (EPP-ED, LU) and approved the Council’s common position.

Documents
2005/05/18
   EP - Committee recommendation tabled for plenary, 2nd reading
Documents
2005/05/18
   EP - Committee recommendation tabled for plenary, 2nd reading
Documents
2005/04/26
   EP - Vote in committee, 2nd reading
Details

The committee adopted the report by Astrid LULLING (EPP-ED, LU) approving the Council's common position unamended under the 2nd reading of the codecision procedure.

2005/04/22
   EP - Committee draft report
Documents
2005/04/14
   EP - Committee referral announced in Parliament, 2nd reading
2005/04/08
   EC - Commission communication on Council's position
Details

The Commission states its agreement with the Council's common position.

2005/03/29
   EP - LULLING Astrid (PPE-DE) appointed as rapporteur in ECON
2005/03/08
   CSL - Council position
Details

The amendments made to the common position in no way change the substance of the draft regulation. They delay its implementation by several months and provide for a transition period to allow Member States to comply with the 90-day deadline laid down for the transmission of data.

I n its common position, the Council has taken over the amendment proposed by the European Parliament. The Council considers that the modifications introduced in its common position are fully in line with the objectives of the regulation. The overall balance of the Council’s common position has been acknowledged by the Commission, which has accepted it as a satisfactory compromise package.

The Council has amended a recital, by deleting the expression “when these are residents in the European area” to take on board in full the European Parliament’s single amendment.

This recital has been changed in order to clarify that the scope of this regulation includes “the European Union or the Euro-zone, whichever is applicable”, instead of the “European area”.

More specifically, other amendments made by the Council exclusively concerned Article 2 on the procedures for the transmission of data. They aim to:

- specify that more detailed data will not be asked for before the Commission has submitted to the European Parliament and the Council a report on the implementation of the Regulation in its original form;

- introduce a three-year transition period from the date of entry into force of the Regulation, during which Member States would have 95 days to transmit the data, rather than the 90 days provided for once the Regulation is fully operational;

- push back by six months the date on which data must be transmitted for the first time; these will thus cover the third, rather than the first, quarter of 2005. Member States shall deliver these data no later than 3 January 2006 instead of 30 June 2005;

The above amendments will give the Member States the time needed to comply with the requirements of the new Regulation without compromising the objectives set out in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements.

2005/03/08
   CSL - Council position published
Details

The amendments made to the common position in no way change the substance of the draft regulation. They delay its implementation by several months and provide for a transition period to allow Member States to comply with the 90-day deadline laid down for the transmission of data.

I n its common position, the Council has taken over the amendment proposed by the European Parliament. The Council considers that the modifications introduced in its common position are fully in line with the objectives of the regulation. The overall balance of the Council’s common position has been acknowledged by the Commission, which has accepted it as a satisfactory compromise package.

The Council has amended a recital, by deleting the expression “when these are residents in the European area” to take on board in full the European Parliament’s single amendment.

This recital has been changed in order to clarify that the scope of this regulation includes “the European Union or the Euro-zone, whichever is applicable”, instead of the “European area”.

More specifically, other amendments made by the Council exclusively concerned Article 2 on the procedures for the transmission of data. They aim to:

- specify that more detailed data will not be asked for before the Commission has submitted to the European Parliament and the Council a report on the implementation of the Regulation in its original form;

- introduce a three-year transition period from the date of entry into force of the Regulation, during which Member States would have 95 days to transmit the data, rather than the 90 days provided for once the Regulation is fully operational;

- push back by six months the date on which data must be transmitted for the first time; these will thus cover the third, rather than the first, quarter of 2005. Member States shall deliver these data no later than 3 January 2006 instead of 30 June 2005;

The above amendments will give the Member States the time needed to comply with the requirements of the new Regulation without compromising the objectives set out in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements.

Documents
2005/03/08
   CSL - Council Meeting
2004/12/07
   CSL - Council Meeting
2004/03/30
   EP - Text adopted by Parliament, 1st reading/single reading
2004/03/30
   EP - Decision by Parliament, 1st reading/single reading
Documents
2004/03/16
   EP - Committee draft report
Documents
2004/03/16
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2004/03/16
   EP - Vote in committee, 1st reading/single reading
2004/03/16
   EP - Committee report tabled for plenary, 1st reading/single reading
Documents
2004/02/04
   ECB - Document attached to the procedure
2004/01/20
   EP - LULLING Astrid (PPE-DE) appointed as rapporteur in ECON
2003/12/18
   EP - Committee referral announced in Parliament, 1st reading/single reading
2003/12/16
   EC - Legislative proposal published

Documents

History

(these mark the time of scraping, not the official date of the change)

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  • date: 2005-05-26T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=4044&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-188 type: Decision by Parliament, 2nd reading title: T6-0188/2005 body: EP type: Results of vote in Parliament
  • date: 2005-07-06T00:00:00 body: CSL type: Final act signed
  • date: 2005-07-06T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2005-07-22T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005R1161 title: Regulation 2005/1161 url: http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2005:191:TOC title: OJ L 191 22.07.2005, p. 0022-0028
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  • date: 2004-02-04T00:00:00 docs: url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:C:2004:042:TOC title: OJ C 042 18.02.2004, p. 0023-0023 title: BCE(2004)0004 summary: type: Document attached to the procedure body: ECB
  • date: 2004-03-16T00:00:00 docs: title: PE333.112 type: Committee draft report body: EP
  • date: 2004-03-16T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-151&language=EN title: A5-0151/2004 type: Committee report tabled for plenary, 1st reading/single reading body: EP
  • date: 2004-03-30T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-199 title: T5-0199/2004 url: https://eur-lex.europa.eu/JOHtml.do?uri=OJ:C:2004:103E:SOM:EN:HTML title: OJ C 103 29.04.2004, p. 0030-0141 E summary: type: Text adopted by Parliament, 1st reading/single reading body: EP
  • date: 2005-03-08T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15235%2F04&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 15235/1/2004 url: https://eur-lex.europa.eu/JOHtml.do?uri=OJ:C:2005:144E:SOM:EN:HTML title: OJ C 144 14.06.2005, p. 0016-0023 E summary: The amendments made to the common position in no way change the substance of the draft regulation. They delay its implementation by several months and provide for a transition period to allow Member States to comply with the 90-day deadline laid down for the transmission of data. I n its common position, the Council has taken over the amendment proposed by the European Parliament. The Council considers that the modifications introduced in its common position are fully in line with the objectives of the regulation. The overall balance of the Council’s common position has been acknowledged by the Commission, which has accepted it as a satisfactory compromise package. The Council has amended a recital, by deleting the expression “when these are residents in the European area” to take on board in full the European Parliament’s single amendment. This recital has been changed in order to clarify that the scope of this regulation includes “the European Union or the Euro-zone, whichever is applicable”, instead of the “European area”. More specifically, other amendments made by the Council exclusively concerned Article 2 on the procedures for the transmission of data. They aim to: - specify that more detailed data will not be asked for before the Commission has submitted to the European Parliament and the Council a report on the implementation of the Regulation in its original form; - introduce a three-year transition period from the date of entry into force of the Regulation, during which Member States would have 95 days to transmit the data, rather than the 90 days provided for once the Regulation is fully operational; - push back by six months the date on which data must be transmitted for the first time; these will thus cover the third, rather than the first, quarter of 2005. Member States shall deliver these data no later than 3 January 2006 instead of 30 June 2005; The above amendments will give the Member States the time needed to comply with the requirements of the new Regulation without compromising the objectives set out in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements. type: Council position body: CSL
  • date: 2005-04-08T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2005/0135/COM_COM(2005)0135_EN.pdf title: COM(2005)0135 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2005&nu_doc=135 title: EUR-Lex summary: The Commission states its agreement with the Council's common position. type: Commission communication on Council's position body: EC
  • date: 2005-04-22T00:00:00 docs: title: PE357.716 type: Committee draft report body: EP
  • date: 2005-05-18T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-152&language=EN title: A6-0152/2005 type: Committee recommendation tabled for plenary, 2nd reading body: EP
  • date: 2005-05-26T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-188 title: T6-0188/2005 url: https://eur-lex.europa.eu/JOHtml.do?uri=OJ:C:2006:117E:SOM:EN:HTML title: OJ C 117 18.05.2006, p. 0019-0117 E summary: The European Parliament adopted a resolution drafted by Astrid LULLING (EPP-ED, LU) and approved the Council’s common position. type: Text adopted by Parliament, 2nd reading body: EP
  • date: 2005-07-06T00:00:00 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=3633%2F05&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 03633/2005 type: Draft final act body: CSL
  • date: 2010-09-30T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2010/0535/COM_COM(2010)0535_EN.pdf title: COM(2010)0535 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2010&nu_doc=535 title: EUR-Lex summary: The Commission presents a report concerning the implementation of Regulation (EC) No 1161/2005 on the compilation of quarterly non-financial accounts by institutional sector (QSA Regulation.) The compilation of QSA for the euro area had been identified as a priority in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements endorsed by the ECOFIN Council in September 2000. The QSA of the euro area were deemed urgently needed and should be made available within 90 days of the end of the quarter concerned. Indeed, the analysis of cyclical movements in the EU economy and the conduct of monetary policy within the EMU require macroeconomic statistics on the economic behaviour and the interrelationship of individual institutional sectors which are impossible to identify in data compiled at the level of the economy as a whole. This report covers the implementation of the QSA Regulation. It discusses how Member States met their legal obligations; the quality of the national and European statistics produced and the current benefits for users compared to collection/compilation costs together with plans for future enhancement. The report finds that publication of a full set of integrated (non-financial and financial) institutional sector accounts for the euro area and non-financial sector accounts for the EU has been considered a major success by compilers and institutional users. As set in the project's specifications, quarterly non-financial sector accounts now allow the analysis of the behaviour of economic agents and their interactions in the real economy. Combined with the quarterly financial accounts, a fuller picture emerges. Potential improvements: although the core needs expressed in the Action Plan on EMU Statistical Requirements have been met by QSA, some improvements can be proposed to extend their use further. Timeliness: as a first priority, the Member States and Eurostat / ECB seek to improve the timeliness of euro area /EU accounts. However, better timeliness for euro area accounts depends on the earlier availability of input data. Under the ongoing revision of the revised ESA transmission programme, it is proposed to shorten the deadlines for QSA transmissions to allow the compilation/publication of euro area/EU accounts by t+90 days instead of +120 days. Reliability: another source of possible improvement lies with better quarterly sources for the households and non-financial corporations sectors. In some cases, countries use pure model based estimates which are not supported by direct or indirect quarterly information. It is important that the latter (model based) method is used only for transactions that play a minor role in the accounts. On the other hand, some countries have already started collecting direct data, e.g. from company accounts. Ideally, statistics would be generated as a by-product of the regular accounting of enterprises, at least for listed companies and administrative data / payrolls for households. Eurostat will continue monitoring and improving the quality of quarterly sector accounts through systematic data checks including cross-country comparisons. It will also foster the spreading of best compilation practices under the auspices of the CMFB task force on quarterly accounts by institutional sectors. Coverage: QSA data users regularly express their interest in national QSA data availability. Consequently, publication of a harmonised set of national data, including seasonally adjusted figures, is one of the QSA development priorities for the near future. In the same vein, it would be extremely useful to extend the set of key indicators calculated in real terms. Such volume data on household and business investment would complete current publications on real household income and consumption. A country breakdown should be possibly released at the same time as the corresponding European indicators. The provision of seasonally adjusted data in real terms, for a limited set of indicators, is under discussion in the context of the revision of the ESA transmission programme. type: Follow-up document body: EC
events
  • date: 2003-12-16T00:00:00 type: Legislative proposal published body: EC docs: url: http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2003/0789/COM_COM(2003)0789_EN.pdf title: COM(2003)0789 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!DocNumber&lg=EN&type_doc=COMfinal&an_doc=2003&nu_doc=789 title: EUR-Lex summary:
  • date: 2003-12-18T00:00:00 type: Committee referral announced in Parliament, 1st reading/single reading body: EP
  • date: 2004-03-16T00:00:00 type: Vote in committee, 1st reading/single reading body: EP summary:
  • date: 2004-03-16T00:00:00 type: Committee report tabled for plenary, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-151&language=EN title: A5-0151/2004
  • date: 2004-03-30T00:00:00 type: Decision by Parliament, 1st reading/single reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-199 title: T5-0199/2004 summary:
  • date: 2005-03-08T00:00:00 type: Council position published body: CSL docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15235%2F04&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC title: 15235/1/2004 summary: The amendments made to the common position in no way change the substance of the draft regulation. They delay its implementation by several months and provide for a transition period to allow Member States to comply with the 90-day deadline laid down for the transmission of data. I n its common position, the Council has taken over the amendment proposed by the European Parliament. The Council considers that the modifications introduced in its common position are fully in line with the objectives of the regulation. The overall balance of the Council’s common position has been acknowledged by the Commission, which has accepted it as a satisfactory compromise package. The Council has amended a recital, by deleting the expression “when these are residents in the European area” to take on board in full the European Parliament’s single amendment. This recital has been changed in order to clarify that the scope of this regulation includes “the European Union or the Euro-zone, whichever is applicable”, instead of the “European area”. More specifically, other amendments made by the Council exclusively concerned Article 2 on the procedures for the transmission of data. They aim to: - specify that more detailed data will not be asked for before the Commission has submitted to the European Parliament and the Council a report on the implementation of the Regulation in its original form; - introduce a three-year transition period from the date of entry into force of the Regulation, during which Member States would have 95 days to transmit the data, rather than the 90 days provided for once the Regulation is fully operational; - push back by six months the date on which data must be transmitted for the first time; these will thus cover the third, rather than the first, quarter of 2005. Member States shall deliver these data no later than 3 January 2006 instead of 30 June 2005; The above amendments will give the Member States the time needed to comply with the requirements of the new Regulation without compromising the objectives set out in the Action Plan on Economic and Monetary Union (EMU) Statistical Requirements.
  • date: 2005-04-14T00:00:00 type: Committee referral announced in Parliament, 2nd reading body: EP
  • date: 2005-04-26T00:00:00 type: Vote in committee, 2nd reading body: EP summary: The committee adopted the report by Astrid LULLING (EPP-ED, LU) approving the Council's common position unamended under the 2nd reading of the codecision procedure.
  • date: 2005-05-18T00:00:00 type: Committee recommendation tabled for plenary, 2nd reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-152&language=EN title: A6-0152/2005
  • date: 2005-05-26T00:00:00 type: Results of vote in Parliament body: EP docs: url: https://oeil.secure.europarl.europa.eu/oeil/popups/sda.do?id=4044&l=en title: Results of vote in Parliament
  • date: 2005-05-26T00:00:00 type: Decision by Parliament, 2nd reading body: EP docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-188 title: T6-0188/2005 summary: The European Parliament adopted a resolution drafted by Astrid LULLING (EPP-ED, LU) and approved the Council’s common position.
  • date: 2005-07-06T00:00:00 type: Final act signed body: CSL
  • date: 2005-07-06T00:00:00 type: End of procedure in Parliament body: EP
  • date: 2005-07-22T00:00:00 type: Final act published in Official Journal summary: PURPOSE : to provide a common framework for the contributions of the Member States to the compilation of quarterly European non-financial accounts by institutional sector. LEGISLATIVE ACT : Regulation 1161/2005/EC of the European Parliament and of the Council on the compilation of quarterly non-financial accounts by institutional sector. CONTENT : the Council adopted this Regulation intended to establish a framework for Member States' participation in the compilation of quarterly non-financial European accounts by institutional sector. The compilation of quarterly accounts is considered necessary for the analysis of Europe's economic cycles and the implementation of monetary policy within the Economic and Monetary Union (EMU). Data are needed to provide an overview of economic behaviour in the different institutional sectors and of their interaction, a point which also emerges from the action plan on EMU statistical requirements approved by the Council in September 2000. The main provisions laid down by the Regulation include: - definitions and standards : the standards, definitions, classifications and accounting rules on data are those laid down by Regulation 2223/96/EC; - reporting obligations : Member States forward data concerning the "rest of the world" sector and the "general government" sector. Member States with a GDP of less than 1% of the corresponding EU 25 total are not required to forward data concerning the other sectors (companies and households); - updating : Member States are required to send the Commission quarterly data by sector at the latest 95 calendar days after the end of the quarter to which the data relate; - consistency requirements : data forwarded should be consistent with the quarterly non-financial accounts of the general government and the quarterly main aggregates of the total economy. Within five years of the entry into force of this Regulation, the Commission shall submit a report to the European Parliament and the Council on its implementation. In particular, this report shall provide information on the quality of the statistics produced; assess the benefits accruing to the Community, the Member States and the providers and users of statistical information of the statistics produced in relation to their costs; identify areas for potential improvement and amendments considered necessary in light of the results obtained. ENTRY INTO FORCE : 11/08/2005. docs: title: Regulation 2005/1161 url: https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005R1161 title: OJ L 191 22.07.2005, p. 0022-0028 url: https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2005:191:TOC
other
  • body: CSL type: Council Meeting council: Former Council configuration
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
procedure/dossier_of_the_committee
Old
ECON/6/27238
New
  • ECON/6/27238
procedure/final/url
Old
http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005R1161
New
https://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005R1161
procedure/subject
Old
  • 5.10 Economic union
  • 5.20 Monetary union
  • 8.60 European statistical legislation
New
5.10
Economic union
5.20
Monetary union
8.60
European statistical legislation
activities/0/docs/0/url
Old
http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2003/0789/COM_COM(2003)0789_EN.pdf
New
http://www.europarl.europa.eu/RegData/docs_autres_institutions/commission_europeenne/com/2003/0789/COM_COM(2003)0789_EN.pdf
activities/12/docs/1/url
Old
http://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:2005:191:SOM:EN:HTML
New
http://eur-lex.europa.eu/legal-content/EN/TXT/?uri=OJ:L:2005:191:TOC
links/European Commission/title
Old
PreLex
New
EUR-Lex
activities
  • date: 2003-12-16T00:00:00 docs: url: http://www.europarl.europa.eu/registre/docs_autres_institutions/commission_europeenne/com/2003/0789/COM_COM(2003)0789_EN.pdf celexid: CELEX:52003PC0789:EN type: Legislative proposal published title: COM(2003)0789 type: Legislative proposal published body: EC commission: DG: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
  • date: 2003-12-18T00:00:00 body: EP type: Committee referral announced in Parliament, 1st reading/single reading committees: body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
  • body: EP committees: body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A5-2004-151&language=EN type: Committee report tabled for plenary, 1st reading/single reading title: A5-0151/2004 date: 2004-03-16T00:00:00 type: Vote in committee, 1st reading/single reading
  • date: 2004-03-30T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P5-TA-2004-199 type: Decision by Parliament, 1st reading/single reading title: T5-0199/2004 body: EP type: Decision by Parliament, 1st reading/single reading
  • date: 2004-12-07T00:00:00 body: CSL type: Council Meeting council: Economic and Financial Affairs ECOFIN meeting_id: 2628
  • body: CSL meeting_id: 2646 docs: url: http://register.consilium.europa.eu/content/out?lang=EN&typ=SET&i=ADV&RESULTSET=1&DOC_ID=15235%2F04&DOC_LANCD=EN&ROWSPP=25&NRROWS=500&ORDERBY=DOC_DATE+DESC type: Council position published title: 15235/1/2004 council: Economic and Financial Affairs ECOFIN date: 2005-03-08T00:00:00 type: Council Meeting
  • date: 2005-04-14T00:00:00 body: EP type: Committee referral announced in Parliament, 2nd reading committees: body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
  • date: 2005-04-26T00:00:00 body: EP committees: body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid type: Vote in committee, 2nd reading
  • date: 2005-05-18T00:00:00 docs: url: http://www.europarl.europa.eu/sides/getDoc.do?type=REPORT&mode=XML&reference=A6-2005-152&language=EN type: Committee recommendation tabled for plenary, 2nd reading title: A6-0152/2005 body: EP committees: body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid type: Committee recommendation tabled for plenary, 2nd reading
  • date: 2005-05-26T00:00:00 docs: url: http://www.europarl.europa.eu/oeil/popups/sda.do?id=4044&l=en type: Results of vote in Parliament title: Results of vote in Parliament url: http://www.europarl.europa.eu/sides/getDoc.do?type=TA&language=EN&reference=P6-TA-2005-188 type: Decision by Parliament, 2nd reading title: T6-0188/2005 body: EP type: Results of vote in Parliament
  • date: 2005-07-06T00:00:00 body: CSL type: Final act signed
  • date: 2005-07-06T00:00:00 body: EP type: End of procedure in Parliament
  • date: 2005-07-22T00:00:00 type: Final act published in Official Journal docs: url: http://eur-lex.europa.eu/smartapi/cgi/sga_doc?smartapi!celexplus!prod!CELEXnumdoc&lg=EN&numdoc=32005R1161 title: Regulation 2005/1161 url: http://eur-lex.europa.eu/JOHtml.do?uri=OJ:L:2005:191:SOM:EN:HTML title: OJ L 191 22.07.2005, p. 0022-0028
committees
  • body: EP responsible: True committee: ECON date: 2005-03-29T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
  • body: EP responsible: True committee: ECON date: 2004-01-20T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: PPE-DE name: LULLING Astrid
links
European Commission
other
  • body: CSL type: Council Meeting council: Former Council configuration
  • body: EC dg: url: http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home title: Eurostat
procedure
dossier_of_the_committee
ECON/6/27238
reference
2003/0296(COD)
instrument
Regulation
legal_basis
EC Treaty (after Amsterdam) EC 285-p1
stage_reached
Procedure completed
subtype
Legislation
title
EMU statistics: quaterly non-financial accounts by institutional sector, common framework for Member States
type
COD - Ordinary legislative procedure (ex-codecision procedure)
final
subject