Circular BCL 2015/238 - Introduction of a new statistical reporting on renminbi-denominated operations
On 12 January 2015, the Luxembourg Central Bank published Circular BCL 2015/238 related to the introduction of a new statistical reporting on renminbi-denominated operations.
In accordance to the announcement made at the signing of the Memorandum of Understanding, the BCL will ensure the monitoring of the renminbi market in Luxembourg and will share data with People Bank of China.
To reach this agreement, the Luxembourg Central Bank introduced a new reporting requirement. The new reporting will essentially enable a better monitoring of the evolution of credit institutions’ renminbi-denominated loans and deposits. The Luxembourg Central Bank decided to develop a dedicated statistical report rather than integrating the new requirements into the existing statistical reporting framework.
The additional data requirements on renminbi-denominated loans and deposits will be implemented by means of a new report labelled S 1.9 «Information on CNY operations».
These changes must be implemented as of reporting period June 2015.