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This initiative provides for the collection of statistical data from financial sector companies not currently covered by any other data collection scheme.

The main objective is to improve the data quality of balance-of-payments (BoP) and international investment position (IIP) statistics — key datasets required by the European Central Bank (ECB).

The legal basis flows from ECB Guideline ECB/2011/23 on statistical reporting requirements in the field of balance-of-payments, IIP statistics, and international reserve position.

To fulfil its obligations, the BCL adopted BCL Regulation 2014/N°17 of 21 July 2014 concerning the collection of statistics from financial companies, amending BCL Regulation 2011/N°8 of 29 April 2011.

Both texts are available on the BCL website under Regulatory Reporting → Sociétés financières → Règlements.

Under Article 1.5 of BCL Regulation 2014/17, a financial company is any company whose objects include at least one of the following:

1. Investment in any society for any kind of investment;
2. Acquisition (by subscription, purchase, exchange, etc.) of securities, shares, bonds, receivables, certificates of deposit or other financial instruments;
3. Direct or indirect investment in real estate, patents or intellectual property rights;
4. Borrowing in any form;
5. Lending funds to shareholders, subsidiaries, affiliates, or any other entity.

In practice this covers all companies whose economic activity focuses on direct or indirect financing of group activities — including SOPARFIs, companies holding ships or oil rigs, and SCSp structures not registered as regulated or non-regulated AIFs.

Financial companies above the threshold must submit the following reports periodically:

• Report S 2.16 — Quarterly statistical balance of financial companies (Layout 2)
• Report S 2.17 — Transactions of financial companies (Layout 2, quarterly)
• Report TPT/SBS — Monthly security-by-security reporting (Layout 2)

Full instructions are available on the BCL website under Regulatory Reporting → Sociétés financières → Instructions.

The UCP is the entity that ultimately controls an enterprise. Identification proceeds up the ownership chain through controlling links (ownership of more than 50% of voting power) until reaching an individual, household, or company not controlled by another.

If no entity controls the resident enterprise, the resident enterprise is considered its own UCP.

Yes. The threshold aims to compile statistics covering 95% of the total balance sheet of the population while limiting the burden on smaller companies.

The current threshold of €500 million (or equivalent in foreign currency) may be increased or lowered on an annual basis by the BCL.

Yes. The threshold applies individually to all companies of a group. Each entity is assessed on its own total balance sheet, regardless of the group’s consolidated position.

All reporting agents are expected to self-declare. Per Article 2.1 of BCL Regulation 2011/8, every financial company whose quarterly balance sheet total exceeds the threshold must inform the BCL within one month of crossing it.

Waiting for a letter from the BCL is not a valid reason for delayed compliance.

The following instruments are all classified as debt securities:

• Treasury bills
• Negotiable certificates of deposit
• Bankers’ acceptances
• Promissory notes
• Commercial papers

Certificates — whether identified by an ISIN code or not — must be classified as debt securities:

• Assets side: line 1-003000
• Liabilities side: line 2-003000

PECs are hybrid instruments combining equity and debt features — long maturity (10+ years), no ISIN code, no voting rights, and interest-based yield.

Following a BCL methodological review, all variants of PECs (CPEC, IPPEC, YFPECs, etc.) not identified by an ISIN code must be treated as loans in statistical reporting.

Classified in S 2.16 as short-term loans:

• Item: 1-N02000 or 2-N02000
• Country: Country of residence of the bank or postal institution
• Currency: Currency of the account or cheque
• Economic sector: 32100
• Original maturity: I000-01A — equal or below 1 year

Per Article 7.2 of BCL Regulation 2011/8, the BCL regularly publishes current transmission dates on its website under Regulatory Reporting → Financial companies.

Companies newly required to report benefit from a grace period of two to three months to establish their reporting processes.

17.1 Falling below the threshold

Transmit a final S 2.16 and SBS (and possibly S 2.17) for the end of the current quarter, then stop from the following period.

17.2 Liquidation

Submit final reports up to the month prior to cessation of activity.

17.3 Exceeding the threshold

Transmit a first S 2.16 and SBS for the end of the quarter during which the threshold was exceeded.

17.4 Newly created company above threshold

First S 2.16 for end of quarter of creation; first SBS for month of creation.

Reporters cannot be held responsible when transmission channels or the BCL are unable to handle the volume of lodged files. Provided files are submitted on time, no additional deadline is required.

Format: Standardised XML files conforming to the Manual of Electronic Transmission and Compendium of Verification Rules.

Transmission channels (secured):

• Worldline Financial Services (Europe) S.A. — Sofie
• Fundsquare — E-File

• Only for the first reference period as a short-term transitional measure;
• Subsequently, reporters must transmit in XML format;
• The BCL cannot guarantee confidentiality when non-encrypted channels are used.

The numerical part of the RCS number, zero-padded to 7 digits.

Both reporter and reporting agent identifiers are 10-character alphanumeric strings:

The survey covers Luxembourg-resident companies only. Branches abroad are excluded from scope but treated statistically as subsidiaries — positions and transactions between the Luxembourg entity and its foreign branch must be reported.

For Great Britain always use GB — not UK. Take special care with these commonly confused ISO codes:

Any standard allowing timely submission may be used, subject to:

• Loans reported at nominal value;
• Same standard used across all reports;
• Participations estimated at fair value.

No. The BCL accepts non-audited or not-yet-approved data. Submit on time using provisional figures — these may be revised at any time after submission.

27.1 — Perpetual bonds without ISIN
Report the maturity date as 01/01/2999.

27.2 — Unknown issue date
Report the acquisition date as a proxy.

27.3 — Provisional ISIN codes
ISIN codes starting with Q or X (except XS and QA) are not valid. Use identification code type 2.

27.4 — Borrowed securities sold short
Do not report as held assets. If sold short, use holding type 05 (Short sales of securities).

27.5 — ETCs and ETNs
Classify as long-term debt securities (instrument type F.32), reported under item 1-003000. Sector codes: 42900 (SPVs) or 32100 (credit institutions).

27.6 — Reverse repo transactions
Do not enter in SBS (company is not economic holder). Transfer price → debt under item 1-002000; interest received → item 1-090000 (Other assets).

27.7 — Securities held as collateral in a repo
Enter in SBS with holding type 03. Repurchase price (ex. interest) → liability under items 1-LA2001/2/3 or 1-N02000.

27.8 — Structured products
Treat as debt instruments unless they meet the definition of financial derivatives (options, warrants, tradable futures/swaps).

Transactions → S 2.17 (if items 1-006000, 1-007000, or 2-011000 individually exceed 5% of total balance sheet).
Positions → S 2.16.

28.1.1 — Amount in items 1-007000 / 2-011000
Only instruments with a market value are entered, at market value. Notional amounts are not reported.

28.1.2 — Margin deposits
Made: item 1-N02000. Received: item 2-N02000.

28.1.3 — Unrealised gains/losses
Included in NAV → items 1-007000 and 2-011000 of S 2.16.

28.1.4 — Counterparty country
Known counterparty (OTC): use counterparty’s country of residence. Unknown (exchange-traded): use the country of the exchange.

28.1.5 & 28.1.6 — TBA and CFD contracts
Unrealised gains/losses → items 1-007000 and 2-011000 of S 2.16.

28.2 — Warrants
Always treated as derivatives — never as equities or shares. Not reportable in SBS even with a valid ISIN.

28.7 — Security types for non-ISIN securities

• Debt securities → F.3
• Quoted shares → F.511
• Unquoted shares (SA, limited companies) → F.512
• Other equity (SàRL, GmbH, BV, LCC, SRL) → F.519
• Investment fund shares/units → F.52

28.9 — Type name vs cotation type

28.10 — Own shares held
Temporary: all issued shares under 2-C05000; own shares under 1-005000 with country LU and affiliation link 03.
Permanent: exclude from assets; deduct same amount from liabilities item 2-C05000.