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Establishment of substantive and formal requirements for the balance sheet and income statement of credit institutions

Passed 23.05.2014 No. 6
RT I, 28.05.2014, 1
Entry into force 01.09.2014

Amended by the following legal instruments (show)

This decree is established under § 2(2)7) of the Eesti Pank Act, § 91(1) and § 91(3) of the Credit Institutions Act, and Article 5 of the Statute of the European System of Central Banks and of the European Central Bank under Article 4 of Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (OJ L 318, 27.11.1998, p. 8–19).
[RT I, 18.06.2024, 1 - entry into force 21.06.2024]

Chapter 1 General Provisions 

§ 1.  Scope of the Decree

 (1) This decree establishes the requirements for the substance and form of the balance sheet and income statement of credit institutions and branches of credit institutions (hereinafter credit institution), and the terms and procedure for submission of reports to Finantsinspektsioon and Eesti Pank.
[RT I, 18.06.2024, 1 - entry into force 21.06.2024]

 (2) The reports required under the decree are also used to meet the requirements set in Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).
[RT I, 18.06.2024, 1 - entry into force 21.06.2024]

§ 2.  Application of the Decree

  This decree shall apply to all credit institutions operating in Estonia, on an individual basis.

Chapter 2 Reports, principles for preparing reports, and submission of reports 

§ 3.  Reports

 (1) A credit institution prepares and submits the report on the balance sheet of the credit institution (Appendix 5) to Finantsinspektsioon.

 (2) A credit institution prepares and submits the report on the income statement of the credit institution (Appendix 6) to Eesti Pank.

 (3) A credit institution with branches outside Estonia is required:
 1) to prepare and submit to Eesti Pank the report specified in § 3(1) of this decree, which only recognises the data of the credit institution’s entity located in Estonia (head office);
 2) in the report specified in § 3(2) of this decree, to recognise only the data of the credit institution’s entity located in Estonia (head office).
[RT I, 19.06.2018, 1 – entry into force 01.01.2019]

§ 4.  Principles for preparing reports

 (1) In preparing the balance sheet and the income statement, the assets, liabilities, equity, income and expenses shall be recorded and measured on the basis of the International Financial Reporting Standards that have been adopted under the procedure provided in Regulation No 1606/2002/EC of the European Parliament and of the Council on the application of international accounting standards (OJ L 243, 11.09.2002).
[RT I, 22.06.2016, 16 - entry into force 01.01.2017]

 (2) The balance sheet and income statement shall be prepared in accordance with the instructions provided in Annex V of Commission Implementing Regulation (EU) 2021/451 of 17 December 2020 laying down implementing technical standards for the application of Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to supervisory reporting of institutions and repealing Implementing Regulation (EU) No 680/2014(OJ L 97, 19.3.2021, pp. 1–1955), and Appendixes 1 “Balance sheet statement” and 2 “Income statement” of this decree.
[RT I, 28.05.2021, 1 - entry into force 28.06.2021]

 (3) The balance sheet and income statement shall be prepared in euros, rounded off to integers. Amounts expressed in foreign currency shall be translated into euros at the official exchange rate of the European Central Bank on the last banking day of the reporting period.

 (4) Balance sheet data shall be submitted as at the end of each reporting period, and income statement data shall be submitted cumulatively as of the beginning of the accounting year.

 (5) [Repealed – RT I, 02.08.2017, 1 – entry into force 01.01.2018]

 (6) [Repealed – RT I, 02.08.2017, 1 – entry into force 01.01.2018]

 (7) [Repealed – RT I, 02.08.2017, 1 – entry into force 01.01.2018]

 (8) [Repealed – RT I, 02.08.2017, 1 – entry into force 01.01.2018]

 (9) [Repealed – RT I, 02.08.2017, 1 – entry into force 01.01.2018]

§ 5.  Principles for determining residency

 (1) Residents are:
 1) state authorities or agencies of the Republic of Estonia in the broadest sense (legislative, executive and judicial bodies or their agencies, and constitutional institutions), and local governments or their agencies;
 2) Estonian diplomatic, consular or other official representations in foreign countries, and representative offices of other Estonian institutions or organisations abroad which are not engaged in any economic or commercial activity;
 3) legal persons in public law and their agencies formed under the laws of the Republic of Estonia;
 4) legal persons in private law registered in the Republic of Estonia, or their representative offices (including cross-border service providers);
 5) companies (Societas Europaea, SE) or cooperatives (Societas Cooperativa Europaea, SCE) registered in the Republic of Estonia under the statute for a European company, or their representative offices;
 6) branches of foreign legal persons registered in the Republic of Estonia;
 7) Estonian citizens residing in the Republic of Estonia;
 8) aliens residing in the Republic of Estonia who hold a permanent residence permit or a temporary residence permit for at least one year;
 9) people specified in clauses 7 or 8, studying or undergoing medical treatment abroad, whatever the duration of their studies or medical treatment;
 10) people specified in clauses 7 or 8 who are members of a ship crew, or seasonal or cross-border workers abroad, whatever the duration of their stay abroad;
 11) diplomats, military personnel, and staff of consular or other official representations of the Republic of Estonia and their family members abroad who enjoy immunity and diplomatic privileges.

 (2) A non-resident is anyone not covered by the definition of residents.

§ 6.  Reporting period and submission dates

 (1) The reporting period for the report referred to in § 3(1) is one month. The reporting period for the report referred to in § 3(2) is one quarter (three months).

 (2) The report referred to in § 3(1) shall be submitted by the seventh banking day after the end of the reporting period, and the report referred to in § 3(2) shall be submitted by the tenth banking day after the end of the reporting period.
[RT I, 02.08.2017, 1 - entry into force 01.01.2018]

§ 7.  Submission of reports

 (1) The reports shall be submitted to Finantsinspektsioon and Eesti Pank electronically in the XML (eXtensible Markup Language) format, as in Decree No. 4 of the Governor of Eesti Pank of 29 May 2018 “Requirements for the electronic submission of reports” (RT I, 05.06.2018, 1).

 (2) If errors have been found or accounting principles have been changed, corrected reports shall be submitted electronically.
[RT I, 19.06.2018, 1 – entry into force 01.01.2019]

Chapter 3 Implementing Provisions 

§ 8.  Repeal of the Decree

  [Omitted from this text].

§ 9.  Entry into force and application of the Decree

 (1) This decree shall enter into force on 1 September 2014.

 (2) This decree shall be applied to the preparation and submission of reports starting from reporting periods ending on 30 September 2014.

Appendix 1 Balance sheet statement
[RT I, 02.08.2017, 1 - entry into force 01.01.2018]

Appendix 2 Scheme of income statement
[RT I, 28.05.2021, 1 - entry into force 28.06.2021]

Appendix 3 Explanation of balance sheet items
[Repealed - RT I, 02.08.2017, 1 - entry into force 01.01.2018]

Appendix 4 Explanation of income statement items
[Repealed - RT I, 02.08.2017, 1 - entry into force 01.01.2018]

Appendix 5 Report on the balance sheet of credit institution
[RT I, 19.06.2018, 1 - entry into force 01.07.2018]

Appendix 6 Report "Income statement of credit institution"
[RT I, 28.05.2021, 1 - entry into force 28.06.2021]