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Submission of data required for the compilation of the balance of payments

Passed 22.10.2013 No. 7
RT I, 25.10.2013, 1
Entry into force 01.02.2014

Amended by the following legal instruments (show)

This decree is established on the basis of subsection 91(3) of the Credit Institutions Act and subsection 30¹ (3¹) of the Official Statistics Act.
[RT I, 22.01.2021, 3 - entry into force 25.01.2021]

§ 1.  General Provisions

 (1) This decree sets requirements on the contents and structure for reporting of payments between the customers of credit institutions and the deadlines and procedure for submission of the reports to Eesti Pank.

 (2) The reports shall be used to gather data required for the compilation of the national balance of payments and for the Financial Intelligence Unit. The reporting shall not affect payment processing, shall be automated and shall comply with Regulation (EC) No 924/2009 of the European Parliament and of the Council of 16 September 2009 on cross- border payments in the Community, which was amended, with regard to Article 5, by Regulation (EU) No 260/2012 of the European Parliament and of the Council of 14 March 2012.
[RT I, 22.01.2021, 3 – entry into force 25.01.2021]

§ 2.  Application of the Decree

 (1) The reports established with the Decree shall be prepared and submitted by all credit institutions and branches of credit institutions operating in Estonia (hereinafter Credit institutions).

 (2) Credit institutions shall submit reports only on payment services rendered in entities located in Estonia.

§ 3.  Terms and definitions used in the Decree

 (1) Payment is an act of depositing or withdrawing cash, initiated by the payer or the payee, or a transfer of money, irrespective of the underlying legal relationship between the payer and the payee.

 (2) Domestic payment is a payment transaction where both the payer's payment service provider and the payee's payment service provider are located in the Republic of Estonia.

 (3) Cross-border payment is a payment transaction, where the payer's payment service provider or the payee's payment service provider is located outside the Republic of Estonia.

 (4) 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.

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

 (6) Customer is a natural or legal person (including a person not having a legal relationship with a reporting credit institution), except for a reporting credit institution.

 (7) Correspondent account is a bank account used for settling payments effected on the order and on the account of another credit institution.

 (8) Payment date or the customer's value date is the day of debiting or crediting of the customer’s account.

 (9) Payment currency is the currency in which the payment amount is transferred to the payee.

§ 4.  Reports and the general principles for preparation of reports

 (1) Credit institutions shall prepare and submit the following reports:
 1) “Report on cross-border payments of residents“, code 227 (Appendix 1);
 2) “Report on domestic payments of nonresidents”, code 228 (Appendix 2).

 (2) Payments on interim accounts or correspondent accounts which are originated in other credit institutions or forwarded to final beneficiaries in other credit institutions shall not be reported.

 (3) Payments between customers within a credit institution shall be treated as domestic payments.
[RT I, 13.07.2018, 6 – entry into force 01.01.2019]

 (4) The identification of domestic and cross-border payments shall not depend on the payment currency used.

 (5) A cash pool account shall be used as a virtual account, with the residence of the originator or payee of the payment not depending on the location of the parent company.

 (6) Non-completed payments returned to the payee due to deficient information shall not be reported.

§ 5.  Reporting threshold

  Payments amounting to and exceeding 10,000 euros or the corresponding amount in any other currency shall be reported.

§ 6.  Reporting period and submission dates

 (1) The reporting period of the reports specified in subsection 4 (1) shall be the calendar month.

 (2) Credit institutions shall submit the reports specified in subsection 4 (1) to Eesti Pank by the seventh banking day after the end of the reporting period.

§ 7.  Submission of reports

 (1) The reports shall be submitted to Eesti Pank electronically in the XML (eXtensible Markup Language) format, as in Decree No. 2018 of the Governor of Eesti Pank of 4 May 29 "Requirements for the electronic submission of reports" (RT I, 05.06.2018, 1).
[RT I, 13.07.2018, 6 – entry into force 01.01.2019]

 (2) [Repealed – RT I, 13.07.2018, 6 – entry into force 01.01.2019]

 (3) In the absence of data on the reporting area, a blank report shall be submitted.

§ 8.  Preservation of reports

  Reports submitted to Eesti Pank shall be preserved within the credit institutions for a period of one year.

§ 9.  Implementing Provisions

 (1) [Omitted from this text].

 (2) Data gathered but not yet submitted to Eesti Pank under the decree specified in subsection 1 of this section prior to its repeal shall be submitted to Eesti Pank in accordance with the requirements of the above decree by 21 February 2014 at the latest.

§ 10.  Entry into force of the Decree

  This Decree enters into force on 1 February 2014.

Appendix 1 Report on cross-border payments of residents
[RT I, 13.07.2018, 6 - entry into force 01.01.2019]

Appendix 2 Report on domestic payments of non-residents
[RT I, 13.07.2018, 6 - entry into force 01.01.2019]

Appendix 3 Technical specifications and submission format of reports
[Repealed - RT I, 13.07.2018, 6 - entry into force 01.01.2019]