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Forms of reports of a creditor or credit intermediary and a branch of a foreign creditor or credit intermediary submitted to the Financial Supervision Authority, methodology of preparation and procedure for submission

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Forms of reports of a creditor or credit intermediary and a branch of a foreign creditor or credit intermediary submitted to the Financial Supervision Authority, methodology of preparation and procedure for submission - content
Issuer:Minister of Finance
Type:regulation
In force from:01.01.2019
In force until:
Translation published:26.11.2018

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In force

Forms of reports of a creditor or credit intermediary and a branch of a foreign creditor or credit intermediary submitted to the Financial Supervision Authority, methodology of preparation and procedure for submission

Passed 19.12.2015 Annex 50
RT I, 29.12.2015, 52
Entry into force 01.01.2016

Amended by the following legal instruments (show)

PassedPublishedEntry into force
13.06.2018RT I, 20.06.2018, 101.01.2019

The Regulation is established pursuant to subsection 57 (5) of the Creditors and Credit Intermediaries Act.

Chapter 1 General provisions 

§ 1.  Scope of application

  The Regulation provides the forms of reports of a creditor or a foreign creditor branch (hereinafter “creditor”) and of a credit intermediary or a foreign credit intermediary branch (hereinafter “credit intermediary”) submitted to the Financial Supervision Authority, requirements to the content of the reports, including content of the entries used in the reports and the methodology of preparation and procedure for submitting the reports.
[RT I, 20.06.2018, 1 – entry into force 01.01.2019]

Chapter 2 Principles of preparing reports and submission 

§ 2.  Reports prepared

 (1) The creditor is obligated to prepare and submit the following reports:
 1) “Balance sheet” according to Annex 1 (attached);
 2) “Income statement” according to Annex 2 (attached);
 3) “Report on the turnover of consumer credits issued in Estonia” according to Annex 3 (attached); [RT I, 20.06.2018, 1 – entry into force 01.01.2019]
 4) “Report on the balance of consumer credits issued in Estonia” according to Annex 4 (attached); [RT I, 20.06.2018, 1 – entry into force 01.01.2019]
 5) “Report on the consumers of creditor” according to Annex 5 (attached);
 6) “Report on the consumer credit claims deducted from the balance sheet” according to Annex 6 (attached);
 7) “Report on the balance of consumer credits issued in a foreign country” according to Annex 7 (attached).
[RT I, 20.06.2018, 1 – entry into force 01.01.2019]

 (2) The credit intermediary is obligated to prepare and submit the reports specified in clauses 1–3 of subsection 1 of this paragraph.

 (3) When submitting reports the following codes of reports designated by the Financial Supervision Authority must be used:
 1) “Balance sheet” with code 6101;
 2) “Income statement” with code 6102;
 3) “Report on the turnover of consumer credits issued in Estonia” with code 6107; [RT I, 20.06.2018, 1 – entry into force 01.01.2019]
 4) “Report on the balance of consumer credits issued in Estonia” with code 6108; [RT I, 20.06.2018, 1 – entry into force 01.01.2019]
 5) “Report on the consumers of creditor” with code 6105;
 6) “Report on the consumer credit claims deducted from the balance sheet” with code 6106;
 7) “Report on the balance of consumer credits issued in a foreign country” with code 6109. [RT I, 20.06.2018, 1 – entry into force 01.01.2019]

 (4) The provisions of Eesti Pank Governor’s Decree No. 8 of 6 November 2012 “Establishment of requirements to the contents and form of savings and loan associations' balance sheet statement and income statement and the procedure of submitting the reports to Eesti Pank” are applied to the balance sheet and income statement of a savings and loan association and their submission and the balance sheet and income statement are submitted to the Financial Supervision Authority through the Bank of Estonia.

 (5) The provisions of Regulation No. 54 of the Minister of Finance of 21 October 2010 “Procedure for calculating the own funds of payment institutions and formats of reports, methodology of preparing reports and procedure for submission” are applied to the balance sheet and income statement of a creditor or credit intermediary that is a payment institution specified in subsection 5 (1) of the Payment Institutions and E-money Institutions Act, and to their submission.

§ 3.  Bases of preparing reports

 (1) Data recorded in the reports are submitted in the financial currency officially in force in Estonia and in full units, subject to this Regulation.

 (2) Sums fixed in foreign currency are recalculated into the official currency in force in Estonia at the rate of the European Central Bank of the final working day of the accounting period.

 (3) In reports specified in clauses 2 (1) 1), 4), 5) and 7) of this Regulation, data is submitted as at the end of the accounting period.
[RT I, 20.06.2018, 1 – entry into force 01.01.2019]

 (4) In the report specified in clause 2 (1) 2) of this Regulation, data is submitted cumulatively from the beginning of the financial year.

 (5) In reports specified in clauses 2 (1) 3) and 6) of this Regulation, data is submitted on the basis of the turnover that took place in the accounting period.

§ 4.  Principles of preparing reports

 (1) When preparing the balance sheet and income statement the assets, obligations, equity, revenue and expenditure are measured and recorded in accordance with the Estonian Generally Accepted Accounting Principles or the international financial reporting standards approved by the European Commission pursuant to the procedure established in Regulation (EC) 1606/2002 of the European Parliament and of the Council on the application of international accounting standards (ELT L 243, 11.09.2002, p 1–4), considering the differences provided in this Regulation.

 (2) Forms of reports and guidelines for preparation provided in Annexes 1–7 of this Regulation are used as the basis when preparing reports.
[RT I, 20.06.2018, 1 – entry into force 01.01.2019]

 (3) Contracts specified in subsection 403 (2) of the Law of Obligations Act are not considered as a consumer credit contract when preparing reports provided in Annexes 1–6 of this Regulation.

 (4) In the reports submitted to the Financial Supervision Authority the change in fair value of financial assets measured in fair value is recorded in the income statement of the creditor and credit intermediary and the revaluation surplus of financial assets is not used for this.

 (5) In the income statement of the creditor and credit intermediary the interests calculated on an accrual basis related to financial investments measured in fair value and declared dividends are shown in the entries of interest income and the respective financial revenue and expenditure.

§ 5.  Submitting reports

 (1) Reports are submitted to the Financial Supervision Authority electronically as a document formatted in XML (eXtensible Markup Language), complying with the requirements for securing data exchange.

 (2) When submitting reports the creditor and credit intermediary is obligated to comply with the technical requirements, which have been established with Eesti Pank Governor’s Decree No. 9 of 9 December 2011 „Requirements for submission of reports formatted as XML documents”.

 (3) On absence of the data submitted in the report an empty report must be submitted.

Chapter 3 Implementation 

§ 6.  Implementing the Regulation

  The Regulation is applied upon preparation and submission of reports on accounting periods, which end on 31 March 2016 or later.

§ 7.  Entry into force of the Regulation

  The Regulation enters into force on 1 January 2016.

Annex 1 Balance sheet
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]

Annex 2 Income statement
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]

Annex 3 Report on the turnover of consumer credits issued in Estonia
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]

Annex 4 Report on the balance of consumer credits issued in Estonia
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]

Annex 5 Report on the consumers of creditor
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]

Annex 6 Report on the consumer credit claims deducted from the balance sheet

Annex 7 Report on the balance of consumer credits issued in a foreign country
[RT I, 20.06.2018, 1 - entry into force 01.01.2019]