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

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’), as well as the terms and procedure for submission of reports to the Financial Supervision Authority and Eesti Pank.

[RT I, 02.08.2017, 1 – entry into force 01.01.2018]

This Decree shall be applied to all credit institutions operating in Estonia, on an individual basis.

(1) A credit institution is required to prepare and submit to the Financial Supervision Authority the following reports

1) “Balance sheet of credit institution", code 21 (Appendix 5);

2) “Income statement of credit institution", code 22 (Appendix 6).

(2) A credit institution with branches outside Estonia is additionally required to prepare and submit to Eesti Pank the reports referred to in subsection (1) of this section for the credit institution unit located in Estonia (the head office).

[RT I, 02.08.2017, 1 – entry into force 01.01.2018]

(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 pursuant to 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) No 680/2014 laying down implementing technical standards with regard to supervisory reporting of institutions according to Regulation (EU) No 575/2013 of the European Parliament and of the Council (OJ L 191, 28.6.2014, pp 1–1861), and Appendixes 1

„Balance sheet statement“ and 2 „Income statement“ of this Decree. [RT I, 02.08.2017, 1 – entry into force 01.01.2018]

(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, based on the official exchange rate of the European Central Bank valid 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]

(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, constitutional institutions), as well as local governments or their agencies;

2) Estonian diplomatic, consular or other official representations in foreign countries, as well as 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, established 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) persons specified in clauses 7 or 8, studying or undergoing medical treatment in a foreign country, irrespective of the duration of studies or medical treatment;

10) ship crews, seasonal or border workers who are persons specified in clauses 7 or 8 and are staying in a foreign country, irrespective of the duration of their stay in the foreign country;

11) diplomats, military personnel, staff of consular or other official representations of the Republic of Estonia as well as their family members staying in a foreign country and enjoying immunity and diplomatic privileges.

(2) Non-residents are persons who are not included in the definition of ’resident’.

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

(2) The report referred to in clause 3(1) 1) shall be submitted by the seventh banking day after the end of the a period, and the report referred to in clause 1 of section 3 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]

(1) The reports shall be submitted to the Financial Supervision Authority electronically in the XML (eXtensible Markup Language) format, pursuant to Eesti Pank Governor’s Decree No.

9 of 9 December 2011 "Requirements for submission of reports formatted as XML documents".

(2) Should errors be discovered or the reporting principles changed, new, rectified reports shall be submitted to the Financial Supervision Authority in electronic form.

(3) In case a credit institution has branches outside Estonia, the reports referred to in subsection 3(1) of this Decree shall be submitted with a four-digit identifier for the reporting entity, the first three numbers of which correspond to the identifier used for identifying the reporting credit institution in Estonian interbank settlements and the fourth number is 1 (one).

[RT I, 02.08.2017, 1 – entry into force 01.01.2018]

[Omitted from this text].

(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.