Article 37
Reporting to competent authorities
1.
For each MMF that it manages, the manager of the MMF shall report information to the competent authority of the MMF on at least a quarterly basis.
By way of derogation from the first subparagraph, for an MMF whose assets under management in total do not exceed EUR 100 000 000 , the manager of the MMF shall report to the competent authority of the MMF on at least an annual basis.
The manager of an MMF shall upon request provide the information reported pursuant to the first and second subparagraphs also to the competent authority of the manager of an MMF, if different from the competent authority of the MMF.
2.
The information reported pursuant to paragraph 1 shall comprise the following points:
(a)
the type and characteristics of the MMF;
(b)
(c)
the results of stress tests and, where applicable, the proposed action plan;
(d)
information on the assets held in the portfolio of the MMF, including:
(i)
the characteristics of each asset, such as name, country, issuer category, risk or maturity, and the outcome of the internal credit quality assessment procedure;
(ii)
the type of asset, including details of the counterparty in the case of derivatives, repurchase agreements or reverse repurchase agreements;
(e)
information on the liabilities of the MMF, including:
(i)
the country where the investor is established;
(ii)
the investor category;
(iii)
subscription and redemption activity.
If necessary and duly justified, competent authorities may solicit additional information.
3.
In addition to the information referred to in paragraph 2, for each LVNAV MMF that it manages, the manager of an MMF shall report the following:
(a)
every event in which the price of an asset valued by using the amortised cost method in accordance with the first subparagraph of Article 29(7) deviates from the price of that asset calculated in accordance with Article 29(2), (3) and (4) by more than 10 basis points;
(b)
every event in which the constant NAV per unit or share calculated in accordance with Article 32(1) and (2) deviates from the NAV per unit or share calculated in accordance with Article 30 by more than 20 basis points;
(c)
every event in which a situation mentioned in Article 34(3) occurs and the measures taken by the board in accordance with points (a) and (b) of Article 34(1).
4.
ESMA shall develop draft implementing technical standards to establish a reporting template that shall contain all the information referred to in paragraphs 2 and 3.
ESMA shall submit those draft implementing technical standards to the Commission by 21 January 2018.
Power is conferred on the Commission to adopt the implementing technical standards referred to in the first subparagraph in accordance with Article 15 of Regulation (EU) No 1095/2010.
5.
Competent authorities shall transmit to ESMA all information received pursuant to this Article. Such information shall be transmitted to ESMA no later than 30 days after the end of the reporting quarter.
ESMA shall collect the information to create a central database of all MMFs established, managed or marketed in the Union. The European Central Bank shall have a right of access to that database, for statistical purposes only.