Article 14
Reporting settlement fails
1.
CSDs shall communicate the information referred to in Annex I to the competent authority and the relevant authorities on a monthly basis and by close of business on the fifth business day of the following month.
That information shall include the relevant values in EUR. Any value conversion into EUR shall be carried out using the official exchange rate of the ECB of the last day of the reporting period where that official exchange rate of the ECB is available.
CSDs shall report more frequently and provide additional information on settlement fails if so requested by the competent authority.
2.
By 20 January of each year, CSDs shall report to the competent authority and the relevant authorities the information referred to in Annex II, including the measures planned or taken by CSDs and their participants to improve the settlement efficiency of the security settlement systems it operates.
CSDs shall regularly monitor the application of the measures referred to in the first subparagraph and shall provide the competent authority and the relevant authorities, upon request, with any relevant findings resulting from such monitoring.
3.
The information referred to in paragraphs 1 and 2 shall be provided in a machine-readable format.
4.
The value of settlement instructions referred to in Annexes I to III shall be calculated as follows:
(a)
in the case of settlement instructions against payment, the settlement amount of the cash leg;
(b)
in the case of FoP settlement instructions, the market value of the financial instruments referred to in Article 32(3) or, where not available, the nominal value of the financial instruments.