Disclosure of data on TLTROs

Paul Schreiber a fait une demande de Accès à l'information à Banque centrale européenne

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La demande a été rejetée par Banque centrale européenne.

Dear European Central Bank,

Today, individual banks disclose data on how much they have borrowed from the TLTROs and at what rate on a voluntary basis. However, the ECB itself do not publish this data and the ESMA recently underlined the insufficient transparency of TLTRO operations.

This is highly problematic in the context of the Covid crisis as:
- The ECB heavily rely on TLTROs to provide an accommodative monetary policy (1.59 trillion in 2020 only);
- The ECB provides banks with negative TLTRO rates (- 1%) if they reach a pre-defined level of lending, thus giving several billion euros to the European banking sector.

It is worth noting that the Bank of England disclose data regarding its Term funding scheme on its website.

Therefore, under the right of access to documents in the EU treaties, as developed in Regulation 1049/2001, I am requesting documents which contain the following information:
- The list of banks that are borrowing under TLTROs, how much they are borrowing and at what rate;
- The estimated profit from negative rate TLTROs for each bank that benefit from this exceptional provision.

Yours faithfully,

Paul Schreiber

Reclaim Finance

Access to documents,

Dear Mr Schreiber,

 

Thank you for your request of 3 March 2021, for access to European Central
Bank (ECB) documents containing data on TLTROs.

Please note that your request has entered a queuing system and will be
handled as soon as the response to your request of  15 September 2020 for
European Central Bank (ECB) documents on sustainable policy on own
reserves, has been finalised.

 

Yours sincerely,

 

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[1][email address]

 

Privacy notice: By submitting a request for access to documents, the ECB
collects information about you for the sole purpose of processing your
request in accordance with Decision ECB/2004/3 on public access to ECB
documents. All personal data are processed in accordance with EU Data
Protection Law (Regulation (EU) 2018/1725). The ECB is the controller for
the processing of the personal data. The recipients of the data will be
the ECB’s Compliance and Governance Office and, only when necessary, other
institutions within the European System of Central Banks, the Single
Supervisory Mechanism, or EU institutions.

You have the right to restrict processing and to access, rectify and under
certain conditions to request deletion of your stored personal data. You
can exercise your rights by contacting the ECB's Compliance and Governance
Office ([2][email address]) or the ECB’s Data Protection
Officer ([3][email address]).Furthermore, you have the right to address
the European Data Protection Supervisor ([4]www.edps.europa.eu) any time
regarding this processing of your personal data

 

 

 

________________________________________

From: Paul Schreiber

Sent: Wednesday, 03 March 2021 09:52:40 (UTC+01:00) Amsterdam, Berlin,
Bern, Rome, Stockholm, Vienna

To: [5][email address]

Subject: [EXT] access to documents request - Disclosure of data on TLTROs

 

Dear European Central Bank,

 

Today, individual banks disclose data on how much they have borrowed from
the TLTROs and at what rate on a voluntary basis. However, the ECB itself
do not publish this data and the ESMA recently underlined the insufficient
transparency of TLTRO operations.

 

This is highly problematic in the context of the Covid crisis as:

- The ECB heavily rely on TLTROs to provide an accommodative monetary
policy (1.59 trillion in 2020 only);

- The ECB provides banks with negative TLTRO rates (- 1%) if they reach a
pre-defined level of lending, thus giving several billion euros to the
European banking sector.

 

It is worth noting that the Bank of England disclose data regarding its
Term funding scheme on its website.

 

Therefore, under the right of access to documents in the EU treaties, as
developed in Regulation 1049/2001, I am requesting documents which contain
the following information:

- The list of banks that are borrowing under TLTROs, how much they are
borrowing and at what rate;

- The estimated profit from negative rate TLTROs for each bank that
benefit from this exceptional provision.

 

Yours faithfully,

 

Paul Schreiber

 

Reclaim Finance

 

-------------------------------------------------------------------

 

This is a request for access to information under Article 15 of the TFEU
and, where applicable, Regulation 1049/2001 which has been sent via the
AsktheEU.org website.

 

Please kindly use this email address for all replies to this request:
[6][FOI #9162 email]

 

If [7][ECB request email] is the wrong address for information
requests to European Central Bank, please tell the AsktheEU.org team on
email [8][email address]

 

This message and all replies from European Central Bank will be published
on the AsktheEU.org website. For more information see our dedicated page
for EU public officials at [9]https://www.asktheeu.org/en/help/officers

 

Please note that in some cases publication of requests and responses will
be delayed.

 

 

-------------------------------------------------------------------

Any e-mail message from the European Central Bank (ECB) is sent in good
faith, but shall neither be binding nor construed as constituting a
commitment by the ECB except where provided for in a written agreement.
This e-mail is intended only for the use of the recipient(s) named above.
Any unauthorised disclosure, use or dissemination, either in whole or in
part, is prohibited. If you have received this e-mail in error, please
notify the sender immediately via e-mail and delete this e-mail from your
system. The ECB processes personal data in line with Regulation (EU)
2018/1725. In case of queries, please contact the ECB Data Protection
Officer ([email address]). You may also contact the European Data
Protection Supervisor.

References

Visible links
1. mailto:[email address]
2. mailto:[email address]
3. mailto:[email address]).furthermore
4. http://www.edps.europa.eu/
5. mailto:[email address]
6. mailto:[FOI #9162 email]
7. mailto:[ECB request email]
8. mailto:[AsktheEU.org contact email]
9. https://www.asktheeu.org/en/help/officers

Access to documents,

Dear Mr Schreiber,

 

We confirm that on 6 April 2021, after finalising the reply to your
request of 15 September 2020 for European Central Bank (ECB) documents on
sustainable policy on own reserves, the ECB started processing your
request for ECB documents containing data on TLTROs.

In accordance with [1]Decision ECB/2004/3 on public access to ECB
documents, as last amended, you will receive a reply within 20 working
days.

Yours sincerely,

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[2][email address]

 

 

From: Access to documents
Sent: 03 March 2021 18:15
To: '[FOI #9162 email]'
<[FOI #9162 email]>
Subject: RE: [EXT] Acknowledgment of receipt (request on hold) - access to
documents request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

Thank you for your request of 3 March 2021, for access to European Central
Bank (ECB) documents containing data on TLTROs.

Please note that your request has entered a queuing system and will be
handled as soon as the response to your request of  15 September 2020 for
European Central Bank (ECB) documents on sustainable policy on own
reserves, has been finalised.

 

Yours sincerely,

 

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[3][email address]

 

Privacy notice: By submitting a request for access to documents, the ECB
collects information about you for the sole purpose of processing your
request in accordance with Decision ECB/2004/3 on public access to ECB
documents. All personal data are processed in accordance with EU Data
Protection Law (Regulation (EU) 2018/1725). The ECB is the controller for
the processing of the personal data. The recipients of the data will be
the ECB’s Compliance and Governance Office and, only when necessary, other
institutions within the European System of Central Banks, the Single
Supervisory Mechanism, or EU institutions.

You have the right to restrict processing and to access, rectify and under
certain conditions to request deletion of your stored personal data. You
can exercise your rights by contacting the ECB's Compliance and Governance
Office ([4][email address]) or the ECB’s Data Protection
Officer ([5][email address]).Furthermore, you have the right to address
the European Data Protection Supervisor ([6]www.edps.europa.eu) any time
regarding this processing of your personal data

 

 

 

________________________________________

From: Paul Schreiber

Sent: Wednesday, 03 March 2021 09:52:40 (UTC+01:00) Amsterdam, Berlin,
Bern, Rome, Stockholm, Vienna

To: [7][email address]

Subject: [EXT] access to documents request - Disclosure of data on TLTROs

 

Dear European Central Bank,

 

Today, individual banks disclose data on how much they have borrowed from
the TLTROs and at what rate on a voluntary basis. However, the ECB itself
do not publish this data and the ESMA recently underlined the insufficient
transparency of TLTRO operations.

 

This is highly problematic in the context of the Covid crisis as:

- The ECB heavily rely on TLTROs to provide an accommodative monetary
policy (1.59 trillion in 2020 only);

- The ECB provides banks with negative TLTRO rates (- 1%) if they reach a
pre-defined level of lending, thus giving several billion euros to the
European banking sector.

 

It is worth noting that the Bank of England disclose data regarding its
Term funding scheme on its website.

 

Therefore, under the right of access to documents in the EU treaties, as
developed in Regulation 1049/2001, I am requesting documents which contain
the following information:

- The list of banks that are borrowing under TLTROs, how much they are
borrowing and at what rate;

- The estimated profit from negative rate TLTROs for each bank that
benefit from this exceptional provision.

 

Yours faithfully,

 

Paul Schreiber

 

Reclaim Finance

 

-------------------------------------------------------------------

 

This is a request for access to information under Article 15 of the TFEU
and, where applicable, Regulation 1049/2001 which has been sent via the
AsktheEU.org website.

 

Please kindly use this email address for all replies to this request:
[8][FOI #9162 email]

 

If [9][ECB request email] is the wrong address for information
requests to European Central Bank, please tell the AsktheEU.org team on
email [10][email address]

 

This message and all replies from European Central Bank will be published
on the AsktheEU.org website. For more information see our dedicated page
for EU public officials at [11]https://www.asktheeu.org/en/help/officers

 

Please note that in some cases publication of requests and responses will
be delayed.

 

 

-------------------------------------------------------------------

Any e-mail message from the European Central Bank (ECB) is sent in good
faith, but shall neither be binding nor construed as constituting a
commitment by the ECB except where provided for in a written agreement.
This e-mail is intended only for the use of the recipient(s) named above.
Any unauthorised disclosure, use or dissemination, either in whole or in
part, is prohibited. If you have received this e-mail in error, please
notify the sender immediately via e-mail and delete this e-mail from your
system. The ECB processes personal data in line with Regulation (EU)
2018/1725. In case of queries, please contact the ECB Data Protection
Officer ([email address]). You may also contact the European Data
Protection Supervisor.

References

Visible links
1. http://www.ecb.europa.eu/ecb/legal/pdf/0...
2. mailto:[email address]
3. mailto:[email address]
4. mailto:[email address]
5. mailto:[email address]).furthermore
6. http://www.edps.europa.eu/
7. mailto:[email address]
8. mailto:[FOI #9162 email]
9. mailto:[ECB request email]
10. mailto:[AsktheEU.org contact email]
11. https://www.asktheeu.org/en/help/officers

Access to documents,

Dear Mr Schreiber,

 

We refer to our e-mail of 6 April, when you were informed that your
request for ECB documents containing data on TLTROs, started being
processed.

 

We regret to inform you that, owing to the increased workload created by a
high number of simultaneous requests the ECB has not yet been able to
conclude the internal assessment process and the detailed analysis of all
legal aspects related to the possible disclosure of the requested
documents.

In accordance with article 7.3 of [1]Decision ECB/2004/3, the ECB has
decided to extend the time-limit for responding to your application by 20
working days.

Please rest assured that we are looking into it and will reply within the
shortest possible delay.

Yours sincerely,

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[2][email address]

 

 

From: Access to documents
Sent: 06 April 2021 09:49
To: '[FOI #9162 email]'
<[FOI #9162 email]>
Subject: RE: [EXT] Request started being processed - access to documents
request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

We confirm that on 6 April 2021, after finalising the reply to your
request of 15 September 2020 for European Central Bank (ECB) documents on
sustainable policy on own reserves, the ECB started processing your
request for ECB documents containing data on TLTROs.

In accordance with [3]Decision ECB/2004/3 on public access to ECB
documents, as last amended, you will receive a reply within 20 working
days.

Yours sincerely,

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[4][email address]

 

 

From: Access to documents
Sent: 03 March 2021 18:15
To: '[FOI #9162 email]'
<[5][FOI #9162 email]>
Subject: RE: [EXT] Acknowledgment of receipt (request on hold) - access to
documents request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

Thank you for your request of 3 March 2021, for access to European Central
Bank (ECB) documents containing data on TLTROs.

Please note that your request has entered a queuing system and will be
handled as soon as the response to your request of  15 September 2020 for
European Central Bank (ECB) documents on sustainable policy on own
reserves, has been finalised.

 

Yours sincerely,

 

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[6][email address]

 

Privacy notice: By submitting a request for access to documents, the ECB
collects information about you for the sole purpose of processing your
request in accordance with Decision ECB/2004/3 on public access to ECB
documents. All personal data are processed in accordance with EU Data
Protection Law (Regulation (EU) 2018/1725). The ECB is the controller for
the processing of the personal data. The recipients of the data will be
the ECB’s Compliance and Governance Office and, only when necessary, other
institutions within the European System of Central Banks, the Single
Supervisory Mechanism, or EU institutions.

You have the right to restrict processing and to access, rectify and under
certain conditions to request deletion of your stored personal data. You
can exercise your rights by contacting the ECB's Compliance and Governance
Office ([7][email address]) or the ECB’s Data Protection
Officer ([8][email address]).Furthermore, you have the right to address
the European Data Protection Supervisor ([9]www.edps.europa.eu) any time
regarding this processing of your personal data

 

 

 

________________________________________

From: Paul Schreiber

Sent: Wednesday, 03 March 2021 09:52:40 (UTC+01:00) Amsterdam, Berlin,
Bern, Rome, Stockholm, Vienna

To: [10][email address]

Subject: [EXT] access to documents request - Disclosure of data on TLTROs

 

Dear European Central Bank,

 

Today, individual banks disclose data on how much they have borrowed from
the TLTROs and at what rate on a voluntary basis. However, the ECB itself
do not publish this data and the ESMA recently underlined the insufficient
transparency of TLTRO operations.

 

This is highly problematic in the context of the Covid crisis as:

- The ECB heavily rely on TLTROs to provide an accommodative monetary
policy (1.59 trillion in 2020 only);

- The ECB provides banks with negative TLTRO rates (- 1%) if they reach a
pre-defined level of lending, thus giving several billion euros to the
European banking sector.

 

It is worth noting that the Bank of England disclose data regarding its
Term funding scheme on its website.

 

Therefore, under the right of access to documents in the EU treaties, as
developed in Regulation 1049/2001, I am requesting documents which contain
the following information:

- The list of banks that are borrowing under TLTROs, how much they are
borrowing and at what rate;

- The estimated profit from negative rate TLTROs for each bank that
benefit from this exceptional provision.

 

Yours faithfully,

 

Paul Schreiber

 

Reclaim Finance

 

-------------------------------------------------------------------

 

This is a request for access to information under Article 15 of the TFEU
and, where applicable, Regulation 1049/2001 which has been sent via the
AsktheEU.org website.

 

Please kindly use this email address for all replies to this request:
[11][FOI #9162 email]

 

If [12][ECB request email] is the wrong address for information
requests to European Central Bank, please tell the AsktheEU.org team on
email [13][email address]

 

This message and all replies from European Central Bank will be published
on the AsktheEU.org website. For more information see our dedicated page
for EU public officials at [14]https://www.asktheeu.org/en/help/officers

 

Please note that in some cases publication of requests and responses will
be delayed.

 

 

-------------------------------------------------------------------

Any e-mail message from the European Central Bank (ECB) is sent in good
faith, but shall neither be binding nor construed as constituting a
commitment by the ECB except where provided for in a written agreement.
This e-mail is intended only for the use of the recipient(s) named above.
Any unauthorised disclosure, use or dissemination, either in whole or in
part, is prohibited. If you have received this e-mail in error, please
notify the sender immediately via e-mail and delete this e-mail from your
system. The ECB processes personal data in line with Regulation (EU)
2018/1725. In case of queries, please contact the ECB Data Protection
Officer ([email address]). You may also contact the European Data
Protection Supervisor.

References

Visible links
1. http://www.ecb.europa.eu/ecb/legal/pdf/0...
2. mailto:[email address]
3. http://www.ecb.europa.eu/ecb/legal/pdf/0...
4. mailto:[email address]
5. mailto:[FOI #9162 email]
6. mailto:[email address]
7. mailto:[email address]
8. mailto:[email address]).furthermore
9. http://www.edps.europa.eu/
10. mailto:[email address]
11. mailto:[FOI #9162 email]
12. mailto:[ECB request email]
13. mailto:[AsktheEU.org contact email]
14. https://www.asktheeu.org/en/help/officers

Access to documents,

1 Attachment

Dear Mr Schreiber,

Please find attached the ECB’s reply to your request for access to
European Central Bank (ECB) documents containing data on TLTROs.

Yours sincerely,

 

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[1][email address]

 

 

From: Access to documents
Sent: 30 April 2021 13:20
To: '[FOI #9162 email]'
<[FOI #9162 email]>
Subject: RE: [EXT] Extension of deadline for reply - access to documents
request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

We refer to our e-mail of 6 April, when you were informed that your
request for ECB documents containing data on TLTROs, started being
processed.

 

We regret to inform you that, owing to the increased workload created by a
high number of simultaneous requests the ECB has not yet been able to
conclude the internal assessment process and the detailed analysis of all
legal aspects related to the possible disclosure of the requested
documents.

In accordance with article 7.3 of [2]Decision ECB/2004/3, the ECB has
decided to extend the time-limit for responding to your application by 20
working days.

Please rest assured that we are looking into it and will reply within the
shortest possible delay.

Yours sincerely,

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[3][email address]

 

 

From: Access to documents
Sent: 06 April 2021 09:49
To: '[FOI #9162 email]'
<[4][FOI #9162 email]>
Subject: RE: [EXT] Request started being processed - access to documents
request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

We confirm that on 6 April 2021, after finalising the reply to your
request of 15 September 2020 for European Central Bank (ECB) documents on
sustainable policy on own reserves, the ECB started processing your
request for ECB documents containing data on TLTROs.

In accordance with [5]Decision ECB/2004/3 on public access to ECB
documents, as last amended, you will receive a reply within 20 working
days.

Yours sincerely,

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[6][email address]

 

 

From: Access to documents
Sent: 03 March 2021 18:15
To: '[FOI #9162 email]'
<[7][FOI #9162 email]>
Subject: RE: [EXT] Acknowledgment of receipt (request on hold) - access to
documents request - Disclosure of data on TLTROs

 

Dear Mr Schreiber,

 

Thank you for your request of 3 March 2021, for access to European Central
Bank (ECB) documents containing data on TLTROs.

Please note that your request has entered a queuing system and will be
handled as soon as the response to your request of  15 September 2020 for
European Central Bank (ECB) documents on sustainable policy on own
reserves, has been finalised.

 

Yours sincerely,

 

Compliance and Governance Office

DG Secretariat

European Central Bank

Sonnemannstrasse 20

60314 Frankfurt am Main

[8][email address]

 

Privacy notice: By submitting a request for access to documents, the ECB
collects information about you for the sole purpose of processing your
request in accordance with Decision ECB/2004/3 on public access to ECB
documents. All personal data are processed in accordance with EU Data
Protection Law (Regulation (EU) 2018/1725). The ECB is the controller for
the processing of the personal data. The recipients of the data will be
the ECB’s Compliance and Governance Office and, only when necessary, other
institutions within the European System of Central Banks, the Single
Supervisory Mechanism, or EU institutions.

You have the right to restrict processing and to access, rectify and under
certain conditions to request deletion of your stored personal data. You
can exercise your rights by contacting the ECB's Compliance and Governance
Office ([9][email address]) or the ECB’s Data Protection
Officer ([10][email address]).Furthermore, you have the right to address
the European Data Protection Supervisor ([11]www.edps.europa.eu) any time
regarding this processing of your personal data

 

 

 

________________________________________

From: Paul Schreiber

Sent: Wednesday, 03 March 2021 09:52:40 (UTC+01:00) Amsterdam, Berlin,
Bern, Rome, Stockholm, Vienna

To: [12][email address]

Subject: [EXT] access to documents request - Disclosure of data on TLTROs

 

Dear European Central Bank,

 

Today, individual banks disclose data on how much they have borrowed from
the TLTROs and at what rate on a voluntary basis. However, the ECB itself
do not publish this data and the ESMA recently underlined the insufficient
transparency of TLTRO operations.

 

This is highly problematic in the context of the Covid crisis as:

- The ECB heavily rely on TLTROs to provide an accommodative monetary
policy (1.59 trillion in 2020 only);

- The ECB provides banks with negative TLTRO rates (- 1%) if they reach a
pre-defined level of lending, thus giving several billion euros to the
European banking sector.

 

It is worth noting that the Bank of England disclose data regarding its
Term funding scheme on its website.

 

Therefore, under the right of access to documents in the EU treaties, as
developed in Regulation 1049/2001, I am requesting documents which contain
the following information:

- The list of banks that are borrowing under TLTROs, how much they are
borrowing and at what rate;

- The estimated profit from negative rate TLTROs for each bank that
benefit from this exceptional provision.

 

Yours faithfully,

 

Paul Schreiber

 

Reclaim Finance

 

-------------------------------------------------------------------

 

This is a request for access to information under Article 15 of the TFEU
and, where applicable, Regulation 1049/2001 which has been sent via the
AsktheEU.org website.

 

Please kindly use this email address for all replies to this request:
[13][FOI #9162 email]

 

If [14][ECB request email] is the wrong address for information
requests to European Central Bank, please tell the AsktheEU.org team on
email [15][email address]

 

This message and all replies from European Central Bank will be published
on the AsktheEU.org website. For more information see our dedicated page
for EU public officials at [16]https://www.asktheeu.org/en/help/officers

 

Please note that in some cases publication of requests and responses will
be delayed.

 

 

-------------------------------------------------------------------

Any e-mail message from the European Central Bank (ECB) is sent in good
faith, but shall neither be binding nor construed as constituting a
commitment by the ECB except where provided for in a written agreement.
This e-mail is intended only for the use of the recipient(s) named above.
Any unauthorised disclosure, use or dissemination, either in whole or in
part, is prohibited. If you have received this e-mail in error, please
notify the sender immediately via e-mail and delete this e-mail from your
system. The ECB processes personal data in line with Regulation (EU)
2018/1725. In case of queries, please contact the ECB Data Protection
Officer ([email address]). You may also contact the European Data
Protection Supervisor.

References

Visible links
1. mailto:[email address]
2. http://www.ecb.europa.eu/ecb/legal/pdf/0...
3. mailto:[email address]
4. mailto:[FOI #9162 email]
5. http://www.ecb.europa.eu/ecb/legal/pdf/0...
6. mailto:[email address]
7. mailto:[FOI #9162 email]
8. mailto:[email address]
9. mailto:[email address]
10. mailto:[email address]).furthermore
11. http://www.edps.europa.eu/
12. mailto:[email address]
13. mailto:[FOI #9162 email]
14. mailto:[ECB request email]
15. mailto:[AsktheEU.org contact email]
16. https://www.asktheeu.org/en/help/officers