# Regulation (EC) No 1745/2003 of the European Central Bank of 12 September 2003 on the application of minimum reserves (ECB/2003/9), Article 11: Reserve holding on a consolidated basis

Extent: E+W+S+N.I.

Institutions allowed to report statistical data regarding their consolidated reserve base as a group (as defined within the ECB’s reporting framework for money and banking statistics in Regulation (EU) No 1071/2013 (ECB/2013/33) shall hold minimum reserves through one of the institutions in the group which is acting as intermediary exclusively for these institutions and in accordance with the provisions in Article 10. On receiving authorisation from the ECB to carry out statistical reporting regarding the consolidated reserve base for the institutions in the group, the institution acting as the intermediary for the group shall automatically be exempted from the provisions in Article 10(6) and only the group as a whole shall be entitled to receive the allowance referred to in Article 5(2).

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Source: https://www.legislation.gov.uk/eur/2003/1745/article/11 (the official version)
Page: https://openlegislation.uk/eu-regulation-2003-1745/article-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.