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Modalities for the definition of statistical reporting requirements In defining and imposing its statistical reporting requirements, the ECB shall specify the actual reporting population within the limits of the reference reporting population as defined in Article 2. Without prejudice to the fulfilment of its statistical reporting requirements, the ECB:

(a) shall use existing statistics as far as possible;

(b) shall take into account the relevant European and international statistical standards;

(c) may fully or partly exempt specific classes of reporting agents from its statistical reporting requirements. Before adopting a regulation as referred to in Article 5 concerning new statistics, the ECB shall assess the merits and costs of the collection of the new statistical information in question. It shall in particular take into account the specific collection characteristics, the size of the reporting population and the periodicity, and the statistical information already held by the statistical authorities or administrations.