12 It is even more important to reach a common understanding on the regular flow of data from the reporting agents in the EU financial system, via national and European databases, to the ESRB.
In this context, I also welcome the fact that the ECB and CEIOPS 13 are working on an optimised usage of the future data reporting by the insurance sector under the Solvency II Directive 14 . Clearly, there is a difference between the use of confidential micro-data for statistical purposes and their use for policy purposes.