2. NCBs may grant derogations to insurance corporations in respect of the reporting of holdings of currency and deposits at nominal value.
If data collected at a higher level of aggregation shows that holdings of currency and deposits by resident insurance corporations amount to less than 10 % of the national combined total of insurance corporation balance sheets and less than 10 % of total euro area insurance corporation holdings of currency and deposits in terms of stocks, the relevant NCB may decide not to require the reporting of holdings of currency and deposits at nominal value. The relevant NCB shall inform the reporting agents of such a decision.