BCL updated the list of reporting agents under the AnaCredit Regulation. Also published is an AnaCredit newsletter, which contains news and frequently asked questions (FAQs) on the AnaCredit data collection, including a reminder about the next AnaCredit reporting dates. The newsletter also informs that ECB and national central banks are developing and implementing comparisons between AnaCredit and reports from other statistical datasets. These include reports on balance sheet items (BSI/S1.1 and S2.5), interest rates (MIR/S1.5), and prudential reports (COREP/FINREP). These new controls are planned for 2020. Once the technical specifications have been finalized, BCL will update the relevant documentation on its website.
The AnaCredit newsletter highlights that BCL expects to receive AnaCredit reporting on time, despite the disruption caused by the COVID-19 pandemic. ECB has not changed the reporting schedule, as it is essential to have reliable statistical information, especially in times of crises. In the event of major difficulties in producing AnaCredit reports, the reporting agents are requested to contact BCL before the submission deadlines of the reports. Furthermore, following discussions with the IT suppliers of reporting solutions on February 29, 2020, it was agreed that the transmission channels will take care of XML Schema Definition (XSD) validation of AnaCredit reports. Thus, submissions that are not valid from an XSD point of view will not be transmitted to BCL. The reporting agent will immediately be informed that it is not in compliance with the requirements of BCL. The transmission channels will gradually implement this blocking of files with XSD errors during 2020.
With respect to the effect of Brexit on AnaCredit reporting, BCL states that rules CS0021 and CS0140 no longer apply to counterparties resident in the United Kingdom. Thus, legal forms starting with EU can no longer be used. Conversely, legal forms starting with RW are accepted for the United Kingdom for all reports since February 2020. This adaptation will be implemented in the BCL software as soon as possible. In the meantime, if a reporting agent receives BCL feedback with one of the above errors without justification, it should be ignored.
Keywords: Europe, Luxembourg, Banking, AnaCredit, COVID-19, Reporting, Brexit, Newsletter, COREP, FINREP, Statistics, BCL
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Previous ArticleAPRA Updates Lists of Validation and Derivation Rules for Reporting
Next ArticleBoE Publishes Version 2.0.0 of Capital+ XBRL Utility
The European Commission (EC) published the Delegated Regulation 2022/786 with regard to the liquidity coverage requirements for credit institutions under the Capital Requirements Regulation (CRR).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying the criteria to identify shadow banking entities for the purposes of reporting large exposures.
The Office of the Superintendent of Financial Institutions (OSFI) published the strategic plan for 2022-2025 and the departmental plan for 2022-23.
The European Banking Authority (EBA) is consulting, until August 31, 2022, on the draft implementing technical standards specifying requirements for the information that sellers of non-performing loans (NPLs) shall provide to prospective buyers.
The European Council and the Parliament reached an agreement on the revised Directive on security of network and information systems (NIS2 Directive).
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying information that crowdfunding service providers shall provide to investors on the calculation of credit scores and prices of crowdfunding offers.
The European Council published a draft Commission Delegated Regulation to amend the regulatory technical standards on specification of the calculation of specific and general credit risk adjustments.
The European Securities and Markets Authority (ESMA) published a paper that examines the systemic risk posed by increasing use of cloud services, along with the potential policy options to mitigate this risk.
The Monetary Authority of Singapore (MAS) published amendments to Notice 635, which sets out requirements that a bank in Singapore has to comply with when granting an unsecured non-card credit facility to individuals.
The European Commission (EC) published a public consultation on the review of revised payment services directive (PSD2) and open finance.