Featured Product

    Bundesbank Issues Circular on Changes to AnaCredit Reporting

    April 15, 2020

    Bundesbank published Circular No. 29/2020 to announce amended requirements under the AnaCredit Regulation for banks. This information has been published in the Federal Gazette of January 17, 2020, with communication No. 8001/2020. The circular sets out that certain reporting agents that submit AnaCredit reports to the Deutsche Bundesbank can apply for an extension of the submission deadline for the domestic part or for the branch located in Germany. The Circular is relevant for all banks, to the data centers of savings banks and credit unions, and to the banking associations and reporting software manufacturers.

    Additionally, as of the reporting month August 2020, two further national identifiers have been introduced, which can also be reported as an additional identifier. These identifiers are the VAT identification number (VAT ID) and the Tax number. VAT ID is is usually available on the website of the respective contractual partner while tax number is intended as a fallback solution for German contractual partners that do not have a registered VAT ID. These identifiers will be "mandatory" as of the reporting date August 31, 2021.

    Finally, in response to the ESRB recommendation of March 21, 2019, the specifications for the AnaCredit data field Purpose have been changed. The changed requirements must be taken into account from the reporting date of December 31, 2020 at the latest. The changed requirements are intended to ensure that the original purpose of a loan (for example, commercial property acquisition), reported in significantly more cases than before, is replaced by the purpose of "debt financing." "In future, the purpose of 'debt financing' will only be for financing outstanding or to use maturing liabilities for the purpose of consolidation." If creditors and debtors agree to replace an existing contract with a new one for commercial reasons, the purpose of the old contract must be adopted. In addition, the original purpose of the financing must be maintained in the following cases, no longer to be replaced by the expression "debt financing":

    • Change of conditions of an instrument; for example, in the course of deferral measures
    • Extension of a single expiring loan agreement
    • Change of creditor

     

    Related Link: Circular 29/2020 (PDF in German)

     

    Keywords: Europe, Germany, Banking, AnaCredit, Statistics, Reporting, National Identifiers, Bundesbank

    Featured Experts
    Related Articles
    News

    HKMA Enhances Loan Guarantee Scheme to Alleviate Pressure on SMEs

    HKMA announced that enhancements will be made to the Special 100% Loan Guarantee of the SME Financing Guarantee Scheme (SFGS) and the application period will be extended to December 31, 2021.

    February 24, 2021 WebPage Regulatory News
    News

    BoE Sets Out Plan to Transform Data Collection from Financial Sector

    BoE has set out a three-phased plan to transform data collection from the UK financial sector over the next decade.

    February 23, 2021 WebPage Regulatory News
    News

    BIS Issues Updates on Technology Initiatives on Cross-Border Payments

    BIS recently made a couple of announcements with respect to the planned and ongoing work in the area of financial technology.

    February 23, 2021 WebPage Regulatory News
    News

    ESRB Updates List of Macro-Prudential Measures in February 2021

    ESRB updated the list of national macro-prudential measures applied by each member state in the European Economic Area.

    February 22, 2021 WebPage Regulatory News
    News

    BoE Survey Shows Positive COVID Impact on Outsourced Banking Services

    BoE has set out results of a survey on the impact of COVID-19 events on the use of machine learning and data science.

    February 22, 2021 WebPage Regulatory News
    News

    ECB Issues Opinion on Proposal to Regulate Crypto-Asset Markets in EU

    In response to a request from the European Council and Parliament, ECB published an opinion on the proposed regulation on markets in crypto-assets.

    February 22, 2021 WebPage Regulatory News
    News

    APRA Announces Aggregate Committed Liquidity Facility for Banks

    APRA announced the updated aggregate amounts for the 2021 Committed Liquidity Facility (CLF) established between the Reserve Bank of Australia (RBA) and certain locally incorporated authorized deposit-taking institutions that are subject to the Liquidity Coverage Ratio (LCR).

    February 19, 2021 WebPage Regulatory News
    News

    ECB and UK Authorities Agree on Post-Brexit Supervisory Cooperation

    ECB published supervisory Memorandums of Understanding (MoUs) with UK as well as other European and non-European authorities.

    February 19, 2021 WebPage Regulatory News
    News

    EIOPA Outlines Strategic Supervisory Priorities for Insurance Sector

    EIOPA identified business model sustainability and adequate product design as the two EU-wide strategic supervisory priorities.

    February 19, 2021 WebPage Regulatory News
    News

    US Agencies to Revise FFIEC 031, FFIEC 041, and FFIEC 051 Reports

    After considering comments received on the November 2020 proposal, US Agencies (FDIC, FED and OCC) are proceeding with the proposed revisions to the reporting forms and instructions for Call Reports FFIEC 031, FFIEC 041, and FFIEC 051.

    February 19, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6618