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
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