ECB has finalized the Decision 2019/1348 (ECB/2019/20) that establishes procedure for recognizing non-euro area member states as reporting member states under the AnaCredit Regulation (EU 2016/867). The decision, which has been officially published, shall enter into force on the twentieth day following that of its publication in the Official Journal of the European Union.
Non-euro area member states that decide to become a reporting member state under the AnaCredit Regulation should notify their intention to do so to ECB. ECB should verify that they have incorporated the provisions of AnaCredit Regulation into their national law or that they have imposed relevant reporting requirements in accordance with their national law and without prejudice to the constitutional order of the member state concerned. A non-euro area member state wishing to become a reporting member state may submit to ECB an official expression of interest to become a reporting member state, using the template provided in Annex I to the Decision (EU) 2019/1348. Decision (EU) 2019/1348 provides details related to the following:
- Criteria to qualify as a reporting member state
- Expression of interest
- Verification procedure
- First transmission of credit data
- Suspension or termination of recognition of a non-euro area member state as a reporting member state
Related Link: Decision (EU) 2019/1348
Effective Date: September 05, 2019
Keywords: Europe, EU, Banking, AnaCredit, Decision 2019/1348, Reporting, Credit Risk, ECB
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