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    Bank of Finland Updates Requirements and Description under AnaCredit

    June 28, 2019

    Bank of Finland published the Version 2.7 of AnaCredit reporting requirements, along with the updated description on electronic reporting for credit data collection and Version 1.9 of schema documents. Version 2.7 of AnaCredit requirements include updated code lists.

    The document on AnaCredit requirements describes requirements of the Bank of Finland for the data to be collected, in accordance with the AnaCredit Regulation of ECB. In the updated reporting guide "Description of electronic reporting," the requirements are presented the way the Bank of Finland collects them. The first reporting of credit data to Bank of Finland was scheduled on September 30, 2018. The next deadline for for reporting requirements of credit data collection is August 21, 2019 for monthly data and August 12, 2019 for quarterly data. Bank of Finland receives the reported data via the Data Collection Service 2 (DCS2) operated by Posti Messaging Oy.

    In Finland, entities subject to the obligation to report under the credit data collection are domestic credit institutions and Finnish branches of foreign credit institutions the Bank of Finland has individually informed about their reporting obligation. The Bank of Finland will inform credit institutions about the commencement of the reporting obligation or cessation of reporting reliefs at least 18 months before the start of reporting. The Bank of Finland assesses the credit institutions' reporting obligations annually, on the basis of total outstanding amount of loans under Regulation (EU) No 1071/2013 concerning the balance sheet of the monetary financial institutions sector (ECB/2013/33, as amended by Regulation ECB/2014/51). 

     

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    Keywords: Europe, Finland, Banking, AnaCredit, Reporting, Credit Data Collection, Credit Risk, Schema, Bank of Finland

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