Featured Product

    ECB Amends Guideline on Procedures for AnaCredit Data Collection

    March 06, 2020

    The Guideline 2020/381 of ECB has been published in the Official Journal of European Union and it amends Guideline 2017/2335 on the procedures for the collection of granular credit and credit risk data (ECB/2020/11). Guideline 2020/381 shall take effect on the day of its notification to the national central banks of the member states whose currency is euro. The Eurosystem central banks shall comply with Guideline (EU) 2020/381 from April 01, 2020.

    The Guideline 2020/381 provides details on the obligations of national central banks to transmit credit data and counterparty reference data collected pursuant to the AnaCredit Regulation (EU 2016/867) to ECB. The details also include the responsibilities national central banks for registering counterparties in Register of Institutions and Affiliates Data or RIAD and on the procedures for the transmission of such data. The published Guideline establishes a framework for national central banks to participate, on a voluntary basis, in arrangements for the transmission and sharing of certain subsets of credit data and the related counterparty reference data, for the purpose of establishing or enhancing feedback loops with reporting agents (AnaCredit feedback loop framework).

    The purpose of the feedback loops is to support reporting agents in assessing the creditworthiness of debtors and to improve their credit risk management. The feedback loops enable reporting agents to obtain a more complete overview of the indebtedness of a debtor or prospective debtor as the information available is collected not only by the relevant national central bank but also by other national central banks. Within the current legal framework, national central banks may, on a voluntary basis, exchange and use subsets of credit data for providing reporting agents access to them via feedback loops. The European System of Central Banks has committed to updating the legal framework to further harmonize the feedback loops provided to reporting agents by national central banks. It is, therefore, necessary to establish an appropriate framework for this activity. The key amendments to Guideline 2017/2335 involve the replacement of Article 1, addition of certain points to Article 2, replacement of Paragraph (5) in Article 6, and insertion of Chapter Va on AnaCredit feedback loop framework.

    Under the AnaCredit feedback loop framework, participating national central banks shall be required to:

    • consent to receiving national central banks sharing with their resident reporting agents for feedback loop purposes, at least, the minimum dataset; and
    • implement arrangements to include at least the credit data and counterparty reference data corresponding to the data attributes in the minimum dataset concerning any instrument related to a debtor or prospective debtor in the feedback loop, which is provided to resident reporting agents

    National central banks that do not comply with these requirements shall not participate in the AnaCredit feedback loop framework.


    Related Links

    Keywords: Europe, EU, Banking, AnaCredit, Feedback Loop Framework, Reporting, Guideline 2020/381, Guideline 2017/2335, RIAD, Credit Risk, ECB

    Featured Experts
    Related Articles
    News

    UK Government to Set Out Rules on Wind-down of Critical Benchmarks

    HM Treasury notified that, after considering all responses, the government intends to bring forward further legislation, when the Parliamentary time allows, to address issues identified in the consultation on supporting the wind-down of critical benchmarks.

    May 07, 2021 WebPage Regulatory News
    News

    EIOPA Launches Stress Test for Insurance Sector in EU

    EIOPA launched the 2021 stress test for the insurance sector in EU.

    May 07, 2021 WebPage Regulatory News
    News

    UK Authorities Publish Third Edition of Regulatory Initiatives Grid

    UK authorities jointly published the third edition of Regulatory Initiatives Grid setting out the planned regulatory initiatives for the next 24 months.

    May 07, 2021 WebPage Regulatory News
    News

    EC Consults on Regulation on Non-Financial Sustainability Disclosures

    EC is requesting feedback on the proposed Commission Delegated Regulation on the content, methodology, and presentation of information that large financial and non-financial undertakings should disclose about their environmentally sustainable economic activities under the Taxonomy Regulation.

    May 07, 2021 WebPage Regulatory News
    News

    OSFI Outlines Prudential Policy Priorities for Coming Months

    OSFI has set out the near-term priorities for federally regulated financial institutions and federally regulated private pension plans for the coming months until March 31, 2022.

    May 06, 2021 WebPage Regulatory News
    News

    BIS Announces TechSprint on Innovative Green Finance Solutions

    Under the Italian G20 Presidency, BIS Innovation Hub and the Italian central bank BDI launched the second edition of the G20 TechSprint on the lookout for innovative solutions to resolve operational problems in green and sustainable finance.

    May 06, 2021 WebPage Regulatory News
    News

    ACPR Publishes Version 1.0.0 of RUBA Taxonomy

    ACPR published Version 1.0.0 of the RUBA taxonomy, which will come into force from the decree of January 31, 2022.

    May 06, 2021 WebPage Regulatory News
    News

    EBA Proposed Regulatory Standards for Central Database on AML/CFT

    EBA proposed the regulatory technical standards on a central database on anti-money laundering and countering the financing of terrorism (AML/CFT) in EU.

    May 06, 2021 WebPage Regulatory News
    News

    ECB Responds to EC Consultation on Crisis Management Framework

    ECB published its response to the targeted EC consultation on the review of the bank crisis management and deposit insurance framework in EU.

    May 06, 2021 WebPage Regulatory News
    News

    BCBS, CPMI, and IOSCO to Survey Market Participants on Margin Calls

    BCBS, CPMI, and IOSCO (the Committees) are inviting entities that participate in market infrastructures and securities markets through an intermediary as well as non-bank intermediaries to complete voluntary surveys on the use of margin calls.

    May 05, 2021 WebPage Regulatory News
    RESULTS 1 - 10 OF 6942