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.
Keywords: Europe, EU, Banking, AnaCredit, Feedback Loop Framework, Reporting, Guideline 2020/381, Guideline 2017/2335, RIAD, Credit Risk, ECB
Previous ArticleDNB Publishes Banking and Insurance Newsletters for March 2020
The European Banking Authority (EBA) published the final draft regulatory technical standards specifying and, where relevant, calibrating the minimum performance-related triggers for simple.
The European Central Bank (ECB) is undertaking the integrated reporting framework (IReF) project to integrate statistical requirements for banks into a standardized reporting framework that would be applicable across the euro area and adopted by authorities in other EU member states.
The European Banking Authority (EBA) has been awarded the top European Standard for its environmental performance under the European Eco-Management and Audit Scheme (EMAS).
The Monetary Authority of Singapore (MAS) set out the Financial Services Industry Transformation Map 2025 and, in collaboration with the SGX Group, launched ESGenome.
The Basel Committee on Banking Supervision met, shortly after a gathering of the Group of Central Bank Governors and Heads of Supervision (GHOS), the oversight body of BCBS.
The International Organization of Securities Commissions (IOSCO) welcomed the work of the international audit and assurance standard setters—the International Auditing and Assurance Standards Board (IAASB)
The Bank of England (BoE) published a Statistical Notice (2022/18), which informs that due to the Bank Holiday granted for Her Majesty Queen Elizabeth II’s State Funeral on Monday September 19, 2022.
The French Prudential Control and Resolution Authority (ACPR) announced that the European Banking Authority (EBA) has updated its filing rules and the implementation dates for certain modules of the EBA reporting framework 3.2.
The European Central Bank (ECB) published a paper that examines how credit rating agencies accepted by the Eurosystem, as part of the Eurosystem Credit Assessment Framework (ECAF)
The Australian Prudential Regulation Authority (APRA) announced reduction in the aggregate Committed Liquidity Facility (CLF) for authorized deposit-taking entities to ~USD 33 billion on September 01, 2022.