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    ECB Guideline on Recording of Data by Competent Authorities in RIAD

    March 31, 2020

    ECB published guideline (ECB/2020/16) on the recording of certain data by national competent authorities in the Register of Institutions and Affiliates Data (RIAD). The guideline establishes the obligations of national competent authorities with respect to the recording, maintenance, and quality management of reference data in RIAD for the purposes of supervisory tasks. The guideline also establishes the responsibilities of national competent authorities to liaise with the national central banks of their participating member states for recording reference data and entities in RIAD. The guideline shall take effect on the day of its notification to the national competent authorities. The national competent authorities shall comply with the guideline from March 31, 2020.

    ECB maintains the RIAD, which is the shared dataset of reference data on legal and other statistical institutional units. It supports business processes across the Eurosystem, the performance of the tasks of the European System of Central Banks (ESCB), and the specific tasks related to prudential supervision that have been conferred on ECB. The ECB Guideline (ECB/2018/16) establishes the obligations of national central banks with respect to the reporting of reference data to, and the maintenance and data quality management of, RIAD, for the purpose of ESCB tasks, and sets out the governance framework. The aim of the guideline (ECB/2020/16) is to establish the responsibilities of each national competent authority to record, update and validate reference data reported to ECB for the purpose of supervisory tasks.

    Pursuant to Article 3(2) of the EU Guideline 2018/876 (ECB/2018/16), each national central bank must establish a local RIAD hub, which acts as the unique point of contact for reference data matters relating to RIAD in the member state and coordinates activity, inter alia, with national competent authorities at national level to ensure the accuracy, timeliness, and consistency of reference data and to ensure the consistent use of identifiers for entities. This guideline (ECB/2020/16) accordingly establishes the responsibilities of each national competent authority to liaise with the national central bank in its participating member state.


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    Keywords: Europe, EU, Banking, RIAS, Reporting, Data, Governance, Statistics, ECB 2018/16, ESCB, ECB

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