NBB published a communication on amendments to the existing national guidelines on the use of counterparty identification codes in the EBA reporting framework. Considering the recent clarifications on the use of counterparty identification codes in various tables in the new version of the EBA implementing technical standards on supervisory reporting, NBB wishes to amend these national guidelines to complement the European guidelines. This communication will apply from the reporting reference date of June 30, 2021.
In addition to the new requirements on identification codes, NBB is requesting the concerned institutions to apply the following “cascade system”:
- Institutions are asked to always provide a Legal Entity Identifier, or LEI, code to identify their counterparties in the reporting (insofar as a LEI code is available for these counterparties)
- If there is no LEI code available for a counterparty, a national code should be used. For Belgian counterparties, this should be the Crossroads Bank for Enterprises (CBE) number
- Only if there is no LEI or national code (the CBE number for Belgian counterparties) available for a counterparty, an internal code will be requested. In that case, institutions will be asked to use the existing "Gggg(g)(g) code" (as provided for in Communication NBB_2014_05 on the use of counterparty identification codes).
In a separate circular, NBB specified that it is integrating the EBA guidelines on tri-party repurchase agreements (EBA/GL/2021/01) into its supervisory practice. The EBA guidelines specify conditions for the application of alternative treatment of exposures related to tri-party repurchase agreements for large exposure purposes, as set out in the Capital Requirements Regulation (CRR). These guidelines will apply from June 28, 2021.
- Communication on Identification Codes (PDF in English)
- Circular on Application of EBA Guidelines (in French)
Keywords: Europe, Belgium, Banking, Reporting, LEI, Large Exposures, Basel, CRR, Credit Risk, Repo, Triparty Repo, EB
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