The European Central Bank (ECB) Guideline 2021/1829 on the procedures for the collection of granular credit and credit risk data has been published in the Official Journal of European Union. The Guideline 2021/1829 amends Guideline 2017/2335 in terms of the guideline scope, transmission of statistical information, revisions for credit data and counterparty reference data, and reporting calendar. Guideline 2021/1829 shall take effect on the day of its notification to the national central banks of the member states whose currency is euro. To allow national central banks with sufficient lead time to effectively implement the amendments to the provisions on revisions for credit data and counterparty reference data and to ensure sufficient data quality, the amendments shall apply on April 01, 2022.
The revisions to Guideline 2017/2335 highlight that the guideline establishes reporting 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 guideline establishes:
- Specific obligations related to the collection and transmission of credit data and counterparty reference data
- Procedures and standards for transmission of those data to ECB
- Derogations and reduced reporting frequency for the collection of credit and counterparty reference data by national central banks
- 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)
- Data quality management requirements for national central banks
Guideline 2017/2335 notes that errors in reported statistical information be revised and corrected and the revised data be transmitted to ECB. To improve overall data quality, the revised guideline provides further details on the types and frequencies of revisions to be transmitted to ECB. The amendments to Guideline 2017/2335 also incorporate clarifications about the reference dates to which the first ECB feedback loop data will refer after a national central bank decides to participate in the AnaCredit feedback loop framework. The revised guideline describes that national central banks shall transmit the statistical information electronically, using the means specified by ECB. The statistical message format developed for this electronic exchange of statistical information shall be the format agreed by the European System of Central Banks. By the end of September each year, ECB shall communicate the exact transmission dates for the following year to the national central banks in the form of a reporting calendar. National central banks shall report the statistical information in accordance with that reporting calendar. Annexes III and IV of the Guideline 2017/2335 have also been amended. Annex III provides data attributes for the purposes of feedback loops and Annex IV lists the participating national central banks in the AnaCredit feedback loop framework, along with their respective participation start dates.
Keywords: Europe, EU, Banking, AnaCredit, Reporting, Statistical Data, Credit Risk, Guideline 2021/1829, ECB
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