Featured Product

    Bundesbank Issues Circular on Changes to AnaCredit Reporting

    April 15, 2020

    Bundesbank published Circular No. 29/2020 to announce amended requirements under the AnaCredit Regulation for banks. This information has been published in the Federal Gazette of January 17, 2020, with communication No. 8001/2020. The circular sets out that certain reporting agents that submit AnaCredit reports to the Deutsche Bundesbank can apply for an extension of the submission deadline for the domestic part or for the branch located in Germany. The Circular is relevant for all banks, to the data centers of savings banks and credit unions, and to the banking associations and reporting software manufacturers.

    Additionally, as of the reporting month August 2020, two further national identifiers have been introduced, which can also be reported as an additional identifier. These identifiers are the VAT identification number (VAT ID) and the Tax number. VAT ID is is usually available on the website of the respective contractual partner while tax number is intended as a fallback solution for German contractual partners that do not have a registered VAT ID. These identifiers will be "mandatory" as of the reporting date August 31, 2021.

    Finally, in response to the ESRB recommendation of March 21, 2019, the specifications for the AnaCredit data field Purpose have been changed. The changed requirements must be taken into account from the reporting date of December 31, 2020 at the latest. The changed requirements are intended to ensure that the original purpose of a loan (for example, commercial property acquisition), reported in significantly more cases than before, is replaced by the purpose of "debt financing." "In future, the purpose of 'debt financing' will only be for financing outstanding or to use maturing liabilities for the purpose of consolidation." If creditors and debtors agree to replace an existing contract with a new one for commercial reasons, the purpose of the old contract must be adopted. In addition, the original purpose of the financing must be maintained in the following cases, no longer to be replaced by the expression "debt financing":

    • Change of conditions of an instrument; for example, in the course of deferral measures
    • Extension of a single expiring loan agreement
    • Change of creditor

     

    Related Link: Circular 29/2020 (PDF in German)

     

    Keywords: Europe, Germany, Banking, AnaCredit, Statistics, Reporting, National Identifiers, Bundesbank

    Featured Experts
    Related Articles
    News

    NGFS Updates Address Short-Term Climate Scenarios and Transition Plans

    The Network for Greening the Financial System (NGFS) is exploring the development of short-term climate scenarios to complement its existing scenario framework of long-term climate scenarios.

    May 31, 2023 WebPage Regulatory News
    News

    ISSB Updates Address ESG Issues while IASB Consults on Impairments

    The International Sustainability Standards Board (ISSB) is seeking feedback, until August 09, 2023, on the exposure draft that sets out the methodology proposed by ISSB to amend the Sustainability Accounting Standards Board (SASB) Standards' metrics

    May 30, 2023 WebPage Regulatory News
    News

    ESRB Publishes Report on Cryptos and DeFi; ECB Updates on Digital Euro

    The European Systemic Risk Board (ESRB) published a report that outlines the systemic implications of crypto markets and proposes policy options to address the risks stemming from crypto-assets and decentralized finance or DeFi.

    May 26, 2023 WebPage Regulatory News
    News

    EU Agencies Issue Updates on DORA, ESAP, and Crowdfunding Regulation

    The European Supervisory Authorities (ESAs) published a discussion paper on their joint advice to the European Commission (EC) on proposals to specify criteria for critical information and communication technology (ICT) third-party service providers

    May 26, 2023 WebPage Regulatory News
    News

    UK Authorities Issue Updates, Finalize Policy on Model Risk Management

    The Prudential Regulation Authority (PRA) finalized the model risk management principles for banks, the policy statement PS5/23 on risks from contingent leverage, and PS4/23 on moving senior managers regime forms from the PRA Rulebook.

    May 25, 2023 WebPage Regulatory News
    News

    APRA Revises Implementation Timeline for Operational Risk Standard

    The Australian Prudential Regulation Authority (APRA) updated the implementation date of the new cross-industry prudential standard CPS 230 on operational risk management

    May 25, 2023 WebPage Regulatory News
    News

    BCBS Consults on Basel FAQs and Amendments, Issues Other Updates

    The Basel Committee on Banking Supervision (BCBS) published a report assessing implementation of the global Basel standards on net stable funding ratio (NSFR) and large exposures (LEX) in South Africa

    May 25, 2023 WebPage Regulatory News
    News

    EBA Announces Multiple Regulatory and Reporting Updates in April 2023

    The European Banking Authority (EBA) published consultations on the amendments to the guidelines on risk-based anti-money laundering and countering the financing of terrorism (AML/CFT) supervision

    May 24, 2023 WebPage Regulatory News
    News

    FSB Issues Statement on USD LIBOR Transition, Issues Other Updates

    The Financial Stability Board (FSB) released a report that offers insights into how financial institutions incorporate climate-related metrics into their compensation frameworks

    May 23, 2023 WebPage Regulatory News
    News

    ACPR Issues Updates on Reporting by Banks and on DLT Pilot Scheme

    The French Prudential Supervisory Authority (ACPR) published reporting updates for the banking sector

    May 22, 2023 WebPage Regulatory News
    RESULTS 1 - 10 OF 8896