May 29, 2018

GLEIF updated the list of current and proposed regulatory activities, including the use of the Legal Entity Identifier (LEI). The updates concern certain approved regulatory policies of RBI and the People's Bank of China (PBC).

RBI requires corporate borrowers with aggregate fund-based and non-fund based exposure of INR 50 million and above to obtain an LEI and capture it in the Central Repository of Information on Large Credits (CRILC). PBC stipulates that institutional pledgers or pledgees of the registration system of pledges receivables should provide identifiers such as business registration number, uniform social credit code, and LEI.

It is the prerogative of the authorities acting in individual jurisdictions to mandate the use of LEIs. In many jurisdictions around the globe, public authorities rely on the LEI to evaluate risk, take corrective steps and, if required, minimize market abuse and improve the accuracy of financial data. It is the prerogative of the authorities acting in individual jurisdictions to mandate the use of LEIs. GLEIF closely monitors initiatives relevant to legal entity identification in regulatory reporting and supervision and updates this list regularly. 

 

Related Link: Regulatory Use of LEI

Keywords: International, Asia Pacific, India, China, Banking, Securities, Regulation and Supervision, Pledged Receivables, CRILC, LEI, GLEIF

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