GLEIF published the monthly Global Legal Entity Identifier (LEI) data quality report for October 2019. The report analyzes the overall data quality in the Global LEI System. This edition of the report shows that fewer LEI Issuers achieved maturity level 1 (Required Quality) for their complete managed data. Compared to the same reporting period in 2018, the absolute number of data quality check failures reduced from 41,000 to less than 11,000. The overall performance improved, in particular, with regard to the quality criteria "accuracy" and "completeness."
The Data Quality criteria is expected to contain 12 dimensions. At present, a subset of 11 criteria is implemented, to the detriment of the score, as they are averaged on all of them. This is expected to change, on a non-fixed timeline, to include all 12 dimensions. The report covers the following factors:
- The LEI Total Data Quality Score for the reporting period.
- Progress achieved with regard to the continuous optimization of the data quality within the Global LEI System, based on the LEI Total Data Quality Score.
- The Total Data Quality Score per country achieved in the reporting period.
- Results of GLEIF checks of the LEI data records against implemented quality criteria—that is, the percentage of records that successfully passed the tests.
- The percentage of LEI data records, which meet the requirements of distinct quality maturity levels.
- Information on "Level 2" data, duplicates and challenges for the reporting period.
- The section "Top 5 Failing Checks" identifying data quality checks performed by GLEIF that trigger the highest number of LEI records that fail these checks. In the report, the type of data quality check is indicated with a number.
Keywords: International, Banking, Insurance, Securities, LEI, GLEIS, Data Quality, Reporting, GLEIF
Scott is a Director in the Regulatory and Accounting Solutions team responsible for providing accounting expertise across solutions, products, and services offered by Moody’s Analytics in the US. He has over 15 years of experience leading auditing, consulting and accounting policy initiatives for financial institutions.
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