ECB Issues Guideline on Procedures for Collection of AnaCredit Data
ECB published a guideline (ECB/2017/38) on the procedures for collection of granular credit and credit risk data, pursuant to the AnaCredit Regulation (EU Regulation 2016/867). This guideline shall take effect on the day of its notification to the national central banks (NCBs) of the member states whose currency is the euro.
The guideline provides details on the obligations of NCBs to transmit (to ECB) the collected credit data and counterparty reference data, along with details on the procedures for the transmission of such data. The guideline also covers responsibilities of NCBs for registering counterparties in Register of Institutions and Affiliates Database (RIAD). The guideline provides that NCBs shall compile and report to the ECB credit data and counterparty reference data in accordance with the schemes laid down in Annexes I to IV to the EU Regulation 2016/867, subject to the NCBs’ rights to grant derogations, or to allow a reduced reporting frequency in accordance with Article 16 of that Regulation.
The AnaCredit Regulation provides that reporting agents resident in a reporting member state must report credit data and counterparty reference data to the NCB of that member state. NCBs of the reporting member states are required to transmit these data to ECB and, therefore, it is necessary to define the procedures for such transmissions in accordance with the requirements under EU Regulation 2016/867. It is also necessary to establish a procedure for making technical amendments to the annexes to this guideline in an effective manner, provided they neither change the underlying conceptual framework nor affect the reporting burden.
Related Links
Keywords: Europe, EU, Banking, AnaCredit, RIAD, ECB/2017/38, Reporting, ECB
Featured Experts
David Fihrer
Skilled life insurance actuary; subject matter expert on IFRS 17 and source of earnings
Salman Siddiqui
ESG and climate expert for P&C insurance; IFRS 17 specialist and chartered accountant; extensive experience in both life and non-life insurance, with focus on capital management, financial performance, and financial reporting.
Previous Article
EBA Publishes Opinion on Transition from PSD1 to PSD2Related Articles
BIS and Central Banks Experiment with GenAI to Assess Climate Risks
A recent report from the Bank for International Settlements (BIS) Innovation Hub details Project Gaia, a collaboration between the BIS Innovation Hub Eurosystem Center and certain central banks in Europe
Nearly 25% G-SIBs Commit to Adopting TNFD Nature-Related Disclosures
Nature-related risks are increasing in severity and frequency, affecting businesses, capital providers, financial systems, and economies.
Singapore to Mandate Climate Disclosures from FY2025
Singapore recently took a significant step toward turning climate ambition into action, with the introduction of mandatory climate-related disclosures for listed and large non-listed companies
SEC Finalizes Climate-Related Disclosures Rule
The U.S. Securities and Exchange Commission (SEC) has finalized the long-awaited rule that mandates climate-related disclosures for domestic and foreign publicly listed companies in the U.S.
EBA Proposes Standards Related to Standardized Credit Risk Approach
The European Banking Authority (EBA) has been taking significant steps toward implementing the Basel III framework and strengthening the regulatory framework for credit institutions in the EU
US Regulators Release Stress Test Scenarios for Banks
The U.S. regulators recently released baseline and severely adverse scenarios, along with other details, for stress testing the banks in 2024. The relevant U.S. banking regulators are the Federal Reserve Bank (FED), the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC).
Asian Governments Aim for Interoperability in AI Governance Frameworks
The regulatory landscape for artificial intelligence (AI), including the generative kind, is evolving rapidly, with governments and regulators aiming to address the challenges and opportunities presented by this transformative technology.
EBA Proposes Operational Risk Standards Under Final Basel III Package
The European Union (EU) has been working on the final elements of Basel III standards, with endorsement of the Banking Package and the publication of the European Banking Authority (EBA) roadmap on Basel III implementation in December 2023.
EFRAG Proposes XBRL Taxonomy and Standard for Listed SMEs Under ESRS
The European Financial Reporting Advisory Group (EFRAG), which plays a crucial role in shaping corporate reporting standards in European Union (EU), is seeking comments, until May 21, 2024, on the Exposure Draft ESRS for listed SMEs.
ECB to Expand Climate Change Work in 2024-2025
Banking regulators worldwide are increasingly focusing on addressing, monitoring, and supervising the institutions' exposure to climate and environmental risks.
