AnaCredit
Active since: September 2018
Target: Every credit facilitating institution or subsidiary within the Eurozone and optionally other countries within the European Union
Goal: Provide the ESCB with detailed information of credit risk per commercial counterparty
Summary:
The European Central Bank needs more detailed credit data in order to determine its impact on the European monetary policy and the financial stability as well enabling them to create better and more specific banking regulations.
The improved data delivery will enable them to increase the quality of statistics on loans by size of the company, open credit lines by sector, loans by economic activity, loans backed by real estate, cross border loans as well as the income out of it for Euro using countries.
It is intended to limit the reporting effort for the financial institutions in the long run by making sure the set is as complete as possible, also usable for local central banks and implemented on a step by step basis in wich every step takes at least two years.It also gives the local central banks the mandate to limit the needed data for small institutions or foreign branches.
The first set of AnaCredit went life on September 30th 2018 and consisted of data about organizations with a total debt of 25.000 euro or higher at any reference date. What was new compared to many other regulatory reports is that the data is delivered on counterparty level and contract level. Each counterparty and contract should have its own unique identifier.
The following information is requested:
- counterparty information (excluded is any natural person information related to the credit risk)
- credit contract information
- on and off-balance exposure of the credit contract
- the link between counterparty and the credit contract on a role basis
- the liability per counterparty per credit contract
- the accounting data based on the applicable standard (IFRS� or GAAP)
- any protection received as security per protection contract
- the link between the protection contract and the instrument under the credit contract
- counterparty credit risk data as far as the counterparty is a debtor or a protection provider
- counterparty default data
All reporting parties need to have data quality standards in place to make sure that the above mentioned data is correct and complete every time.
The data is delivered on a monthly and quarterly basis by the national central bank.
Part of the AnaCredit regulation is also that national central banks are allowed to feed back data to the financial institutions while taking local legislation into account.This data can only be used by them to improve exiting and future credit risk models.
AnaCredit Reporting Manual (Part I General Methodology)
AnaCredit Reporting Manual (Part II Data sets & Data attributes)
AnaCredit Reporting Manual (Part III Case Studies)