With reporting from a number of Central Banks going steady, AnaCredit is experiencing some teething issues, namely with regard to the correct identification of counterparties. Validation checks are, however, gradually improving the quality of the submissions and reducing errors.  Central Banks that availed of the transitional period, including Bundesbank and Banque de France, started their data submission by end-March. For these Central Banks, the same iterative cycle of ‘trial and error’ will apply.

Internal data dissemination of information to Central Banks will only take place subject to achieving appropriate data quality.

There are also ongoing discussions with regard to the establishment of feedback loops, a subject that is the competence of national central banks. From a preliminary analysis, it seems that only 10 of the 85 attributes of information for each loan reported in the AnaCredit framework are not controversial for sharing back with reporting agents. The information that could be shared would deal with cross-border credit exposure of borrowers.

The ECB’s AnaCredit Guideline could be updated on feedback loops sometime later this year, with date of entry into application being 2020.  The latest slide presentation can be viewed here:  AnaCredit developments in 2019

Courtesy of ACCIS