The project Analytical Credit Datasets (AnaCredit) from the European Central Bank (ECB) calls for the harmonized collection of granular data. As a result of the project, data gaps in the area of credit exposures are to be closed and both monetary as well as micro- and macro-prudential issues will be addressed. Transmission of extensive granular credit and credit risk data to the ECB for statistical purposes began in 2018.
As part of AnaCredit, roughly 100 data attributes must be reported. Initial analyses have shown that not all of the required data fields are readily derivable from the current regulatory reporting data household. The procurement of the required data presents financial institutions with special challenges. Firstly, the information required is often distributed across different departments and IT systems of the bank and must be integrated into a consistent delivery of data provided by the regulatory reporting software solution. It should be noted that some of the required data fields are in fact available, but, suffer from insufficient data maintenance and quality. Other requested data fields are not currently available in the data household of the institution and would have to be newly obtained.
The reporting requirements associated with the AnaCredit project will be associated with relatively high implementation costs for financial institutions. The reasons lie mainly in the procurement of granular financial data and the need for the consistent delivery of data to the regulatory reporting software.
BearingPoint provides with Abacus360 Banking Regulatory a software solution for the implementation of the new reporting requirements. In addition, our specialists, with their many years of know-how in regulatory reporting, can support you with the your specific issues within the context of your individual implementation projects.