The financial crisis has shown that aggregate loan statistics are not adequate to understand the underlying developments that give rise to the credit risk of the financial system. This led to the need for aggregating and analyzing credit exposures on a harmonized loan-by-loan basis.
The AnaCredit project aims at setting up a dataset containing detailed information on individual bank loans across the EU member states based on harmonized definitions. The project is aimed at providing good statistics to aid the ECB in monitoring and understanding developments in the euro area during economic shocks. It can also support the ECB and the national central banks (NCBs) in decision making and the new macroprudential supervision tasks.
To build the AnaCredit datasets, Central Credit Registers operated by the NCBsJ will need to obtain access to the credit databases of loan-providing institutions. These institutions will have to develop a granular credit database to collect and provide 94 loan attributes across all credit exposure types in a standardized reporting framework. Institutions may be forced to make significant investments in their regulatory reporting architecture and spend considerable time on accounting for missing data. However, along with BCBS 239, AnaCredit provides institutions with the opportunity to rethink their data management and infrastructure. While the regular reporting of granular data starts in September 2018, the preparatory measures must already be met by the end of 2016.
Author: Rob Voster, senior manager