AnaCredit stands for Analytical Credit Datasets. It is a project initiated by the European Central Bank (ECB) in 2011 with the first reporting deadline (data submission) starting in September 2018.
Regulation (EU) 2016/867 on the collection of granular credit and credit risk data (ECB/2016/13) sets out the reporting requirements and defines the reporting population.
Along with the Regulation the ECB has also published a lot of additional information to further assist reporting institutions to comply with their reporting obligations:
- AnaCredit Reporting Manual Part I - General Methodology
- AnaCredit Reporting Manual Part II - Datasets and data attributes
- AnaCredit Reporting Manual Part III - Case Studies
- Annexes
- List of legal forms
- List of national identifiers
- List of international organizations
- Examples of complete reports
- Questions and Answers
- AnaCredit Validation Checks
The AnaCredit requlation defines a total of ten (10) interrelated datasets containing all the reportable fields. In broad terms these reportable datasets contain data related to one of:
- Instrument (Account / Facility)
- Counterparty
- Protection (Collateral).
Each of the ten datasets consists of one of more identifier(s) and one of more data fields. An Identifier is what is used to uniquely define the reporting element (the collection of all identifiers within a dataset is the primary key of the data set). The actual data fields (attributes) contains the credit / credit risk data that is required to be reported.
National Central Banks (NCBs) are to collect the datasets from supervised institutions and after performing a first level of validation and data quality they are to transmit the datasets to the ECB. NCBs are allowed to determine their own reporting formal and are also allowed some flexibility on a pre-defined number of data fields that they can decide if they are to be mandatory, optional or not-required to be reported by their reporting institutions. NCBs are also allowed to extend the data fields by adding new fields that they deem necessary for their national purposes / requirements.
The AnaCredit Reporting Module of FRCS complies fully with the AnaCredit requirements and reporting obligations.
Data is sourced from the provided inputs of the Finanicial Institution to be processed by the reporting module. During processing data will be normalised and will be transformed to the required data structures (datasets) as required by the AnaCredit regulation (as this may have been implemented at the FIs reporting jurisdiction).
With the data populated in the AnaCredit datasets all required data mappings (translations) will also happen to ensure that data codification corresponds to the local AnaCredit implementation.
Next the required outputs will be generated. Two sets of outputs will be generated at this point in time. On the one hand a tabular output will be generated for each dataset enabling the FI to review and enquire the data before final submission. On the other hand the actual outputs as per the NCBs technical specifications will also be generated for regulatory submission.
Most importantly however, the module will perform and prepare an extensive set of Data Validations to ensure the completeness, correctness and quality of the data (outputs) before providing the data to the Regulator. These data validations include all the AnaCredit Validations published and required by the ECB and also contain a large number of additional validations unique to our solution.