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Consolidated text: Decision of the European Central Bank of 24 February 2014 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (ECB/2014/6) (2014/192/EU)

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ELI: http://data.europa.eu/eli/dec/2014/192/2016-06-01

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02014D0006(01) — EN — 01.06.2016 — 001.002

This text is meant purely as a documentation tool and has no legal effect. The Union's institutions do not assume any liability for its contents. The authentic versions of the relevant acts, including their preambles, are those published in the Official Journal of the European Union and available in EUR-Lex. Those official texts are directly accessible through the links embedded in this document

►B	DECISION OF THE EUROPEAN CENTRAL BANK of 24 February 2014 on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (ECB/2014/6) (2014/192/EU) (OJ L 104 8.4.2014, p. 72)

Amended by:

		Official Journal
		No	page	date
►M1	DECISION (EU) 2016/868 OF THE EUROPEAN CENTRAL BANK of 18 May 2016	L 144	99	1.6.2016

▼B

DECISION OF THE EUROPEAN CENTRAL BANK

of 24 February 2014

on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks

(ECB/2014/6)

(2014/192/EU)

Article 1

Scope and objectives

This Decision defines preparatory measures which are necessary to establish in a stepwise manner a long-term framework for the collection of granular credit data based on harmonised ECB statistical reporting requirements. ►M1 This long-term framework shall, by the start of the first actual transmission of granular credit data from NCBs to the ECB in accordance with Regulation (EU) 2016/867 of the European Central Bank (ECB/2016/13) ( 1 ), include: (a) national granular credit databases operated by all Eurosystem NCBs, and (b) a common granular credit database shared between the Eurosystem members and comprising granular credit data for all Member States whose currency is the euro. ◄

Article 2

Definitions

For the purposes of this Decision:

(1)

‘central credit register’ (CCR) means a credit register operated by an NCB of the ESCB;

(2)

‘credit register’ means a register that collects granular credit data from reporting institutions;

(3)

‘granular credit data’ means information about credit exposures of credit institutions or other loan-providing financial institutions vis-à-vis borrowers, provided on a borrower-by-borrower or a loan-by-loan basis.

Article 3

Organisation of preparatory measures

Preparatory measures to be undertaken in order to achieve the objectives set out in Article 1 shall include:

(a)

identifying relevant user needs and estimating related costs generated by proposals for the collection, quality assurance and data sharing procedures to be applied in the long term;

(b)

defining and improving the granular credit data sets to be collected under the long-term framework, in particular regarding the scope, the bounds of layers or strata in the borrower population and the other possible breakdowns, the level of detail of the data attributes and the quality of granular data collected;

(c)

organising the transmission of granular credit data in the preparatory phase in accordance with Article 4 and setting the quality standards which granular credit data obtained from CCRs or other credit registers need to comply with prior to the commencement of such transmission;

(d)

developing detailed operational arrangements specifying transmission, compilation, storage and use of the granular credit data that are to be tested and fine-tuned in the preparatory phase with a view to their subsequent incorporation in the long-term framework;

(e)

establishing a timetable for specific steps and deliverables to be completed by the individual NCBs and the ECB, including steps to be taken by the NCBs not presently having access to comprehensive granular credit databases, with a view to obtaining such access through development of an own CCR or by other means;

(f)

monitoring the progress achieved in respect of the measures listed in points (a) to (e), and identifying relevant adjustments if needed.

▼M1

The STC shall, taking into account advice from other relevant ESCB committees as appropriate, prepare the decisions necessary for implementing the preparatory measures set out in paragraph 1 and submit them for adoption to the Governing Council. The STC shall report to the Governing Council on an annual basis on the progress achieved by the ECB and the individual NCBs, including NCBs with a derogation pursuant to Article 3(3).

With regard to NCBs which require a longer phase-in period during the preparatory phase for developing or obtaining access to comprehensive granular credit databases, the Governing Council may, during the preparatory phase grant individual temporary derogations from the obligation to apply specific preparatory measures defined under paragraph 1. The period of each individual derogation shall be strictly limited to the minimum time necessary for the NCB concerned to achieve during the preparatory phase compliance with the preparatory measures covered by this derogation, and shall in any event be set in a manner that allows the objectives laid down in Article 1 to be achieved in relation to all Eurosystem NCBs. Any rights of access to confidential statistical information derived from granular credit data transmitted to the ECB as part of a specific preparatory measure shall be suspended in relation to any NCBs benefitting from a temporary derogation in relation to this measure. The Governing Council may decide that appropriate further restrictions are to be imposed on individual NCBs benefitting from any derogation under this paragraph.

▼B

Article 4

Transmission of granular credit data in the preparatory phase and confidentiality safeguards

▼M1

To ensure proper alignment of the granular credit data to be collected in the long term with the statistical needs of prospective ESCB users, the STC shall, during the preparatory phase, organise the annual transmission, at the end of March every year, from the NCBs to the ECB of readily available granular credit data related to 30 June and 31 December of the previous year, using an adequate level of anonymisation and aggregation concerning the information about the borrowers so as to ensure that individual borrowers cannot be identified. The first transmission shall occur at the end of March 2014, with reference to 30 June and 31 December 2013, and shall be based on the reference reporting scheme set out in the Annex. Any further ad hoc transmissions shall be organised by the STC on a voluntary basis and on the basis of the reporting scheme which will take account of the existence of readily available granular credit data and their characteristics, and ensure that the data collected are proportionate to the status of the preparatory work completed at the time of transmission. Data on borrowers belonging to institutional sectors other than non-financial corporations may be reported during the preparatory phase on an aggregated basis, provided that the NCB delivers relevant methodological information.

▼B

Individual NCBs shall transmit the requested granular credit data on the basis of the CCRs or other available granular credit databases. The NCBs benefitting, pursuant to Article 3(3), from a derogation from preparatory measures under Article 3(1)(c) with respect to specific data transmissions shall include information about their progress in achieving full compliance with the data transmissions requested during the preparatory phase in their reporting to the STC.

Data provided to the ECB pursuant to the first paragraph shall be transmitted in electronic form via secured remote access and stored in a secure area. Access to such data shall be limited to statistical experts included on the list communicated by the STC to the Governing Council prior to initiation of the transmission. The ECB shall include information on the security measures taken in the annual confidentiality report.

Article 5

Use of statistical information derived from granular credit data in the preparatory phase

Data provided to the ECB pursuant to Article 4 shall be used to: (a) define and improve the granular credit data to be collected under the long-term framework and the respective data attributes, and (b) define and produce aggregated statistical information to meet the statistical needs of the ESCB users during the preparatory phase.

In addition to the access and use of aggregated statistical information, users within the ESCB not benefitting from a derogation under Article 3(3) may request permission to access and use disaggregated confidential statistical information derived from granular credit data transmitted pursuant to Article 4, provided that such access to confidential statistical information: (a) serves the objective of defining and improving the granular credit data to be collected under the long-term framework and the respective data attributes, and (b) does not involve direct access to original granular credit data collected by the NCBs or the ECB. Each user request shall be accompanied by a list of individual persons who will have access to the information concerned.

The user requests made under paragraph 2 shall be subject to assessment and approval by the Governing Council in accordance with the procedure adopted by the ECB. The STC shall assist the Governing Council in the evaluation of such requests.

Article 6

Simplified amendment procedure

Taking account of the views of the STC, the Executive Board of the ECB shall be entitled to make technical amendments to the Annex to this Decision, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden. The Executive Board shall inform the Governing Council of any such amendment without undue delay.

Article 7

Final provisions

This Decision shall take effect on the day of its notification.

By 31 December 2014 the Governing Council shall receive a report analysing: (a) the status of the preparatory measures established by this Decision, and (b) the feasibility of replacing this Decision with an ECB legal instrument setting out harmonised ECB statistical reporting requirements and ensuring the establishment of a common granular credit database shared between the Eurosystem members and comprising granular credit data for all Member States whose currency is the euro, including an assessment of the feasibility of the timeline for the adoption of these measures as laid down in Article 1, in view of the progress achieved.

Article 8

Addressees

This Decision is addressed to the NCBs of Member States whose currency is the euro.

ANNEX

REFERENCE REPORTING SCHEME

Granular credit data reported on a solo basis as set out in the table below, and including the following information:

—

‘lender attributes’, describing the credit institution or other financial institution which granted the loan;

—

‘borrower attributes’, describing the non-financial corporation or any other borrower who took out the loan;

—

‘credit data variables’, describing the loan agreement and the status of the loan in a qualitative manner;

—

‘credit data measures’, providing numerical values which can be further aggregated (quantitative indicators) and reported as end-of-period figures.

▼M1

Type	Attributes	Overview	Level of anonymisation
Lender attributes	Lender identifier	Identification of lenders in accordance with the codification used by the ESCB Register of Institutions and Affiliates Database (RIAD) (1).	Non-anonymised
Borrower attributes	Borrower identifier	Alphanumeric identification of borrowers, to ensure that individual borrowers cannot be identified	Anonymised
	Country of residence	Country of residence of the borrower, in accordance with the ISO 3166 standard (2).
	Institutional sector	Institutional sector (or subsector) of the borrower, in accordance with the ESA 2010 classification. The following (sub)sectors are required: — Non-financial corporations (S.11) — The central Bank (S.121) — Deposit-taking corporations except the central bank (S.122) — Money market funds (S.123) — Non-MMF investment funds (S.124) — Other financial intermediaries, except insurance corporations and pension funds (S.125) — Financial auxiliaries (S.126) — Captive financial institutions and money lenders (S.127) — Insurance corporations (S.128) — Pension funds (S.129) — General government (S.13) — Households and non-profit institutions serving households (S.14 + S.15)
	Sector of economic activity	Classification of (financial and non-financial) borrowers according to their economic activities, in accordance with the NACE rev.2 statistical classification (3). NACE codes shall be reported with a two level detail (by ‘division’).
	Size	Classification of borrowers according to their size: micro, small, medium-sized and large.
Credit data variables	Loan identifier	Alphanumeric identification of loans, as used by the reporting institutions at national level.	—
	Currency	Currency denomination of loan, in accordance with the ISO 4217 standard (2).
	Type of loan	Classification of loans according to their type: — On demand (call) and short notice (current account) — Credit card debt — Trade receivables — Finance leases — Reverse repurchase loans — Other term loans
	Collateral type	Type of collateral backing the loan granted; real estate collateral, other collateral (including securities and gold), no collateral.
	Original maturity	Maturity of the loan agreed at the inception or at a date of later renegotiation; less than or equal to 1 year, more than 1 year.
	Residual maturity	Maturity referring to the agreed time of redemption of the loan; less than or equal to 1 year, more than 1 year.
	Non-performing status	Loans where the borrower is in default.
	Syndicated loan	Single loan agreement in which several institutions participate as lenders.
	Subordinated debt	Subordinated debt instruments provide a subsidiary claim on the issuing institution that can only be exercised after all claims with a higher status (e.g. deposits/loans) have been satisfied, giving them some of the characteristics of ‘shares and other equity’.
Credit data measures	Credit drawn	Total outstanding amount of a loan (principal amount, without deducting write-downs), reported gross of credit risk adjustments, except credit losses recorded as write-offs.	—
	Credit lines	Amount of credit granted but not drawn.
	Arrears	Any payment (amount) on a loan which is overdue by more than 90 days.
	Collateral value	Value of collateral at the time of reporting.
	Specific credit risk adjustment	Specific loan loss provision for credit risks in accordance with the applicable accounting framework. Such measure must be reported only for non-performing loans.
	Risk-weighted assets	Risk-weighted exposure amounts in accordance with Directive 2006/48/EC of the European Parliament and of the Council (4) or successive acts.
	Probability of default (only for credit institutions applying an internal ratings-based approach)	Probability of default of a counterparty over a 1-year period, in accordance with Directive 2006/48/EC or successive acts. For borrower-by-borrower reporting, a volume weighted average is reported.
	Loss given default (only for credit institutions applying an internal rating based approach)	Ratio of the loss on an exposure due to the default of a counterparty to the amount outstanding at default, in accordance with Directive 2006/48/EC or successive acts. For borrower-by-borrower reporting, a volume weighted average is reported.
	Interest rate	The ratio, as a percentage per annum, of the amount that a debtor has to pay to the creditor over a given period of time to the amount of the principal of the loan, deposit or debt security, in accordance with Regulation (EC) No 63/2002 of the European Central Bank (5) or successive acts. For borrower-by-borrower reporting, a volume weighted average is reported.
(1) For monetary financial institutions (MFIs), see the list published on the ECB's website at www.ecb.europa.eu (2) As published by the International Organisation for Standardisation (ISO) on its website at www.iso.org (3) As published by the European Commission (Eurostat) on its website at www.ec.europa.eu/eurostat (4) Directive 2006/48/EC of the European Parliament and of the Council of 14 June 2006 relating to the taking up and pursuit of the business of credit institutions (OJ L 177, 30.6.2006, p. 1). (5) Regulation (EC) No 63/2002 of the European Central Bank of 20 December 2001 concerning statistics on interest rates applied by monetary financial institutions to deposits and loans vis-à-vis households and non-financial corporations (ECB/2001/18) (OJ L 10, 12.1.2002, p. 24).

►M1 ( 1 ) Regulation (EU) 2016/867 of the European Central Bank of 18 May 2016 on the collection of granular credit and credit risk data (ECB/2016/13) (OJ L 144, 1.6.2016, p. 44). ◄

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