Guideline (EU) 2020/381. of the European Central Bank of 21 February 2020 amending Guideline (EU) 2017/2335 on the procedures for the collection of granular credit and credit risk data (ECB/2020/11)

This Guideline provides details on the NCBs’ obligations to transmit credit data and counterparty reference data collected pursuant to Regulation (EU) 2016/867 (ECB/2016/13) to the ECB, including the NCBs’ responsibilities for registering counterparties in RIAD, and on the procedures for the transmission of such data. This Guideline also establishes a framework for NCBs to participate, on a voluntary basis, in arrangements for the transmission and sharing of certain subsets of credit data and the related counterparty reference data, for the purpose of establishing or enhancing feedback loops with reporting agents (hereinafter also referred to as the “AnaCredit feedback loop framework”).’;

1 NCBs may participate in the AnaCredit feedback loop framework on a voluntary basis. The NCBs listed in Annex IV shall become participating NCBs for the purposes of this Guideline from the date specified in that Annex.

2 An NCB which is not listed in Annex IV may request to participate in the AnaCredit feedback loop framework by submitting prior written notice to the Governing Council specifying the date from which it proposes to become a participating NCB. The NCB shall be included in the list in Annex IV by means of a technical amendment to that Annex and, where necessary, to Annex III in accordance with Article 20. For the purposes of this paragraph, a technical amendment consists of the inclusion in Annex IV of the name of the NCB and the date from which it shall become a participating NCB and, where necessary, a specification of those data attributes in the ECB feedback loop dataset in Annex III in respect of which that NCB does not consent to sharing the related data for the purpose of providing feedback loops to reporting agents in accordance with Article 16c.

3 A participating NCB may request a change in its specification of data attributes as referred to in the second subparagraph of paragraph 2. The change shall take effect following a technical amendment to Annex III in accordance with Article 20.

4 A participating NCB may request the termination of its participation in the AnaCredit feedback loop framework by submitting prior written notice of no less than ninety days to the Governing Council. The termination shall take effect following a technical amendment to Annex IV, and where necessary, Annex III in accordance with Article 20. Any termination of participation shall not prejudice the continuation and survival of any of the rights and obligations of each of the other NCBs existing at or prior to the date that such termination takes effect.

Under the AnaCredit feedback loop framework, participating NCBs shall be required to: (a) consent to receiving NCBs sharing with their resident reporting agents for feedback loop purposes, at least, the minimum dataset; and (b) implement arrangements to include at least the credit data and counterparty reference data corresponding to the data attributes in the minimum dataset concerning any instrument related to a debtor or prospective debtor in the feedback loop which is provided to resident reporting agents. NCBs which do not comply with these requirements shall not participate in the AnaCredit feedback loop framework.

1 A participating NCB may, at its discretion, decide not to consent to receiving NCBs including any variable attribute in the data shared with their resident reporting agents, for the purposes of a feedback loop. The decisions by participating NCBs are indicated in Annex III. A receiving NCB may not include such variable attributes in the data shared with its resident reporting agents, for the purposes of a feedback loop.

2 If a participating NCB decides not to consent to receiving NCBs including one or more variable attributes in the data shared with their resident reporting agents for the purposes of a feedback loop, the participating NCB shall not provide the equivalent set of data collected by other participating NCBs to its own reporting agents.

3 Subject to paragraphs 1 and 2, a receiving NCB may, at its discretion, decide to include or exclude any variable attribute in the data shared with its resident reporting agents.

4 If an NCB is responsible under Article 6 of this Guideline for reporting to the ECB credit data and counterparty reference data concerning an RMS foreign branch, the data corresponding to the variable attributes relating to that RMS foreign branch may be provided, for the purposes of a feedback loop, to a resident reporting agent by the participating NCB in the Member State in which the RMS foreign branch is resident or by the participating NCB in the Member State of the head office undertaking of the RMS foreign branch.

1 From 1 April 2020, the ECB shall transmit the ECB feedback loop dataset to each NCB listed in Annex IV prior to the date, as specified in that Annex, on which it becomes a participating NCB. The NCB shall not have the right to use the data received from the ECB for the purposes of a feedback loop in accordance with Article 16e until it becomes a participating NCB on the date specified in Annex IV. The NCB shall only use the data received from the ECB for the purposes of testing the arrangements referred to in Article 16b(b) prior to the implementation of such arrangements on the date on which it becomes a participating NCB and in accordance with Article 16e(9).

2 The ECB shall transmit an ECB feedback loop dataset to each receiving NCB via regular transmissions, immediately after the generation of the golden copy.

3 Each ECB feedback loop dataset transmitted via a regular transmission shall only relate to instruments where at least one debtor is a legal entity or is part of a legal entity which meets one of the following conditions: (a) the debtor is resident in the Member State of the receiving NCB and the credit data relating to it are reported to the ECB by at least one other participating NCB; (b) the debtor is not resident in the Member State of the receiving NCB and the credit data relating to it are reported to the ECB both by the receiving NCB and at least one other participating NCB; (c) the debtor is a party to an instrument granted by or with an RMS foreign branch where that RMS foreign branch or the head office undertaking of that RMS foreign branch is resident in the Member State of the receiving NCB and the credit data and counterparty reference data relating to it are reported to the ECB by another NCB responsible under Article 6 for the reporting of the credit data and counterparty reference data of that RMS foreign branch to the ECB.

4 The ECB shall transmit to the receiving NCBs any revisions received relating to information previously included in regular transmissions in accordance with the revision policy referred to in point 4 of Annex V to Regulation (EU) 2016/867 (ECB/2016/13).

5 A participating NCB may send to the ECB an ad-hoc request relating to a prospective debtor who has applied for an instrument to a reporting agent, or to any of their observed agents, resident in the Member State of the requesting participating NCB.

6 The ECB shall transmit the ECB feedback loop dataset relating to the relevant prospective debtor to the requesting participating NCB in response to an ad-hoc request, provided that the ad-hoc request relates to a prospective debtor whose data are reported to the ECB.

7 The ECB shall respond to an ad-hoc request by the end of the working day following the one in which the ad-hoc request was received.

8 The ECB shall ensure that the information transmitted under this Article is identical to that transmitted by the NCBs to the ECB and that the information transmitted to each receiving NCB shall refer only to the instruments relating to debtors or prospective debtors specified in paragraphs 3 or 5.

1 A receiving NCB has the right to use the data received from the ECB in accordance with Article 16d for the purposes of a feedback loop in accordance with the provisions of this Article.

2 A feedback loop as referred to in paragraph 1 may be established by a receiving NCB with resident reporting agents, including small reporting agents that are granted a derogation in accordance with Article 16(1) of Regulation (EU) 2016/867 (ECB/2016/13) and reporting agents that report data on a reduced reporting frequency in accordance with Article 16(2) of Regulation (EU) 2016/867 (ECB/2016/13).

3 The data used in feedback loops shall include, at least, the minimum dataset. The data used in feedback loops may in addition include the data corresponding to the variable attributes, provided that the receiving NCBs shall exclude data collected by other participating NCBs, where such other participating NCBs have not consented to sharing such data in accordance with Article 16c.

4 A receiving NCB may not provide to a reporting agent credit data or counterparty reference data which are outside the scope of the ECB feedback loop dataset it has received. The receiving NCBs shall not share the operational attributes with their resident reporting agents.

5 A participating NCB may identify certain information at instrument level as not usable for feedback loop purposes, for a limited period of time, because of restrictions in national legislation or the quality of the information. The data transmitted by the ECB to the receiving NCBs shall include such identification. A receiving NCB shall not include the identified information in the feedback loops to its resident reporting agents.

6 Data collected by NCBs that are not participating in the AnaCredit feedback loop framework may not be used by participating NCBs for the purposes of establishing or maintaining a feedback loop, except in accordance with Article 11(5) of Regulation (EU) 2016/867 (ECB/2016/13), where it is deemed that access for such purposes is not denied by a non-participating NCB pursuant to Article 6(5) or where the data is on an institutional unit of a reporting agent established in a reporting Member State, which may always be used for feedback loops by the relevant NCB of the reporting agent, irrespective of where the institutional unit is resident.

7 A receiving NCB may share with its resident reporting agents the data received from the ECB in accordance with this Article; it may provide data with the same level of granularity contained in the data transmission from the ECB or at a more aggregated level.

8 When providing feedback loops to reporting agents, the receiving NCBs shall ensure that observed agents, reporting agents, creditors, servicers and originators the information on which has been transmitted by the ECB to the receiving NCBs cannot be identified.

9 Receiving NCBs shall treat information received from the ECB in accordance with the national legal framework on data confidentiality and Articles 8 to 8c of Regulation (EC) No 2533/98.

10 A receiving NCB shall inform its resident reporting population that, in accordance with Article 11 of Regulation (EU) 2016/867 (ECB/2016/13): (a) reporting agents must use the subset of the credit data and counterparty reference data received via feedback loops and collected by other participating NCBs exclusively for managing credit risk and improving the quality of credit information available to them with regard to existing or prospective instruments; (b) it is forbidden for reporting agents to share the subset of data referred to in point (a) with other parties or commercial providers, except where data sharing with service providers is permitted in accordance with Article 11 of Regulation (EU) 2016/867 (ECB/2016/13); (c) without prejudice to an NCB’s discretion to give access to specific credit data to a reporting agent via a feedback loop, such access may be denied on a temporary basis when the reporting agent has not complied with its own statistical reporting obligations under Regulation (EU) 2016/867 (ECB/2016/13), in particular with regard to data quality and accuracy, or when the reporting agent has not complied with its obligations under points (a) or (b). In such cases the receiving NCB must inform the reporting agent that its access to the feedback loop is suspended; and (d) reporting agents must protect the confidentiality of the subset of data referred to in point (a) in line with best practices and in accordance with the applicable national and Union law.

1 A receiving NCB is solely responsible for the establishment of a feedback loop or other information services from its CCR to reporting agents, including the procedure for providing data access to reporting agents and enforcing compliance by reporting agents with the requirements of Article 16e.

2 Where legal entities or parts of legal entities about which credit data have been reported are entitled to access such data or require the rectification and/or deletion of such data, including where such data are provided to reporting agents for the purposes of a feedback loop or other information service from the relevant CCR, the relevant NCB must implement procedures to (a) provide access to the data, (b) require that incorrect data are to be rectified by reporting agents and (c) communicate to the reporting agents with whom the information has been shared.

3 In the case of claims relating to information included in feedback loops and derived from the data transmission made by another NCB, the NCB receiving the claims shall liaise with the NCB which has transmitted the data to the ECB and cooperate in investigating the correctness of the information and in preparing the response to the debtor’s claim.’;

1 This Guideline shall take effect on the day of its notification to the NCBs of the Member States whose currency is the euro.

2 The Eurosystem central banks shall comply with this Guideline from 1 April 2020.

This Guideline is addressed to all Eurosystem central banks.