​Credit database (LuoTi) project

On 24 February 2014, the ECB issued a decision on the organisation of preparatory measures for the collection of granular credit data by the European System of Central Banks (ECB/2014/6). The decision requires each national central bank to begin preparations for the establishment of a national credit database.

Regulation (EU) 2016/867 of the ECB on the collection of granular credit and credit risk data (ECB/2016/13) was issued on 18 May 2016. The first stage under the Regulation will begin on 1 September 2018. The first monthly and quarterly transmissions to the ECB will start with data for 30 September 2018. The first counterparty reference data will be transmitted to the ECB six months prior to the first transmission of credit data.

The SHSG (Securities holdings of banking groups) data collection will not be implemented as part of the LuoTi project as originally was planned. Instead, a common platform offered by the ECB will be used.

Regulation (EU) 2016/1384 of the ECB concerning statistics on holdings of securities was issued on 2 August 2016. The first quarterly security-by-security group data under the Regulation will be reported for the reference period September 2018. The data will be transmitted to the ECB in accordance with Article 6a of the Regulation. The Governing Council of the ECB will determine the banking groups reporting in the data collection. Included are banks directly supervised by the ECB (SSM banks).

In April 2015, regular meetings of a cooperation group (the smaller AnaCredit working group) were commenced in the composition of the Bank of Finland’s LuoTi Project Group and representatives of the banks, the Federation of Finnish Financial Services and the Financial Supervisory Authority. The objective of the working group is to develop common definitions and interpretations.

The Bank of Finland has started preparations for the establishment of the credit database data collection (LuoTi project). This website provides information on the preparations and progress of the project.

 

​Project schedule

  • 30 September 2016 Publication of preliminary requirements
  • 31 January 2017 Publication of the technical reporting guide
  • 24 May 2017 Update of the technical reporting guide
  • Q3/2017 Start of testing
  • Q1/2018 Go Live of system (release 1) in Bank of Finland
  • Q2/2018 First reporting of counterparty reference data to Bank of Finland as of 31 March 2018
  • Q3/2018 Go Live of system (release 2) in Bank of Finland
  • Q4/2018 First reporting of credit data to Bank of Finland as of 30 September 2018

​Requirements (Analytical Credit Database)

The preliminary requirements by the Bank of Finland can be found here:

Instructions for reporting the exiting credit from Credit data collection can be found here:

Other general instructions can be found here:

Description of electronic reporting for credit data collection

Attachments (published 17 March 2017, updated 30 August 2018):

​validation checks for credit data collection

More comprehensive validations published by the European Central Bank can be found on its website (only in English).

​Credit data collection - Reporting Calendar

Full reporting requirements:

Reference period Deadline
COPA -
Counterparty reference data reporting
AC/M
Credit data collection - Monthly data
AC/Q
Credit data collection - Quarterly data
2018M3 23.4.2018    
2018M9 12.11.2018 12.11.2018 12.11.2018
2018M10 21.11.2018 21.11.2018  
2018M11 27.12.2018 27.12.2018  
2018M12 22.1.2019 22.1.2019 11.2.2019
2019M1 21.2.2019 21.2.2019  
2019M2 21.3.2019 21.3.2019  
2019M3 23.4.2019 23.4.2019 13.5.2019
2019M4 22.5.2019 22.5.2019  
2019M5 24.6.2019 24.6.2019  
2019M6 19.7.2019 19.7.2019 12.8.2019
2019M7 21.8.2019 21.8.2019  
2019M8 20.9.2019 20.9.2019  
2019M9 21.10.2019 21.10.2019 11.11.2019
2019M10 21.11.2019 21.11.2019  
2019M11 23.12.2019 23.12.2019  
2019M12 23.1.2020 23.1.2020 11.2.2020

Derogated reporting requirements based on Regulation ECB/2016/13 Article 16 (Quarterly reporting):

Reference period Deadline
COPA -
Counterparty reference data reporting
AC/M
Credit data collection - Monthly data
AC/Q
Credit data collection - Quarterly data
2018M3 23.4.2018    
2018M9 12.11.2018 12.11.2018 12.11.2018
2018M12 22.1.2019 22.1.2019 11.2.2019
2019M3 23.4.2019 23.4.2019 13.5.2019
2019M6 19.7.2019 19.7.2019 12.8.2019
2019M9 21.10.2019 21.10.2019 11.11.2019
2019M12 23.1.2020 23.1.2020 11.2.2020

​Other information

The ECB has published a regulation relating to AnaCredit database on its website (link). Cover notes and other material related to the ECB’s project are available here.

The ECB has published a regulation relating to statistics on holdings of securities (SHSG) on its website (link).

 

Cooperation with Nordic and Baltic countries

As part of cooperation with interest groups, the Bank of Finland has participated in the work of the Nordic-Baltic Task Force on AnaCredit working group. The other member countries of the working group are Denmark, Sweden, Estonia, Latvia, Lithuania and Norway.

As regards the implementation of AnaCredit reporting, the fundamentals and plans differ considerably between the Nordic and Baltic countries. As a result of the cooperation, the working group will produce a documents that describe the national deviations (attributes and code lists) from the Regulation and the related background information. In addition, the working group countries seek to further streamline for example the timetables for testing and the definitions of national requirements.

Documents (in English only):

Published in December 2017, the documents are preliminary – the working group shall publish the final documents later.