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:
Other general instructions can be found here:
Description of electronic reporting for credit data collection
Attachments (published 17 March 2017, updated 13 July 2018):
- AC XSD v1.6.zip (schema files)
- AC XSD Elements v1.6.xls (description of schema)
- AC_2016M12_FI00000000_20170101120000.zip (example files)
- AC Record Structure v1.6.xls (data model)
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 | 19.10.2018 | 19.10.2018 | 11.11.2018 |
| 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 | 12.5.2019 |
| 2019M4 | 22.5.2019 | 22.5.2019 | |
| 2019M5 | 24.6.2019 | 24.6.2019 | |
| 2019M6 | 19.7.2019 | 19.7.2019 | 11.8.2019 |
| 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 | 19.10.2018 | 19.10.2018 | 11.11.2018 |
| 2018M12 | 22.1.2019 | 22.1.2019 | 11.2.2019 |
| 2019M3 | 23.4.2019 | 23.4.2019 | 12.5.2019 |
| 2019M6 | 19.7.2019 | 19.7.2019 | 11.8.2019 |
| 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.