AnaCredit or the European Regulation on Credit Exposures

What is AnaCredit?

Following the various reforms proposed by regulators (IFRS 9, BCBS239), a new regulatory requirement on the collection of credit exposure data (Analytical Credit Dataset) was published in 2016. It will be applicable from September 30, 2018 for the first phase. The regulator’s objective is to standardize national monitoring mechanisms. The goal for the ECB is to better understand the level of counterparty indebtedness and to harmonize credit granting policies within the European Union.

What are the obligations related to AnaCredit?

AnaCredit requires the collection of granular data when the debtor’s total commitment is greater than or equal to €25,000. Beyond simply implementing a new reporting requirement, this new regulation is accompanied by a single data dictionary specifying the definition of each term as well as the expected values in order to enable harmonization of declarations within the eurozone.

What are the impacts?

And what about MeltOne Advisory in all this?

Through their experience with regulatory matters, our consultants are able to meet the functional requirements needed for AnaCredit reporting, and to support you in implementing them in your information system.

Our consultants are able to support you in initiating compliance work right now. They have dual IT and Business expertise that will enable you to better understand the first phase before phases 2 and 3, which are still under study at the ECB for implementation planned from 2019.