Solution Overview

AxiomSL provides all of the data aggregation, validation and reporting functionality needed to comply with the European Central Bank’s (ECB) Analytical Credit Dataset (AnaCredit) regulation. Its scalable platform and business dashboards allow users to quickly process and manage the large quantities of data that are needed.

AxiomSL’s solution leverages a financial firm’s existing data structure to quickly and accurately aggregate the required AnaCredit data from multiple source systems. After being enriched and validated, the data is mapped to the ECB’s data structure and used to populate the mandatory report templates. The solution then applies the regulatory validation rules and reconciles the AnaCredit reports with other disclosures.

Business dashboards allow users to monitor the entire reporting process. The dashboards make it possible to manage the attestation of large numbers of reports, including variance and plausibility analysis. The dashboards also give users the ability to drill down from the final reports to the source data, and to make manual adjustments if necessary. Once they are satisfied with their reports, users can sign off on them before they are submitted to the relevant domestic credit register.

AxiomSL’s solution is highly flexible and scalable. This makes it possible to load, process and submit the large volumes of data that are required for AnaCredit, within the ECB’s tight deadlines. AxiomSL supplies and maintains the report templates needed for AnaCredit. When these change, updated templates will automatically be provided. Regulatory update releases such as these are separated from software releases, allowing firms to upgrade quickly without undergoing costly regression activities.

AxiomSL’s solution for AnaCredit reporting is built on the same platform as all of its other solutions. This ‘one platform’ approach ensures consistency between reports submitted for different regulations. It also reduces cost and complexity because firms do not need to maintain separate systems to comply with different reporting requirements. AxiomSL’s ‘one platform’ model means the same system can be used for all other regulatory reporting and stress testing requirements. These include the Firm Data Submission Framework (FDSF), the Comprehensive Capital Analysis and Review (CCAR), Common Reporting (COREP), Financial Reporting (FINREP) and many others.

  • A single platform that can be used not only for AnaCredit, but also for all other regulatory reporting requirements globally
  • Automation of the entire reporting process
  • The ability to load data in any format without conversion
  • The scalability needed to process large volumes of data
  • Drilldown from reported values to source data
  • Sign-off functionality
  • Fully supported templates
  • Separation of regulatory update releases and software releases

    AnaCredit is a plan by the ECB to create a central register of granular data about the credit exposures of credit institutions and other loan-providing financial firms in Eurozone countries. European Union (EU) countries that are outside the Eurosystem also have the option to participate in the program. So far Sweden and Denmark have decided to implement the requirements.

    AnaCredit data will be collected by a network of domestic credit registers (such as La Central de Información de Riesgos del Banco de España, CIRBE, in Spain). As part of the ECB’s requirements, the data reported to these domestic registers will be harmonized and made more granular. Credit institutions will need to report more than 100 data attributes about their credit exposures.

    Many of the AnaCredit data items have never previously been required for external reporting. As a result, credit institutions will need effective data quality functionality to ensure their data is accurate and consistent. If the required data is available, it will be spread across multiple systems and will need to be aggregated, normalized and mapped into the ECB’s data structure.

    The ECB has set the reporting threshold for reportable loans to amounts equal to or larger than EUR 25 000 and will require more frequent reporting than is currently mandated by domestic credit registers. This means credit institutions need a platform that enables them to produce significantly more regulatory reports at more frequent intervals. Although the initial reporting will only be for loans to corporations and other legal entities the project might be extended to include housing loans to private households in the future increasing the reporting burden.

    The first reporting is currently scheduled to start in September 2018.


AxiomSL AnaCredit Seminar



 

AxiomSL AnaCredit Solution

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Resource Center

AnaCredit: Regulation gets granular

The recent economic and financial crisis has revealed the inadequacy of ‘traditional’ statistics to support policy making – making the requirement of additional information...

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AnaCredit: Putting credit exposures...

The European Central Bank (ECB) is finalizing its plans for a centralized register of granular credit data, which will enable it to conduct more detailed market surveillance...

Read More…

The ECB’s AnaCredit project will...

The European Central Bank (ECB) is significantly increasing its focus on credit risk. As part of the Analytical Credit Dataset (AnaCredit) project,it plans to create...

Read More…

AnaCredit: Regulation gets granular

The recent economic and financial crisis has revealed the inadequacy of ‘traditional’ statistics to support policy making – making the requirement of additional information...

Read More…

Awards


 
Asian Banker Award – Risk Management Awards 2016
Waters Rankings – Best Reporting System Provider
Waters Rankings – Best Reporting System Provider
RiskTech 100 2014 Category Winner Customer Satisfaction