Instruments related to deregistered counterparties

Question

Could you clarify the AnaCredit reporting of instruments of debtors which have ceased trading and been deregistered from the business register? For example, a loan was previously granted to a debtor. However, the loan became non-performing and as a result of legal proceedings, the debtor is not conducting business and has ceased to exist in the business register at some point in time. Despite the fact that the debtor is deregistered from the business register, this instrument still exists.

Answer

It is clarified that such instruments are reported to AnaCredit after the deregistration date of the debtor (provided that the instruments are subject to AnaCredit reporting at a reporting reference date in accordance with the AnaCredit Regulation). The existence of such instruments is often a result of the legal process of liquidating a company, which is complicated and may last for many years, and there may be conflicting views about whether or not a counterparty has ceased to exist. In such cases, there will be a possibility to centrally consolidate the different views of different reporting agents, whereas AnaCredit will have information about such debtors’ current exposures (which may be of particular relevance in the context of non-performing loans).

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