Clarifications concerning the reporting of counterparty reference data

Question

Could you please confirm that the Legal Entity Identifier (LEI) or, if an LEI is not available, a national identifier from the list of national identifiers is reported for any counterparty in addition to the (mandatory) counterparty identifier?

Secondly, considering the explanations provided in Part II of the Manual, could you please further clarify the interchangeable use of legal entities, head office undertakings and domestic parts when it comes to the identification of counterparties? How does this relate to the scope of counterparty reference data to be reported depending on which identification perspective is followed? Please consider in particular the relationships with foreign branches, especially as regards the question about which perspective to follow when reporting the counterparty reference data.

Answer

As a general rule, please note that the unique identification of counterparties is an essential feature of AnaCredit. Therefore, as set out in Article 9 of the AnaCredit Regulation, the LEI or, if an LEI is not available, a national identifier from the list of national identifiers (for details of the list of national identifiers, see Section 12.4.3 in Part II of the Manual) is always reported for any counterparty in addition to the (mandatory) counterparty identifier, unless otherwise decided by the relevant NCB. This applies irrespective of the role or residency of the counterparty.

As regards the second question, please note that, in accordance with the clarifications provided in Section 12.1 in Part II of the Manual, in the AnaCredit data model, a legal entity is in fact indistinguishable from its head office/domestic part as far as the identification of counterparties is concerned. Consequently, these terms are often used interchangeably in this regard. However, if a legal entity has one or more foreign branches, the scope of counterparty reference data for legal entities is broader than for their head offices/domestic parts where the counterparty reference data relating to the legal entity are reported also including information relating to the foreign branches, despite the fact that the legal entity is identified by the head offices/domestic parts. Consider for example the data attribute “balance sheet total”, which refers to the legal entity as a whole and, consequently, includes information for all of its foreign branches (if any).

However, as far as counterparty reference data relating to foreign branches (or special funds) are concerned, these data exclusively refer to the foreign branch (or special fund, respectively), while the data of the legal entity are not considered. This is in particular clarified in Table 131 in Section 12.2.1 in Part II of the Manual, which is further enhanced with the following explanations.

Revised Table 131

General applicability and scope of the counterparty reference data attributes for foreign branches (and special funds)

Counterparty reference data attributes

Is a value for this data attribute generally reported in the reference data record of a counterparty which is a foreign branch (or special fund)?

Counterparty identifier

Yes, and it refers to the foreign branch (or special fund) only

Legal Entity Identifier (LEI)

Yes, if existing, and it refers to the foreign branch (or special fund) only

National identifier

Yes, and it refers to the foreign branch (or special fund) only

Head office undertaking identifier

Yes, and it is the same for all foreign branches of the same legal entity (represented by the head office/domestic part) (or the same for all special funds managed by the same managing financial corporation)

Immediate parent undertaking identifier

No. This information is only applicable at the legal entity level of the foreign branch (or managing financial corporation) and is therefore reported in the counterparty reference data record of the head office/domestic part

Ultimate parent undertaking identifier

Name

Yes, and it refers to the foreign branch (or special fund) only

Address: street

Address: city/town/village

Address: county/administrative division

Address: postal code

Address: country

Legal form

No for foreign branches, as it is reported in the counterparty reference data record of the head office/domestic part (representing the legal entity)

Yes for special funds

Institutional sector

Yes, and it refers to the foreign branch (or special fund) only

Economic activity

Status of legal proceedings

No for foreign branches. This information is only applicable at the legal entity level and is therefore reported in the counterparty reference data record of the head office/domestic part (representing the legal entity)

Yes for special funds

Date of initiation of legal proceedings

Enterprise size

No for foreign branches. This information is reported in the counterparty reference data record of the head office/domestic part and is calculated as specified in the AnaCredit Regulation (Annex IV)

Yes for special funds

Date of enterprise size

Number of employees

Balance sheet total

Annual turnover

Accounting standard (only for reporting agents)

No. This information is reported in the counterparty reference data record of the head office/domestic part

Please note that in accordance with Q&A 2018/22 for a counterparty which is a foreign branch, the national identifier refers to the foreign branch rather than the legal entity to which the foreign branch belongs.

Furthermore, as regards the data attribute “status of legal proceedings” (and consequently “date of initiation of legal proceedings”), while the data attribute does not apply to foreign branches, a value other than “non-applicable” is reported for special funds because the solvency of a special fund is independent of the solvency of the managing financial corporation that manages it.

Related questions

See also National identifier in the case of foreign branches

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