The Governing Council of the European Central Bank (ECB) decided in December 2010 to implement loan-level data reporting requirements for asset-backed securities (ABSs) as part of the Eurosystem's collateral framework.
Preparatory work has been concluded and the Governing Council also took note of the creation of a European DataWarehouse, the single loan-level data repository that could be used for the handling of loan-level data reporting. In this context, the mandatory provision of loan-by-loan information for ABSs is to be introduced as follows:
Loan-level data are to be provided in accordance with the templates available on the ECB's website, at least on a quarterly basis. The Governing Council has also decided on details and modalities of the implementation process, which are outlined below.
Details relating to loan-level data reporting
These requirements will be introduced by means of an amendment to the Guideline of the ECB of 20 September 2011 on monetary policy instruments and procedures of the Eurosystem (recast) (ECB/2011/14).
£100,000 basic, £180,000 OTE + BenefitsLondon
© Finextra Research 2016