Central credit registers (CCRs) are granular databases operated by National Central Banks (NCBs). As Almeida and Damia state, “there are three main uses of CCRs: (1) to enable bank supervisors to accurately assess credit risk in supervised financial institutions; (2) to support financial transactions by assisting credit institutions in the evaluation of risk; and (3) for economic analysis.”
On a European level, the ESCB (European System of Central Banks) has been exploring the potential statistical use of CCRs from 2007 on. Related initiatives have proven the analytical usefulness of CCRs. To address remaining issues, the ESCB Task Force on Analytical Credit Data Sets was set up in 2013 to shed light on the following key issues:
(a) What further granular credit data does the ECB require?
(b) What data, including attributes on lenders, borrowers, credits and methodological aspects, should be collected from National Central Banks?
(c) How can data sets be shared across the Eurosystem/ESCB?
In 2014, the ECB decided that the AnaCredit project should have top priority with regard to the upcoming ECB supervisory task. AnaCredit is, simply put, “an IT solution (Analytical System on Credit – AnaCredit) for receiving, storing and disseminating credit and credit risk information on a euro area.” The quality of AnaCredit’s statistical evaluation depends on relevant input. As a consequence, the ESCB must ensure the transfer of European-wide and harmonised credit data to the ECB by the end of 2016. Though the concrete data request is not yet finalised, it is already evident that banks shall report granular loan portfolio and borrower data on a loan-by-loan level. The statistical evaluation of this data shall support the ECB’s credit and credit-risk analysis which is required for the conduct of monetary policy, micro-prudential supervision and financial stability.