Regulatory Alerts2020-04-30
Plausibility Checks for Million Credit Reports under Section 14 KWG
The Deutsche Bundesbank issued this document in April 2020 to define plausibility checks for million credit reports under Section 14 of the German Banking Act (KWG), effective for the reporting deadline of December 31, 2020. The regulations specify detailed validation rules for four distinct data formats: BA, BAS, BA6/BA7, and BAS6/BAS7, covering field-specific constraints, checksums, and cross-format consistency. Submitters are required to validate all files against the XML schema prior to submission, as only schema-compliant files will be processed by the Bundesbank.
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