RegAlert2014-09-03 | NBB_2014_10Added
Communication NBB_2014_10 – Legal Entity Identification
Financial institutions, including credit institutions, financial companies, financial service groups, and liquidation bodies, must obtain a Legal Entity Identification (LEI) code by September 30, 2014. These entities are required to submit the LEI code using the attached form via the eCorporate platform. The directive applies to Belgian entities, EEA credit institution branches, and non-EEA credit institution branches.
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NBB_2014_10 – 3 September 2014 Communication – Page 1/2 boulevard de Berlaimont 14 – BE-1000 Brussels tel. +32 2 221 38 12 – fax + 32 2 221 31 04 company number: 0203.201.340 RPM Brussels www.bnb.be
Communication
Brussels, 3 September 2014
Reference: NBB_2014_10 your correspondent:
Jean-Michel Delaval tel. +32 2 221 30 43 – fax +32 2 221 31 04 jeanmichel.delaval@nbb.be
Legal Entity Identification
Scope
- Financial companies with a stock exchange company at their head;
- Belgian financial companies;
- Belgian credit institutions;
- Financial service groups;
- Belgian liquidation bodies (and equivalents);
- Branch of a credit institution subject to the law of another EEA member state;
- Branch of a credit institution subject to the law of a non-EEA state.
Summary/Objectives
Institutions must communicate an LEI to the NBB.
Madam,
Sir,
With a view to standardizing reporting methods and enabling better identification of market actors, the “Financial Stability Board” proposed the so-called “Legal Entity Identification” (LEI) system, ensuring the provision of a unique code to financial institutions. This was approved by the G20.
In the context of the transmission of data from credit institutions as described by the ITS on supervisory reporting, the European Banking Authority (EBA) also requires a unique identification code to collect and store this data. Therefore, the EBA has decided to promote and use this system. The EBA published a recommendation in this sense on 29 January 2014. It was subject to public consultation with the banking sector. Furthermore, this system will also be used by the ECB within the framework of the Single Supervisory Mechanism (SSM).
Communication – Page 2/2 NBB_2014_10 – 3 September 2014
Therefore, institutions are requested to obtain an LEI code by 30 September 2014 at the latest and to complete the form in the annex via eCorporate. For further information, you may also refer to the website of the “Legal Entity Identifier Regulatory Oversight Committee - LEIROC 1”.
A copy of this communication is sent to the commissioner(s), approved auditor(s) of your institution.
Please accept, Madam, Sir, the expression of my distinguished consideration.
Luc Coene
Governor
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Source: National Bank of Belgium — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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