RegAlert2014-01-29
Added
EBA Recommendation on the use of the Legal Entity Identifier
Competent authorities must request that all institutions under their supervisory remit obtain a pre-LEI code issued by a pre-LOU endorsed by the ROC. Authorities must verify that institutions have requested these codes for entities within their groups by 31 March 2014 for those included in the EBA Decision No 90/2014 sample, and by 31 December 2014 for all other institutions. Competent authorities are required to provide instructions on the consistent use of pre-LEI codes and ensure that all information provided to the EBA contains these codes. The Recommendation applies from 31 January 2014, and competent authorities must notify the EBA of compliance or non-compliance by 29 March 2014.
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EBA RECOMMENDATION ON THE USE OF LEGAL ENTITY IDENTIFIER (LEI) EBA/REC/2014/01 29 January 2014 Recommendation On the use of the Legal Entity Identifier (LEI)
EBA RECOMMENDATION ON THE USE OF LEGAL ENTITY IDENTIFIER (LEI) Contents
- Executive summary 3
- Background and rationale 4
- EBA Recommendation on the use of the Legal Entity Identifier (LEI) 6
Status of the Recommendation 6
Reporting requirements 6
Title I - Subject matter, scope and definitions 7 Title II- Requirements regarding the use of (pre-) LEIs 7 Title III- Final provisions and implementation 7 - Accompanying documents 8
4.1 Cost-benefit analysis / impact assessment 8
The problem 8
The objective 8
The options 8
The preferred option 9
Costs and benefits of the preferred option 10
Net impact of the preferred option 13
Proposed way forward 14
4.2 Views of the Banking Stakeholder Group (BSG) 14
4.3 Feedback on the public consultation 15
Summary of key issues and the EBA’s response 15 Summary of responses to the consultation and the EBA’s analysis 18 - Confirmation of compliance with guidelines and recommendations 22
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Source: European Banking Authority — 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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