05 November 2018

ECB: AnaCredit Validation Checks: Selected validation checks performed in AnaCredit datasets

As such, this document provides detailed information and guidance on the AnaCredit reporting requirements, but does not contain any additional requirements and is not legally binding per se. Regulation (EU) 2016/867 of the European Central Bank of 18 May 2016 on the collection of granular credit and credit risk data (ECB/2016/13) (hereinafter referred to as “the AnaCredit Regulation”) is the only legally binding document for AnaCredit data collection.

Generally, validation checks ensure that the information registered in AnaCredit complies with the AnaCredit data model. Additionally, validation checks allow the data to be identified that, while logically compliant with the AnaCredit data model, are methodologically inconsistent. 

The published validation checks are a minimum set of self-contained rules which the data reported to AnaCredit must satisfy in order to comply with the completeness and consistency requirements stipulated. All data reported will be subject to validation checks in order to ensure that the information is complete and consistent, in accordance with the principles of the AnaCredit data model. In addition to being consistent with the AnaCredit model and the AnaCredit Regulation, validation checks also take into account the general methodology set out in the AnaCredit Manual.

Reporting agents are encouraged to perform quality assurance activities and, to that extent, enhance their existing data quality management systems in order to ensure that the data transmitted complies with the relevant requirements. 

Please note that the validation checks described in this document apply to the data specifications as described in the AnaCredit Regulation and thus the specific implementation and data structure schemes applied by the relevant NCBs may make some of the checks in this document non-applicable.

NCBs may perform additional data validation checks that go beyond the minimum common standard of validation checks published in this document. The data quality standards described in this document are also subject to specific national derogations as laid down in the AnaCredit Regulation.

Owing to the complexity of the financial structures recorded in AnaCredit by means of instruments, counterparties, protections, etc., these validation checks may not encompass all the necessary business cases before actual receipt of the AnaCredit data. Therefore, an analysis of the data received might identify additional consistency checks to be progressively incorporated in the set of validations provided in Section 4 of this document.

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