Page 479 - Invited Paper Session (IPS) - Volume 1

IPS177 Jose-Maria S. G.
but can nevertheless provide useful insights for central banks. In around 15%
of these cases, central banks have no access to any non-public data at all (and
do not plan to gain access).
5

Does your central bank have access to non–public derivatives data reported to
TRs/TR-like entities (other than the central bank)?

The sum of the responses can exceed 100%, as several answers are possible.
Sources: IFC survey on trade repositories, 2018

The second insight is that access to data depends on the location of the
trade repository. It should be noted that central bank rarely collects
transactions data themselves. Actually, in most jurisdictions central banks are
not in charge of this task, which is ensured by separate TRs that can be located
within the central bank’s jurisdiction or in another jurisdiction. Since TR data
are very confidential, access for central banks that are not directly tasked with
collecting them has not been straightforward. Overall, access problems are
greater when the recognised TRs are located outside a central bank’s
jurisdiction.
The third insight is that access to highly granular data collected by TRs
outside a central bank jurisdiction is particularly problematic. Not only access
may be limited, but also arrangements can be complex - central banks often
need to access through another authority.
Overall, the survey reveals that central banks face limits to access data
collected by trade repositories. This suggests that there is scope to remove
barriers to access, and effectively use it.

defined as “data below the level of aggregated data and with a higher likelihood of identifying
individual reporting units than in the aggregated data” (IAG (2017)).

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