Page 249 - Special Topic Session (STS) - Volume 3

STS 543 Luís T. D. et al.
AnaCredit is a dataset containing detailed and monthly updated information
on individual bank loans in the euro area, harmonised across all Member-
States. It uses new data and existing national credit registers to achieve a
harmonised database that supports several central banking functions, such as
decision-making in monetary policy and macroprudential supervision.
Two main reasons help to explain the importance of the creation of
AnaCredit at the European level: (i) the GFC showed that economic sectors in
different countries do not exhibit a homogeneous response to economics
shocks and, therefore, the availability of granular data could play an essential
role in monitoring such responses; and, (ii) in the wake of the GFC, the ECB
and some national central banks in Europe have taken on new
macroprudential tasks that require, namely, comparable good quality granular
information on credit.
With a view to fulfilling the AnaCredit’s requirements, the Portuguese CCR
has been completely redesigned in 2018 and adopted a new data model: a
loan-by-loan basis instead of the borrower-by-borrower approach that had
been in place since its inception. Although the first stage of AnaCredit
comprises only loans granted by banks to legal entities (thus excluding, for
the moment, households) with an exposure above EUR 25,000, the Portuguese
CCR has kept its extensive coverage, both in terms of its participating
institutions (all resident credit-granting institutions), borrowers (legal and
natural persons), and threshold (EUR 50), in an attempt to cover all the
attributes for most of this universe.
In reality, the redesign of the Portuguese CCR was not just a move to meet
the AnaCredit’s requirements – rather, there was a paradigm shift in data
management at the Bank, according to which the CCR now operates as the
single entry point for all credit and credit risk data, thus creating a
multipurpose hub of credit information that can be used by various business
areas of the Bank.

The New CCR
The implementation of the new CCR information system took into careful
account other data needs (not related with AnaCredit) and specific
functionalities identified as relevant by the main stakeholders. The resulting
new data model includes not only the 94 attributes requested by AnaCredit
but also other credit data attributes needed by the Bank’s internal users,
allowing for the rationalization of data submissions by financial intermediaries,
through the use of the single entry point approach (as shown in Figure 1
below), and permitting to achieve a high standard of data integration.

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