AnaCredit is the European Central Bank's analytical credit dataset that requires all national central banks of the euro area to provide granular data on loans granted to legal entities in accordance with the requirements of the European Central Bank. Thus, AnaCredit is a significant source of information for the statistical, financial stability and economic experts of the central banks of the European Union countries and the European Central Bank. Latvijas Banka was among the first nine national central banks of the euro area which started reporting data to AnaCredit in November 2018.
The Council of Latvijas Banka has adopted amendments to the "Regulation for the Credit Register", specifying details on some data required for AnaCredit. At the same time, the amendments enable natural and legal persons to receive the Credit Register data pertaining to them through electronic identification means also recognised by other European Union countries. Persons will be soon given an opportunity to receive the Credit Register data by using not only their identity card (eID card) for the purpose of proving their identity, but also the mobile application eParaksts Mobile; at the same time, a possibility to receive these data from mobile devices in a convenient manner will be ensured. The calculation for the monthly fee to be paid for the use of the Credit Register has been improved as per the number and amount of obligations of the customers entered in the Credit Register by the Credit Register participants, while leaving the total amount of the fees to be paid by the Credit Register participants unchanged.
Amendments have been introduced to the "Regulation on the Provision of Information on the Credit Institutions' Credit Exposures and the Persons Involved", with the requirements for the collection of the data required for AnaCredit being specified.
With regard to amendments to the "Regulation for the Credit Register" and the "Regulation on the Provision of Information on the Credit Institutions' Credit Exposures and the Persons Involved", the Council of Latvijas Banka has adopted amendments to the "Regulation for Electronic Information Exchange with Latvijas Banka", thus making the periodic reporting on credit exposures more convenient and stipulating a transition period for the introduction of the latest encryption algorithms in a quality manner.
The above legal amendments will take effect on 1 April 2019. Taking account of the market participants' interests, a transition period for several regulatory provisions has been set.