Legal Entity Identifier (LEI) Requirement Extended to Additional Companies

In accordance with the ECB Decision (Art. 6 (2) – ECB/2014/29) on the provision to the European Central Bank of supervisory data reported to the national competent authorities by the supervised entities, the national competent authorities of the countries participating in the Single Supervisory Mechanism (SSM) are required to identify the supervised entities in their transmission of data to the ECB by the use of a Legal Entity Identifier (LEI).

Provided certain conditions are met, these supervised entities include: (1) CRR credit institutions, (2) financial holding companies, and (3) mixed financial holding companies.

Also the Federal Financial Supervisory Authority (BaFin) informs in its current Circular 1/2015 (BA) that entities belonging to the above-mentioned categories have to have a LEI and that they have to report the identifier to the Deutsche Bundesbank in order to allow for proper data transmission to the ECB. BaFin points out that entities that have already been assigned a LEI will not need to apply for another one. Such entities should simply report their LEI to the Deutsche Bundesbank.

Entities should report their LEI to the Deutsche Bundesbank via email at mio-dta@bundesbank.de by February 28, 2015.

The LEI is an identifier that can be applied for online at authorized allocation agencies (e.g.,geiportal.org).

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