AnaCredit: reporting of guarantees and counter guarantees on first demand
Bank of Italy highlights the criteria to adopt in the reporting of financing guarantee, when the same guarantees are under a counter guarantees.
Regarding the guarantees issued, the regulation provides these points:
- the guarantees issued to address the credit risk have to be reported in AnaCredit;
- the guarantor is obliged contractually to make payments following the default of the main debtor who received the financing;
- the banks have to report the guarantee for the implementation of credit risk in the calculation of the minimum capital requirements (ref. EU Regulation no. 575/20132).
These guarantees, to report in AnaCredit, are defined c.d. first-level guarantees.
The counter guarantees covering the first-level guarantees have not to be reported because they are not directly related to financing reported.
All the first-level guarantees, issued for the same financing, have to be reported in AnaCredit.
The content of this communication will be present in the Circular no 297/2017 at the first opportunity.
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