DTCC CICI/LEI Utility Review
Ronald Jordan
June 2013
[Classification]
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What is an LEI?
• Objective & benefits
• Key principles
• Core data attributes
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Objective of LEI
Enable consistent and accurate identification of all legal entities
that are parties to financial transactions.
Benefits
• For regulators: Strengthen systemic risk capabilities by allowing
accurate, consistent, reliable and timely analysis of position and
transaction reports across all legal entities, jurisdictions, and asset
classes.
• For institutions: Increase the ability of financial institutions to
accurately report to regulators and to improve their risk management
capabilities.
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Key Principles of LEI from the FSB
• Global
The LEI must be globally standardised, a
common language
• Unique
A single unique identifier assigned to every
legal entity
• Reliable
Supported by dependable controls & high
quality reference data
• Public Good
Full database published as a public good, free
to all users
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The Key Attributes of an LEI
• Legal Name – CA Consumer Finance SA
• Address
128 - 130 Boulevard Raspail
Paris, FR 75006
• Entity Status – Active
• Legal Form – Société anonyme
• Record State – Validated
• Certification State – Not Certified
ZPY1QN3K1A1C2R3JL544
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What is an LEI hierarchy?
Ultimate Parent
7XXS77RGZJYII1SEAD39
Immediate Parent
VR4TOH2GNBAU84FZOL24
NG76FQNN6KIX56NYMZ82
B3RX2GFS0X3SINAZLL77
ZPY1QN3K1A1C2R3JL544
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Roadmap for way forward
CICI code
•
•
•
•
•
• Provider selection May 2012
• Staying aligned with FSB
recommendations
Governance
Implementation
Operational
Funding
Scope
SWAPS reporting
• Live in stages in 2012 and 2013
G20 Summit – June 2012
Relevance outside US
• Formed Regulatory Oversight Committee
• Formed Committee on Evaluation and
Standards
• European reporting in Sept. 2013
• Other LOUs established
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CICI Summary
•
CICI activity has been consistent with expectations. The CICI database currently has
over 60,000 entities in over 120 countries (currently 80,000).
The global regulatory environment remains challenging and uncertain, but DTCC has
gained creditability and operating experience.
•
CICI Utility Cumulative Record Volume
70,000
63,876
57,922
60,000
Cumulative Revenue
50,000
45,605
40,000
30,000
48,077
49,693
36,736
29,291
24,606
25,787
August
September
20,000
10,000
October
November
December
January
February
Cumulative Records
DTCC Restricted (Red)
Confidential Treatment Requested by DTCC/DTC/NSCC/FICC Pursuant to the Freedom of Information Act
March
April (as of 4/9)
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