Eligibility requirements

Frequency of data submission (DECCs)

DECC loan-level data must be reported on at least a monthly basis, no later than one month following the cut-off date, which corresponds to the last calendar day of the month.

Scoring of data

DECC loan-level data are required to achieve a minimum level of compliance, which is assessed with reference to the availability of information for particular fields in the loan-level template. In order to ascertain the reasons for any unavailability of data, six “no data” (“ND”) options are available. These must be used whenever data cannot be submitted using the template.

The various “no data” options and their meaning are set out in the following table:

No mandatory fields for loan-level data may be reported as “ND 1”, “ND 2”,
“ND 3” or “ND 4” for any individual transaction.

Applying the above-mentioned thresholds, the European DataWarehouse will generate and assign a score to each DECC following the submission and processing of loan-level data. This score will reflect the number of mandatory fields reported as “ND 1” and the total number of mandatory fields reported as “ND 2”, “ND 3” or “ND 4” (relative, in both cases, to the total number of mandatory fields). The options “ND 5” and “ND 6” may, in this regard, only be used if applicable to the relevant fields in the data reporting template.

The two thresholds are combined to produce the following matrix indicating the range of possible scores for loan-level data:

The Eurosystem may temporarily accept as eligible collateral non-compliant transactions on a case-by-case basis and subject to the provision of adequate explanations regarding the reason for the failure to achieve the mandatory score. These explanations are to be given using a standardised explanation form (to be provided via eligible-assets.hotline@ecb.europa.eu). For each adequate explanation the Eurosystem will specify a maximum tolerance level and a tolerance horizon. The tolerance horizon indicates that data quality must improve within the specified time period.

The full list of adequate explanations is provided in the overview below, along with the corresponding tolerance levels and tolerance horizons. This overview is subject to revision at the Eurosystem’s discretion.

Legacy assets

Legacy assets refer to assets with missing data for a limited number of mandatory fields.

Legacy IT systems

The loan originator’s IT systems do not store a small amount of mandatory data.

Not integrated IT systems

Data not reported because the required data are stored in different systems that cannot easily be consolidated (such as due to recent bank mergers).