In other words, to refine the data we have, expand it in its micro-dimension where needed and to make it more reliable, timelier and easier to access. The need for high-quality granular data is particularly acute in the financial sector.
Authorities – including central banks – need high-quality financial data at a granular and aggregate level to perform several of their functions, including: conducting monetary policy, assessing systemic risks, supervising banks, performing market surveillance and enforcing and conducting resolution activities.