;  •  a more accurate analysis of credit risks, and their potential build-up into systemic risks in the financial sector, will be released on financial institutions’ exposures to various economic segments or (cross-border) counterparties;  •  the calibration of macro-prudential policies – based on, e.g., counter-cyclical capital buffers – may also greatly benefit from AnaCredit;  •  similarly, aggregating all exposures of banks to a given borrower, which are often located in different jurisdictions, will provide a meaningful picture of the debt sustainability of this borrower and, hence, of risks borne by its creditors.
Given the complexity arising from the granularity and the expected large volumes, the search for the right balance between data needs and reporting burden is particularly challenging. Therefore, the project will be implemented step-by-step, to allow a smooth implementation for both participating central banks and reporting agents.