day 2 - lei and swiftref update

LEI & SWIFTRef Update

Paul Janssens, LEI programme Director, SWIFT

Steven Palstermans, Commercial Manager SWIFTRef, SWIFT

SWIFT Benelux Forum

22 April 2015

Agenda

1 •Adoption of LEI

2 •BIC Standard revision

3 •SWIFTRef update

SWIFT Benelux Forum - April 2015 2

LEI Format

LEI = 18!an 2!n

Example

•HB7FFAZI0OMZ8PP8OE26 • Society for Worldwide Interbank Financial Telecommunication

SCRL/CVBA

• Avenue Adèle 1 1310 – La Hulpe BELGIUM


Code

Check Mod 97

Global LEI System

Global LEI Foundation

LEI Issuer

LEI Issuer LEI Issuer


Regulatory Oversight Committee

Industry / Public / Regulators / Vendors

Statistics (27 Mar)


• GMEI Utility

– Total records 167,572

• All Endorsed LOUs


–GMEI Utility 49.1%

• Benelux


–GMEI Utility 17,502

– Lapsed 3,587 ~10%

6

Market participant registers

Implementing LEI

Creating a coherent picture of clients

Provider makes data set public = LEI with core data

Market participant introduces data set in data systems

LEI data set is used to identify counterparties

Provider assigns LEI “key”

SWIFT Benelux Forum - April 2015

Action points

• Registration

–Ownership and Responsibility

–Centralised

–Decentralised

–Bulk process

• Renew LEIs = yearly process

• Consolidated LEI file

– Integration

–Mapping

• Reporting Requirements


Agenda





ISO 9362 – BIC

• ISO 9362:2014 – Final version approved

– Implementation transition period

– Publication

• Standard – BIC data record

– Data attributes

• Registration procedures – Enhanced validation

– Third-party registration

– Data maintenance responsibility


Implementation Timeline


Dec 2013 Jan 2015 Nov 2018

Standard approved

End of transition period

RA

Users

SWIFT

Start of transition period

BIC data record

• The full legal name of the Business Party

• The registered address of the Business Party

• The status of the Business Party: financial institution or non-financial

institution

• The date of publication of the new record

• The date of last update of the record

• The date of expiry of the record (when applicable)

• An indication if the record is self-maintained.

• Optional branch identifier


Areas not impacted

• Existing BIC

• BIC structure

• Alpha-numeric BIC

• Country code

• Test & Training BIC


Changes > Feb 2015


• New connected BIC

• Connectivity attribute

• Connectivity change

• Category

–Financial Institution

–Non-Financial Institution

• Metadata attributes

Agenda





Availability of a new version of the SWIFTRef BIC

directory

Nov 2015

Oct 2015

Availability of Technical

specifications and Sample file

on www.swift.com/

SWIFTRef

April-May 2015

Customer validations & consultations

March 2015

Availability of DRAFT technical specifications on

demand

If you wish to contribute to content and structure of the

new SWIFTRef BIC Directory, join as a pilot!

If you wish to test our IDEAS for the new

SWIFTRef BIC Directory, get the draft specs!

BIC Directory evolution

http://www.swift.com/SWIFTRef



Who needs SWIFTRef and for what?

Financial institutions

Corporates

Local communities

MT103/MT202 pacs

Payment processing &

routing

Collection & Maintenance

services Regulatory reporting

Counterparty high-level risk

assessment

Software providers

Payments Plus

IBAN & SEPA DATA • Validate IBANs and BIC codes • Find BICs from IBANs • Construct IBANs from BBANs • Find the best routing path for a

beneficiary bank (SEPA) • Find the adherence to SCT, SDD-B,

SDD-C schemes

BANK DATA • Identify Financial Institutions • Find or cross-reference

identifiers • Validate bank details • Understand bank hierarchy • Find history of BICs

SWIFTRef files-portfolio

Bank Directory Plus

BIC Directory

BIC Archive

BIC to LEI

IBAN Plus

SEPA Plus

SSI Retail

SSI Wholesale

SSI Plus

SSI DATA • Find the correspondent bank • Find the intermediary bank • Scope = commercial payments,

FX, MM

SWIFTRef portfolio today

BANK DATA • Identify Financial Institutions • Find or cross-reference identifiers

(BIC, LEI, CHIPS, national IDs,…) • Validate bank details • Understand bank hierarchy • Find financial data, credit ratings, ownership,

contacts and more

IBAN & SEPA DATA • Validate IBANs and BIC codes • Find BICs from IBANs • Construct IBANs from BBANs • Find the best routing path for a beneficiary

bank (SEPA) • Find the adherence to SCT, SDD-B, SDD-C

schemes

SSI DATA • Find the correspondent bank • Find the intermediary bank • Scope = commercial payments, FX, MM

All the data you need - Online

- Easy to use - Any time

SWIFTRef portfolio today

SWIFT Broadcasts • Find all broadcast

messages sent since 2009

• Searchable by Sender name, BIC, Category (e.g. Mergers), Time period …

Historic BIC DATA

• Find all historic changes related to a BIC (since 1 Nov. 2007)

• Find all newly added and deleted BICs

• Get a daily BIC email alert, advising on inter-month changeschanges

MT094 Online BIC Archive Online Bankers World Online

SWIFTRef Online

SWIFTRef Online portfolio


SWIFTRef portfolio – ERP packages

Corporate Pack One

To make your existing client & supplier database

SEPA-compliant

File-based data:

SWIFTRef database

Corporate Pack Two

To make frequent SEPA and international

payments

File-based data:

Online access to:

- Complete SWIFTRef database

Corporate Pack Three

To make frequent SEPA and international payments as well as critical FX/MM transactions

database

File-based data: - All BIC codes worldwide - BIC/IBAN data of 64 IBAN/SEPA

countries - National Bank IDs for 152+

countries ( incl. local language) - Payment routing information

(incl. SEPA) - Standard Settlement

Instructions

Online access to: - Complete SWIFTRef database

File-based data: - All BIC codes worldwide - BIC/IBAN data of 64 IBAN/SEPA

countries - National Bank IDs for 152+ countries (incl. local language) - Payment routing information

Online access to: - Complete SWIFTRef database

File-based data: - All BIC codes worldwide - BIC/IBAN data of 64

IBAN/SEPA countries

Online access to: - Complete SWIFTRef

database

New, Entity Plus

List of all LEIs and attributes

List of all BICs and attributes

FFI list of all GIIN codes

Additional packaged files

Entity

BRN

LEI

GIIN

BIC

CHIPS

MIC

Entity Plus, main file

Available for free, Jan 2015 until live date of Entity Plus

Availability – Q2 2015

20

IDs in a hierarchy

Entity (BR)

BIC 3

LEI 2

LEI 1 BIC 1

GIIN 2

GIIN 1

LEI 4 BIC 4

The hierarchy between the Entities belonging to a financial institution’s group will be provided at a later stage

Entity(LE)

Entity (LE)

Entity

(LE)

21

Sample, Entity Plus

ENTITY ID ID TYPE CC NAME

KGCEPHLVVKVRZYO1T647 LEI BE BNP Paribas Fortis s.a./n.v.

1G159I.00269.ME.056 GIIN BE BNP Paribas Fortis SA-NV

GEBABEBBXXX BIC BE BNP PARIBAS FORTIS (FORTIS BANK SA/NV)

BE0403.199.702 BRN BE BNP Paribas Fortis SA/NV

One Entity, many IDs

22

New – SWIFTRef Reach Plus

SWIFTRef Reach Plus

SWIFTNet services

FIN services

Non-SWIFT services

Examples: SCORE FileAct RT, SWIFTNet Funds, SWIFTNet Exceptions and Investigations…

Examples: DK, T2, EBA

Examples: FedWire, FedACH, HK IC, CHAPS, BACS, SIC, …

Availability – Q2 2015

Sample data from SWIFTRef Reach Plus

Platform Service Acronym

Service name DN

SNET GEN_FA SWIFTNet FileAct Real-Time ou=voa,o=vowade2b,o=swift SNET GEN_FA SWIFTNet FileAct Real-Time ou=vwc,o=vowade2b,o=swift SNET GEN_FA SWIFTNet FileAct Real-Time o=montfrpp,o=swift SNET GEN_FA SWIFTNet FileAct Real-Time o=bhifclrm,o=swift SNET GEN_FA SWIFTNet FileAct Real-Time o=sbrede22,o=swift

Platform FIN Service Code

Service name Platform

SNETFIN DDK Danish Krone RTGS ABKFDKK1XXX

SNETFIN DDK Danish Krone RTGS ABNADKKKXXX SNETFIN DDK Danish Krone RTGS ALBADKKKXXX SNETFIN DDK Danish Krone RTGS ALMBDKKKXXX

Platform Service Acronym

Service name Routing Number

FEDWIRE FFS Fedwire Funds Service 021312971 FEDWIRE FFS Fedwire Funds Service 021313103 FEDWIRE FFS Fedwire Funds Service 021313734

FEDWIRE FFS Fedwire Funds Service 021313925

New - SWIFTRef Webservices (APIs)

Real-time identification and validation of specific reference data, available in the SWIFTRef utility

SWIFTRef web server

Swiftrefdata.com

Internet

• Get Details of a BIC

• Check the Validity of a BIC

• Get Details for an IBAN

• Check Validity for an IBAN

• Get the BIC for an IBAN

• How to Reach a BIC in SEPA

• Get the LEI for a BIC

• Get the BIC for an LEI

• Check the Validity of a National ID

• Get National IDs for a BIC

• Get BICs for a National ID

• Get SSIs for a BIC

New - SWIFTRef Data Manager

Software, that allows to manage data locally from SWIFTRef and non-SWIFTRef files in an efficient, easy and user-friendly way.

Filter

Merge

Compare

Main functions

Non-SWIFTRef files

SWIFTRef files

Various files

txt, xlm, cvs

Your customized file

15 Feb 30 Mar 30 June

Pilot version, available for testing

Closing on pilot testing

Live version

Timeline

The SWIFTRef

Platform as a Service

Directory Services

Repositories

Data management

Registration Services

MI directory design

A world of possibilities

Leveraging the SWIFTRef platform to deliver World

Class Directory and Data Solutions

New – Platform as a Service

Collateral at your disposal

Generic presentation Brochure Factsheets in multiple

languages Data collection &

maintenance overview Case studies Generic + Product videos

SWIFTRef website • Technical

specifications! • Sample files • Release letter • Frequently Asked

Questions • License Agreements • Webinar recordings

www.swift.com/SWIFTRef


Useful links


www.swift.com/lei

www.swift.com/bic

swiftref.swift.com

www.gmeiutility.org

www.gleif.org

www.leiroc.org

Questions

Answers

&

Thank You grazzi efcharisto obrigada

daku

jem

tata

n ha

vala

deku

ji

spasibo paldies

obrig

ado

kiitos

grazie koszi

Dan

ke

Mer

ci

multu

mes

c dz

ieki

deku

i gr

acias blagodarya

tack

Dan

k u


day 2 - lei and swiftref update

Economy & Finance

swift swift benelux

lei format lei

adoption of lei

data systems lei data

bic iso

transition period bic

bic standard revision

benelux total records