LEI & SWIFTRef Update Paul Janssens, LEI programme Director, SWIFT Steven Palstermans, Commercial Manager SWIFTRef, SWIFT SWIFT Benelux Forum 22 April 2015
Jul 16, 2015
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
SWIFT Benelux Forum - April 2015 3
Code
Check Mod 97
Global LEI System
Global LEI Foundation
LEI Issuer
LEI Issuer LEI Issuer
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Regulatory Oversight Committee
Industry / Public / Regulators / Vendors
Statistics (27 Mar)
SWIFT Benelux Forum - April 2015 5
• GMEI Utility
– Total records 167,572
• All Endorsed LOUs
– Total records 345,590
–GMEI Utility 49.1%
• Benelux
– Total records 37,500
–GMEI Utility 17,502
– Lapsed 3,587 ~10%
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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
SWIFT Benelux Forum - April 2015 7
Agenda
1 •Adoption of LEI
2 •BIC Standard revision
3 •SWIFTRef update
SWIFT Benelux Forum - April 2015 8
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
SWIFT Benelux Forum - April 2015 9
Implementation Timeline
SWIFT Benelux Forum - April 2015 10
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
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Areas not impacted
• Existing BIC
• BIC structure
• Alpha-numeric BIC
• Country code
• Test & Training BIC
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Changes > Feb 2015
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• New connected BIC
• Connectivity attribute
• Connectivity change
• Category
–Financial Institution
–Non-Financial Institution
• Metadata attributes
Agenda
1 •Adoption of LEI
2 •BIC Standard revision
3 •SWIFTRef update
SWIFT Benelux Forum - April 2015 14
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
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
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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
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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
SWIFT Benelux Forum - April 2015 30
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
SWIFT Benelux Forum - April 2015 32