Wider use of LEIs will improve stability, says DNB president
LEI system should be improved and made compulsory for more types of financial data – Klaas Knot
Legal entity identifiers (LEIs) have improved financial stability and need to be more widely used, said Netherlands Bank president Klaas Knot on February 4.
Regulators use LEIs for many purposes, including monitoring financial risk, tracking firms’ aggregate exposures and resolution planning, Knot told an audience in Amsterdam. They had led to major improvements in data quality, Knot said, and are now being used in international stress tests.
Knot also serves as vice-chair of the Financial
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