Wider use of LEIs will improve stability, says DNB president

Klaas Knot
Klaas Knot
Photo: DNB

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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