In 2014 the ECB announced the development of a central credit register. The objectives of the credit database (Anacredit) is to support the ESCB and the ECB in the performance of different tasks, including:
- Monetary policy analysis and operation
- Risk management
- Financial stability surveillance
The draft regulation was published in December 2015. Based on this regulation 94 data attributes have to be reported for each instrument.
In 2014 the IASB (International Accounting Standards Board) issued the new standard (IFRS 9) for the accounting of financial instruments. The reason for this new standard is that many financial institutions experienced that the requirements in the current standard (IAS 39) were difficult to understand, apply and interpret. To address the deficiencies of the current standard (IFRS 9), a new standard for the financial reporting of financial instruments that is more principle-based is being introduced. IFRS 9 replaces most of the guidance in IAS 39. The IASB decided to accelerate its project to replace IAS 39.