Research undertaken by McKinsey & Company and GLEIF estimates that the wider adoption of Legal Entity Identifiers (LEIs) could yield annual savings of over $150 million in the investment banking industry and up to a further $500m for banks in the issuance of letters of credit. The resulting white paper estimated that annual savings in […]
Users can now directly access the complete LEI data pool in real-time following the launch of a new API.
The Global Legal Entity Identifier Foundation (GLEIF) has recently published a list of current and proposed initiatives using the global LEI for regulatory reporting and supervision. Authorities in individual jurisdictions mandate the use of these increasingly important pieces of reference data. GLEIF is monitoring the initiatives and will continue to update this list regularly. At […]
This week XBRL International has released a new draft LEI taxonomy. The LEI taxonomy is intended to provide a single and consistent way for regulators (and companies) to use LEIs within XBRL reports.
OFR Speaks Out on Regulatory Burden. The spirit of the founding US Treasurer, Alexander Hamilton, seems alive and well at that agency. At the recent Financial Data Summit held in Washington, the Director of the Treasury’s Office of Financial Research, Dick Berner described the importance, to that agency, of reducing regulatory burden, describing the way […]
Learn how organisations around world are using new technologies and processes to both increase the efficiency and effectiveness of reporting programs whilst making data more useful and available.
Frankfurt, Germany was the site of the first meeting of the new joint XII/GLEIF Legal Identity in XBRL (LIX) Working Group. The WG aims to define and recommend mechanisms to use the Legal Entity Identifier in consistent ways within XBRL documents. The LEI is today used by a number of leading regulators, and there is […]
XII, in cooperation with the Global Legal Entity Identifier Foundation (GLEIF), is forming a working group to examine and make concrete recommendations about the consistent use of Legal Entity Identifiers (LEIs) within XBRL taxonomies and instance documents.
One of the key messages to come out of the Data Coalition’s “Financial Data Summit” this week was that marrying the private sector’s technical expertise with government’s capacity to set the policy agenda is what will move open data forward.