Question
Where the credit institution does not have consent to disclose the clients names, what should it report here?
Background on the question
Due to sensitivity and local privacy rules.
Answer
Article 394(1)(a) and (2)(a) of Regulation (EU) No. 575/2013 requires to report the identification identity of the client or the group of connected clients to which an institution has a large exposure to their competent authorities. This requires institutions to report certain information regarding large exposures to their competent authorities, which are bound by professional secrecy as required by Article 53 of Directive 2013/36/EU. This does not constitute a disclosure requirement.