ECB’s AnaCredit: useful but impossible for the non-euro area

AnaCredit is a multi-purpose shared data set containing loan-by-loan information on credit extended by credit institutions to companies and other legal entities, and it is conceived primarily as a common granular analytical credit database, shared between the Eurosystem members and comprising input data from all Member States whose currency is the euro; AnaCredit is open to non-euro Member States. However, in order to join AnaCredit, the non-euro Member States must meet a series of requirements set out by the European Central Bank. This article focuses on the legal challenges regarding the lack compatibility between these mandatory preconditions established by the European Central Bank, on the one hand, and the European Union primary law, on the other hand.