Legal Entity Identifier: What Else Do You Need to Know?

18 Pages Posted: 8 Nov 2011

See all articles by Linda F. Powell

Linda F. Powell

Board of Governors of the Federal Reserve System

Mark Montoya

Federal Deposit Insurance Corporation

Elena Shuvalov

Financial Industry Regulatory Authority

Multiple version iconThere are 2 versions of this paper

Date Written: June 1, 2011

Abstract

The passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act sparked discussion of creating a systematic code that uniquely identifies an entity. This code is commonly referred to as a legal entity identifier (LEI). The information that is collected to accompany and describe the LEI will play an important role in enhancing the usefulness of the LEI. This paper explores the information (referred to as reference data) commonly used in datasets that describe entities and evaluates the usefulness of reference data elements for uniquely identifying an entity and for monitoring systemic risk in the financial industry.

Keywords: Reference data, legal entity identifier

Suggested Citation

Powell, Linda F. and Montoya, Mark and Shuvalov, Elena, Legal Entity Identifier: What Else Do You Need to Know? (June 1, 2011). FEDS Working Paper No. 2011-31. Available at SSRN: https://ssrn.com/abstract=1956664 or http://dx.doi.org/10.2139/ssrn.1956664

Linda F. Powell (Contact Author)

Board of Governors of the Federal Reserve System ( email )

20th Street and Constitution Avenue NW
Washington, DC 20551
United States

Mark Montoya

Federal Deposit Insurance Corporation ( email )

550 17th Street NW
Washington, DC 20429
United States

Elena Shuvalov

Financial Industry Regulatory Authority ( email )

Washington, DC
United States

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