Common use of Compliance framework Clause in Contracts

Compliance framework. This section will describe when reporting agents are not compliant and what implications this has, based on the ECB guidelines. This section will be elaborated once these guidelines are available from the ECB. The reporting agent is responsible for all of the data they submitted, or should have submitted to DNB. All data that DNB receives via other sources, like the counterparty reference data of Dutch counterparties from the national statistics institute CBS, is not the responsibility of the reporting agent. Any question that either DNB or ECB has on data received from the reporting agent is for the reporting agent to answer. Questions on data received from other sources are the responsibility of those sources and are not the responsibility of the reporting agent.

Compliance framework. ‌ This section will describe when reporting agents are not compliant and what implications this has, based on the ECB guidelines. This section will be elaborated once these guidelines are available from the ECB. The reporting agent is responsible for all of the data they submitted, or should have submitted to DNB. All data that DNB receives via other sources, like the counterparty reference data of Dutch counterparties from the national statistics institute CBS, is not the responsibility of the reporting agent. Any question that either DNB or ECB has on data received from the reporting agent is for the reporting agent to answer. Questions on data received from other sources are the responsibility of those sources and are not the responsibility of the reporting agent.