1. Country Designations
What standards does LexisNexisRisk use when designating countries?
LexisNexisRisk uses ISO 3166 codes when assigning countries, thereby providing us with a consistent international standard.
2. Credit Ratings
What ratings do you use?
For more information about the specific ratings of each agency, please refer to the following link: https://bankersalmanac.lexisnexisrisk.com/resources/credit-rating-definitions/cid
Moody’s: Long Term Bank Deposits Rating / Short Term Deposit Rating
Standard & Poors: ICR Local Currency Long Term / Short Term Rating ICR
Fitch: International Long Term / Short Term Issuer Default Ratings
JCR: Long Term (Foreign Currency) Senior Debt / Short Term Debt Rating
Capital Intelligence: Foreign Currency Long Term / Short Term Ratings
What are the credit ratings based on?
The methodology is different for each Credit Rating agency. This is explained in detail on Bankers Almanac: https://bankersalmanac.lexisnexisrisk.com/resources/credit-rating-definitions/cid
Equally, at institution level, the names of the agencies are clickable and provide an explanation of the factors taken into account for the Long Term and Short Term ratings.
Why are there no ratings for an institution I am viewing on Bankers Almanac?
Credit ratings are provided directly from Moody’s, S&P, and Fitch by regular files which are updated directly into our database.
If there are no credit ratings visible on the website, we would advise that the bank is not rated in accordance with the ratings that we use.
3. Data Privacy (GDPR/SAR)
Please confirm LexisNexis Risk Solutions’ GDPR Compliance Policy for personal information.
Please be informed that you can view LexisNexis Risk Solution’s GDPR policies at the following location: https://risk.lexisnexis.com/group/privacy-policy
4. Data Update Methodology
How often is data updated on Bankers Almanac?
Please refer to our different Data methodologies available within the Resources section on Bankers Almanac for insight regarding our data sourcing and collection processes.
What checks are made before a bank is added to the database?
We only list banks which are licensed for deposit-taking by an internationally recognised financial services regulator.
We have a dedicated team that monitors regulator’s lists on an ongoing basis to ensure that any new banks or corporate actions are identified and confirmed with the regulator and that the information we include is updated accordingly.
Other entities may be present on Bankers Almanac but these may not be reviewed against a financial services regulator.
How can I update my bank’s data?
If you wish to provide an update to your own bank’s entry in Bankers Almanac, please contact dataenquiries@lexisnexisrisk.com. Our team will then review and support accordingly and where applicable, support with access to some of our self-serve updating tools.
Can I view data related to historical institutions?
As part of our methodology, when an institution ceases, the information displayed in Bankers Almanac is condensed to only display a snapshot of the corporate actions undertaken and archived Due Diligence documents. Any other previously available data is no longer displayed.
Who do I contact about my Bankers Almanac username/access?
Please contact our Product Support Team for further assistance: bankersalmanacsupport@lexisnexisrisk.com
What is the difference between a branch and a subsidiary?
A branch (either foreign or domestic) is part of the same legal entity and operates under the same bank license as the head office. It is a division of the organization operating locally.
By contrast a subsidiary is a separate legal entity which is either partially or wholly owned by the institution. For all institutions with a profile on Bankers Almanac, there is a section in their profile entitled ‘Subsidiaries’. Even if an entity is considered an affiliation or participation by the bank, this would appear listed under the Subsidiaries section within the profile.
There is information regarding Name of institution, Country, % Owned, Confirmed (when the information was last confirmed) and Source information.
5. Documents
Does Bankers Almanac Due Diligence include documents for institutions other than banks?
The purpose of Bankers Almanac Due Diligence is to provide the primary KYC information for correspondent banks. Other types of financial institutions may have documents in Bankers Almanac Due Diligence, either because they are part of an operating bank’s corporate structure, and the documents apply to these entities, or the financial institution has requested that their documents appear.
For further details please refer to our Data methodologies available within the Resources section on Bankers Almanac.
What Quality Checks are undertaken on Due Diligence Documents?
We maintain a strict quality control process regarding the documents that are submitted into Bankers Almanac Due Diligence. The checks carried out on the documents are determined by the document type. For more information please refer to Due Diligence Methodology available within the Resources section on Bankers Almanac.
Why is other information sometimes provided instead of physical documents?
We endeavour to obtain as much information as possible, however despite our efforts, should an institution decline to provide information or advise an alternative document should be referred to, this is reflected on Bankers Almanac accordingly. We will check this with the institution on an annual basis, should the institution’s preferences have changed.
Regarding Wolfsberg CBDDQ/FCCQs, if the document is available and suitable, a digitised version may be available.
What does ‘Document provided and maintained by another institution’ mean?
This can occur when a source institution (often a parent company or bank) advises that a document they have provided is applicable to other related institutions. These institutions are linked to the document available on the source institution’s due diligence report and the following text “Document provided and maintained by another institution” is displayed for transparency.
Why aren’t all KYC Documents available in English?
As per our methodology we attempt to source documents in English language, however if the bank is unable to supply this, we will accept documents in local language. Some banks supply an English version plus translated versions. Please note that we do not translate original documents supplied by banks into English language.
Why is there limited document coverage on Central Banks and Regulatory Authorities?
Central Banks and Regulatory Authorities often act in a supervisory capacity to banking institutions. There is an understanding that Central Banks/Regulatory Authorities may not require the same documents as other banks.
Why is there limited FATCA documentation for US Banks?
As per our understanding US banks do not require W8 FATCA documentation. For further information, we do not currently collect W9 FATCA documentation.
Do you include documents without signatures on Bankers Almanac?
Please refer to our Due Diligence Documents methodology available within the Resources section on Bankers Almanac.
What are Archived Documents on the Documents page on Bankers Almanac?
Where an institution has indicated that a document is no longer current, or has supplied a more recent document, the historical document is archived. This document is still available to view in the institution’s Due Diligence Report under the document archive section. We do not remove any historical documents, as we understand that these may have been used by our customers as part of their due diligence requirements.
Why do KYC documents in Bankers Almanac have a watermark?
The watermark is added to all KYC documents on Bankers Almanac, and this is automatically applied to the document once it passes our internal quality control checks.
Watermarking these documents aids with traceability and gives our customers an immediate indicator that the source of information is Bankers Almanac.
6. Ownership
Does Bankers Almanac include Ownership Data for institutions other than banks?
Bankers Almanac current product focus is financial counterparty KYC for correspondent Banks, and this is where we will focus our depth of Ownership data. Other types of institutions may have ownership data as they are part of a bank’s shareholder structure.
For further details please refer to our Data methodologies available within the Resources section on Bankers Almanac.
Why is 100% direct ownership information sometimes unavailable for a bank?
Please note that we endeavour to obtain as much information as possible on shareholders, however, information available will be output as provided by the institution.
On occasions, due to detailed breakdowns of shareholdings, decimal rounding’s provided may not quite total 100%.
7. Financials & Ranking
Where does Bankers Almanac obtain banks’ financial data from?
Financial data is produced in adherence to a defined spreading methodology based on an institution’s year-end financial report document. Institutions cannot update or provide this data by any other means. Further detail is outlined in the Financials methodology in Bankers Almanac.
Why isn’t the Financials Section updated for every bank on Bankers Almanac?
We have a dedicated team of analysts who produce the financials on Bankers Almanac in adherence to our spreading methodology based on an institution’s year-end financial report. As per our methodology, the financials are taken from the financial report document.
Please note that banks may have varying financial year-end dates and different timelines for preparing and publishing their financial reports. Additionally, some financial reports may not meet our criteria for inclusion in Bankers Almanac.
How are banks ranked on Bankers Almanac?
For information on our Bank Rankings methodology, please visit the following page https://bankersalmanac.lexisnexisrisk.com/resources/methodologies/financials-rankings