How can leasing companies prepare for BECRIS & CAP?

Since January 2022, lease companies active on the Belgian market must report their client and contract data not only to the Central Point of Contact (CAP/PCC) but also towards the newly operational “Corporate Credit Register1” (I.e., part of the Belgian Extended Credit Risk Information System or BECRIS). 

Both registers allow regulators to collect data – in much higher detail than before – as set out in the European AnaCredit (analytical credit datasets) Regulation (EU/2016/867) and the Belgian Programme Law of 20 December 2020. The goal of these granular datasets is quite distinct. The CCR focusses on the financial agent’s assets, i.e. the financial leasing contracts to improve the European Central Bank’s statistical reporting and monitor the impact of its macro-prudential decisions. The CPC on the other hand aims to combat national tax fraud by focusing on the combined assets of a private customer or corporate client.  

The inclusion of leasing companies with the scope of BECRIS, increased the regulatory burden on these companies.  Despite not always being equipped with a full-scale compliance and IT department as within e.g. the banking industry, leasing companies are nonetheless expected to: 

  • Collect all relevant records from their systems in extensive detail on a weekly basis, while following the supervisor’s strict templates. 
  • Solve the backlog dating back to the 31st of December 2020 for BECRIS and as far as 2014 for CAP. 
  • Deal with the technical implications linked to these reporting frameworks 

Our solution 

To save lease companies valuable time, our BECRIS and CAP solutions were designed with three basic steps in mind: 

  1. b.fast 

The b.rx platform houses a powerful ingestion process that can draw in your data in an accurate, complete, and seamless process. By combining our regulatory expertise and our agility to onboard new clients, we can in no time setup the BECRIS & CAP reporting flows for leasing companies. 

  1. b.right 

Our platform comes equipped with all validation rules used by the supervisor, to ensure our users do not waste countless hours resubmitting the same report. In case of data quality issues, b.rx will quickly outline the causes of certain errors and allows users to correct the data prior to its submission Furthermore, the b.rx platform will manage the identification of any change compared to previously reported data communicate these towards the different registers.  

  1. b.fine and not fined 

Thanks to our user-friendly platform with built-in automated workflows, our users are notified when a report must be submitted and thus won’t miss any deadline again.  

Today, many of our Lease Companies opt for Managed Services and thus relying on b.fine for their BECRIS and CAP submissions. Through our managed services, you’ll gain peace of mind related to your regulatory reporting submissions.

Wanto to learn more about how we support leasing companies?

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