] BIC to LEl mapping table Factsheet o

Z 1NN

(L 1 \

SWIFT @

\A_L_//

AN

1. Introduction SWIFT is a global member-owned cooperative and the world’s leading provider of secure financial messaging services. SWIFT is committed to providing actionable global ID and reference data services and products, like the business identifier code (BIC), to global market participants, including regulators and the financial services industry to uniquely identify, classify and describe entities and financial instruments. SWIFT is the registration authority for the ISO 9362 (BIC) standard appointed by ISO. In this role, SWIFT receives BIC registration requests, assigns a BIC, and publishes the related BIC Data Record as defined in and in accordance with the requirements set out in ISO 9362. The BIC is an international standard for identification of institutions within the financial services industry. BICs are used in automated processing. They identify a financial institution or a non-financial institution. The Global Legal Entity Identifier Foundation (GLEIF) is a not-for-profit organization created to support the implementation and use of the Legal Entity Identifier (LEI). GLEIF manages a network of partners, the Local Operating Units, to provide trusted services and open, reliable data for unique legal entity identification worldwide. The Legal Entity Identifier (LEI) is a 20-digit, alpha-numeric code based on the ISO 17442 standard developed by ISO. It connects to key reference information that enables clear and unique identification of legal entities participating in financial transactions. In this context, GLEIF and SWIFT are publishing a BIC-to-LEl mapping reference file, which will be updated on a monthly basis and made publically available. The file is built upon a mapping process established by SWIFT and certified by GLEIF. The purpose of this factsheet is to describe the reference data involved, the analysis applied to map the BICs to the LEls, and the ongoing update process.
2. Reference Data The SWIFT BIC Directory is the source for the BIC and BIC reference data. Additional information on this data source including field definitions can be found here. The GLEIF Concatenated File is the source for the LEIs and the legal entity reference data. Additional information on the GLEIF Concatenated Files and the Common Data File formats can be found here. The BIC-to-LEI mapping table does not include historical BIC/LEI pairs, stand-alone unmapped BICs and LEls, nor the listing of daily or monthly change

s. These can be obtained here. The following table describes the critical fields considered for mapping. Public Use Author: GLEIF and SWIFT | Version: Final 1.3 | 2023-03-23 Page 2 of 4

] ) @ &

Table 1 - Critical Fields Considered for Mapping =5 1 S il Comments Legal Type LE (legal entity) or FB Registration Status LEls with Registration (foreign branch) and Status of ANNULLED or

INACTIVE status. DUPLICATE are excluded

Institution The institution name Legal Name The LEI reference data Name is not always the Other Entity Names or includes the legal name as legal name; it can Transliterated Other well as other names and a also refer to business Entity Names transliterated name given or operational the legal name includes names. non-latin characters. If Only latin characters available, “other entity are permitted in this names” in English will be field. used. e, | code of the country Other Address Country 3. Analysis In October 2017, there were around 120,000 BIC codes in the BIC Directory, 35,000 of which qualify as "legal entities" and 6,400 as foreign branches. Hence, approximately 41,000 BICs initially qualify for mapping as these legal entity types also qualify for LEI registration. All other BIC codes have been assigned to entities such as bank branches trading desks, departments, or test and development systems or represent SWIFT network addresses and, therefore, no mapping to LEl is applicable. As of October 2017, around 560,000 active LEls have been issued. After automated review by SWIFT, reconciling differences between the critical fields considered for mapping (see Table 1) requires manual review. A sampling demonstrates the following: ¢ The BIC is not always accompanied with the legal name of the entity; often commercial names or even historical names (names before a merger) are kept on purpose so as not to disrupt the payment flow after mergers and acquisitions. In order to map such BICs correctly to the LEls, the linking process requires a manual analysis of the entity’s history. Transliteration standards differ between SWIFT and the Global LEI System. The inclusion of special characters in legal names and addresses requires manual review by SWIFT. 4. On-going update process This section describes what changes (events) to the underlying datasets trigger update to the mapping discussed in the section above. Public Use Author: GLEIF and SWIFT | Version: Final 1.3 | 2023-03-23 Page 3 of 4

Z 1NN (T 1Y\ SWIFT @ 1L/ AN Table 2: The change to an LEI or BIC (event) and the consequent update to the BIC/LEI pair [Bvent |Update A new BIC or LEl is issued. The BIC or LEl is considered for mapping. In a BIC/LEI pair the BIC became inactive. The BIC/LEI pair is removed. . If a Successor LEl is present, the BIC is re- In a BIC/LEI pair the LEI became ANNULLED or . B ” matched with the “Successor LEI”. The DUPLICATE. . . previous BIC/LEI pair is removed. If a Successor LEl is present, the BIC is matched with the “Successor LEI”. The previous BIC/LEI pair is preserved for 2 years and will be removed after. In a BIC/LEI pair the LEI became RETIRED or If a Successor LEl is not present, the BIC is not MERGED. mapped to another LEl and the BIC/LEI pair is preserved for 2 years. If in a BIC/LEI pair the BIC merges to another BIC, then SWIFT investigates the impact to the pair. In a BIC/LEI pair any of the BIC or LEI data The BIC/LEI pair is reviewed to determine if fields considered as equivalent mapping (see | the match is still applicable, and is removed if Table 1) change. not applicable anymore. Users of the BIC-to-LEl mapping reference file may challenge individual BIC/LEI pairs via GLEIF's data challenge facility available on gleif.org in 2018. The GLEIF data challenge facility will provide any user of a BIC-to-LEl mapping reference file with the opportunity to substantiate doubts regarding individual BIC/LEI pairs. Challenging several BIC/LEI pairs requires entering one challenge per record. Further details will be made available on the GLEIF website in 2018. General questions on the BIC-to-LEl mapping table can be sent to GLEIF at info@gleif.org. 5. File Specifications The file is published in comma-separated format (csv) contained in a zip file. It contains all BIC-LEI pairs, i.e.is a “full” file. No “delta” file is made available. The file does not contain BICs that do not have corresponding LEls nor LEls without corresponding BICs. The file contains the following data: Public Use Author: GLEIF and SWIFT | Version: Final 1.3 | 2023-03-23 Page 4 of 4