The Associations support the important work that the FSB has been doing related to global identifier standards such as the LEI. The Associations recognize the LEI's role as an internationally standardized identification number in improving the quality of financial data and in facilitating the assessment of systemic risks. The Associations therefore support a broader and more consistent implementation of the LEI across jurisdictions. Industry participants welcome the FSB’s proactive leadership in support of regulatory mandates for the LEI, in both FSB member and non-member regimes, to facilitate and accelerate the global harmonization of legal entity identification in reporting and other regulatory requirements. Further, the industry is encouraged by the use of the FSB Standing Committee on Standards Implementation to address implementation of the LEI and other important global data standards. The Associations are also hopeful the FSB will take a larger role in raising awareness and supporting additional areas where the LEI can be beneficial in other market processes.
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