##cb task force on credit registers and of the joint stc / financial stability committee task force on analytical credit datasets, the escb has been developing the anacredit project, which will establish a eurosystem database comprising loan - by - loan data on credit granted by euro area financial institutions to legal entities. this will create the opportunity to answer some of the data gaps identified in the wake of the financial crisis, by generating clear and detailed information that will greatly assist monetary policy decision - making and help keep the financial system sound and transparent. moreover, anacredit will be based on harmonized concepts and definitions and on a complete coverage of ( at least ) all euro area member - states, thus ensuring more comparability and improving, in a significant way, the statistical information available at the eurosystem level. to this end, the escb has already taken several concrete steps to make this project a reality by september of 2018, of which the most important was arguably the publication, in may of 2016, of the regulation on the collection of granular credit and credit risk data ( or, put simply, the anacredit regulation ), which has set forth, inter alia, the scope, purpose, content and calendar of the future data collection. notwithstanding, the development of such a wide project has set several practical and strategic challenges to the escb. one of the most notable obstacles that this project has imposed is the development and management of adequate, timely and trustworthy reference data, that is, the information on the “ actors ” participating in the operations reported, given the high degree of heterogeneity across countries in the way legal entities are identified. to cope with such a daunting challenge, the escb decided to extend and upgrade an existing reference database : the register of institutions and affiliates database ( the riad ). that said, i am aware of the fact that this chain of events, albeit seemingly long, stays short of being an exhaustive list of the initiatives and actions that have been carried out in this context. it gives us, nevertheless, a general idea of the many efforts that have been devoted at eu level in exploring the synergies between statistics and supervisory data. a lot has certainly been done so far, but we are still taking the first steps in what appears to be a long but exciting journey. in this sense, the dynamic interaction between supervisory data needs and statistical reporting will be a challenging process. in what follows, i

asia ’ s insurance consumers. it will continue to play an important role in meeting the protection needs of the next generation of asia ’ s consumers. once again, my warmest congratulations to prudential on the opening of its new office. 1 the global record for a fastest insurance claim was set in december last year by renter ’ s insurance start - up lemonade ’ s artificial intelligence jim in the us, which settled a claim for the theft of a us $ 979 parka within 3 seconds. within that time, jim reviewed the claim, cross - referenced it with the policy, ran 18 fraud - detection algorithms, approved it, sent wiring instructions to the bank and notified the policyholder of the claim payment. the average claim payout in the us is about 30 – 45 days. 3 / 3 bis central bankers'speeches