Legal Entity Identifier: What Else Do You Need to Know?

Abstract

NOTE: Staff working papers in the Finance and Economics Discussion Series (FEDS) are preliminary materials circulated to stimulate discussion and critical comment. The analysis and conclusions set forth are those of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors. References in publications to FEDS (other than acknowledgment) should be cleared with the author(s) to protect the tentative character of these papers.

The Global Legal Entity Identifier System: How Can It Deliver?

“…(Powell, 2011) refers to the surprisingly large number of US banks with identical names: no less than 14 legally separated US banks all called City National Bank. 14 (FSB, 2012a) refers to the wide number of different naming conventions for many institutions.15 One of our interviewees referred to the example of Stichting in Dutch, Stiftung in German, the term that could be translated as the equivalent of a UK 'charitable trust'.…”