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Austrian Federal Economic Chamber, Division Bank and Insurance

We would like to state that the costs of implementing this project seem to be relatively high for so-called decentralised banking groups as every legal entity has to pay a fee for the LEI registration. Therefore it seems to be adequate to find more inexpensive solutions in this regard.
The timeframe for “other institutions” to obtain pre-LEI codes by 31 December 2014 (Title II, 4.) should be extended. 31 December 2015 as date of implementation seems to be more suitable for smaller institutions.
Dr. Franz Rudorfer