The LEI in numbers: Over two million LEIs in Q1 2022
The global LEI system reached a new milestone in LEI adoption and provides more transparency in the global marketplace
The Global LEI Foundation (GLEIF) is proud of its ongoing transparency initiatives. In particular, its open approach to providing unrestricted access to the latest LEI data from around the world through the LEI System’s quarterly annual reports, which are made available to the public free of charge. With “LEI in Numbers”, GLEIF aims to highlight key data from the latest report, explain trends and showcase the successes of the global LEI rollout.
The latest report, which covers the first quarter of 2022, shows that more than 65,000 new LEIs were issued globally in the first three months of the year. The total number of LEIs issued increased by 3.3% and global adoption reached a new milestone: over two million active LEIs. This is a historic moment that reaffirms the maturity of the global LEI system and the value it provides to the global economy and all users of LEI data.
For a further summary of last quarter’s data, please see the infographic below with key statistics from Q1 2022.
So-called “competitive markets” refer to markets with more than 1,000 LEIs, based on the number of LEI issuers offering services in the respective country. The most competitive markets are those with the most LEI issuers per country and a similar market share, and conversely the least competitive markets.
In the first quarter, Iceland regained its position as the country with the highest LEI growth rate in the quarter, with an increase of 13.2%. It was closely followed by India (12.5%), Saudi Arabia (11.3%), China (7.9%) and Estonia (7.6%). This LEI adoption is due to strong competition between LEI issuers in Iceland and Estonia, as well as increasing regulatory requirements in India and China. In Saudi Arabia, an initiative by the LEI issuer Saudi Credit Bureau in cooperation with the Saudi Central Bank has led to success by encouraging financial sector players to obtain an LEI.
The overall renewal rate for Q1 2022 was 61.5%, slightly lower than the previous quarter (62.5%). Nevertheless, 63.8% of all LEIs were in good standing at the end of the quarter (last quarter: 64.7%).
Once again, Japan had the highest extension rate (91.9 %). This was followed by Luxembourg (87.9%), Finland (87.2%), Liechtenstein (84%) and India (79.8%). This proactive annual LEI renewal ensures that the Global LEI Index can continue to provide the most accurate and up-to-date data to create efficiency, transparency and trust in legal entity identification.
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