The legal entity identifier: The value of the unique counterparty ID

New research undertaken by McKinsey & Company and the Global Legal Entity Identifier Foundation (GLEIF) estimates that broader, global adoption of legal entity identifiers (LEIs) could yield annual savings of over $150 million within the investment banking industry and up to $500 million for banks in the issuance of letters of credit. These findings form part of a white paper that examines the potential use cases of the LEI in streamlining legal entity identification.