Independent Evidence on Labelled-Bond Disclosure
Disclosure regimes assume documents stay available. XFID measures whether they actually do — and preserves a verifiable, content-addressed record of every framework, review and report, market-wide.
The Evidence: Disclosure Erosion Is Measurable
Our study Deleting the Receipts tested 2,216 disclosure-document URLs for bonds still outstanding: 23% were no longer accessible at their published locations, affecting an estimated $672 billion in principal. Inaccessibility jumps sharply at the four-year mark — the corporate website refresh cycle, not the bond's life, sets disclosure's lifespan.
This is directly relevant where rules require availability: the EU Green Bond Regulation (2023/2631) mandates that factsheets and external reviews remain freely available until bond maturity; the UK FCA's anti-greenwashing rule requires claims to remain substantiable; Canada's Competition Act now reverses the burden of proof on environmental claims.
Live Market Coverage
Counts are live from the registry. The full dataset behind them is
freely downloadable (CC BY 4.0, DOI
10.5281/zenodo.21297903) — verify everything yourself.
Audit-Grade by Construction
Content-Addressed Records
Every document page shows SHA-256 fingerprints of the original file and its canonical content. Any copy — from an issuer, an underwriter, a filing — can be checked against the registry record without trusting us.
Source-URL Monitoring
Each document displays whether its source URL is currently reachable, dead, or access-restricted, with the last-checked date — accessibility failures under "freely available" obligations become observable per document, not just in aggregate.
Version History & Silent Revisions
Documents are re-retrieved over time; every version is recorded with its own hashes, and semantic changes between versions are summarised. Post-publication edits leave a trail.
EU GBS, Specifically
Pre- and post-issuance reviews and EuGB factsheets are tracked as a distinct
regulated document type (EUGBS_REVIEW), linked to ESMA-registered
reviewers — browse the current EuGB record.
Use the Evidence
The data is open. For supervisory briefings, methodology detail, or custom analysis, talk to us.