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ARTICLE · 24 OCTOBER 2019

Credit Reporting – Delay To Reporting Of Guarantor Data

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According to guidance issued by the Central Credit Register ("CCR"), information on guarantees provided in respect of loans which are in scope of Irish credit reporting requirements...

IrelandFinance and Banking
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Guarantor Data Not Reportable

According to guidance issued by the Central Credit Register ("CCR"), information on guarantees provided in respect of loans which are in scope of Irish credit reporting requirements ("Guarantor Data") was scheduled for submission to the CCR by 30 September 2019. The CCR has now indicated that Guarantor Data is not reportable from this date and that the commencement date for the reporting of Guarantor Data will be advised by the Central Bank of Ireland ("CBI") in due course.

Credit Reporting Regime

The Credit Reporting Act 2013 introduced the credit reporting regime in Ireland. Under the regime, lenders must report details of in-scope loans to the CCR. In-scope loan agreements and related application documents must include a prescribed form of credit reporting warning to borrowers. Lenders are also required to check a prospective borrower's existing exposure via the CCR in advance of extending in-scope credit of €2,000 or

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