Where a reportable credit agreement
is entered on or after 1 February 2025, and
a guarantee is entered
into in respect of that credit
agreement on or after 1 February
2025, the relevant credit information provider
(CIP) will be required to report
data in relation to both
the guarantee and
the guarantor from that date onwards to
the Central Credit Register (CCR), operated
by the Central Bank of Ireland.
This requirement will apply whether the guarantee is
an ‘all sums due' guarantee, or a
more limited form of guarantee.
Reporting to the Central Credit Register
For in-scope guarantees, the CIP will need to report information
in respect of both the guarantor and the guarantee. If the
guarantor isn't an existing customer of the CIP, the CIP must
create a unique customer number for them to enable reporting to
take place. When reporting information in respect of the guarantor,
the CIP must identify their role as that of guarantor.
