Credit Information

NEWS

Credit Information Act may be introduced. The Indian government is reportedly expected to come out with a series of banking laws and regulations—including a Credit Information Companies (regulation) Act— as a precursor to a major consolidation exercise amongst public sector banks in the country. Tribune News Service, November 14, 2004.

Data sharing? Get borrowers' consent, says RBI. The Reserve Bank of India on Tuesday called upon banks to obtain consent from all their borrowers to establish an efficient credit information system. BS Banking Bureau, November 10, 2004.

Lending to Small and Medium-Sized Enterprises. Hong Kong's Commercial Credit Reference Agency, which starts operation on Monday, will provide an auditable source of information about the credit history of SMEs and make it easier for SMEs to obtain financing. The Government of the Hong Kong Special Administrative Region of the people’s Republic of China, October 28, 2004.

Free credit reports for everyone coming soon in the US. NBC 10, October 27, 2004.

Credit Information Bureau (India) Ltd (CIBIL) has database on 8 m borrowers. CIBIL now has a database of 8 million records of the credit history of individual consumers taken from various banks, financial institutions and non-banking finance companies. The Hindu Business Line, October 8, 2004. 

The legal infrastructure in Russia is developing quickly, making the sharing of credit data possible for the first time. Experian, and Interfax  have announced plans to work together  to establish a credit bureau for consumers and businesses in Russia. Interfax, September 21, 2004.

RECENT PUBLICATIONS

Improving Access to Credit for SMEs: An Empirical Analysis of the Viability of Pooled Data SME Credit Scoring Models in Brazil, Colombia & Mexico. By Margaret Miller and Dina Rojas,October2004. 

Building consumer awareness of the credit reporting process. This paper highlights the efforts being made in some of the world’s most mature credit markets to enhance consumers’ awareness and understanding of the credit granting process, arguing that the more consumers understand about credit reporting, the easier it becomes for lenders to grow their businesses. By Keith Gabriel, Credit Risk International, October 2004.

Sharing of Consumer Credit Data in the United Kingdom, the United States of America and Hong Kong: Comparison on sharing credit information among the countries. Legislative Council Secretariat - Hong Kong Special Administrative Region of the People's Republic of China, by Diana WONG, July 9, 2004.

EVENTS

Past:
Public Policy for Credit Reporting Systems: Strengthening Public – Private Dialogue and Partnership. This event, co-hosted by the People’s Bank of China and the World Bank, the relative roles to be assumed by public and private credit registries, the legal and normative foundations needed for safe and proper treatment of credit data, and innovative ways to reach consumers and credit providers with information about the benefits of credit information sharing. Beijing, China, September 28-30, 2004.

Fourth Consumer Credit Reporting World Conference. This event presented an opportunity for credit bureau executives to share best practices, industry knowledge, issues affecting countries and regions, and to discuss the role of credit bureaus around the globe. Organized by Huaxia International Business Credit Consulting Co., Ltd. in conjunction with the Consumer Data Industry Association - CDIA (US) and Association of Consumer Credit Information Suppliers - ACCIS (Europe).  Beijing, China, September 26-28, 2004.  

Credit Reporting Systems Worldwide. Seminar on Credit Reporting System and China’s Economy.  Organized by the People’s Bank of China and the World Bank.  Shanghai, China, May 18, 2004.

Conference On Credit Bureau Development In South Asia. The workshop focused on promoting the development of credit information systems in the region. Organized jointly by The World Bank, Central Bank, and Credit Information Bureau of Sri Lanka, May 10-11, 2004.