Credit Reporting Update


Author: Orla O’Connor and Robert Cain

On 11 February 2016, the Central Bank published a Feedback Statement on its April 2015 Consultation on the introduction of a Central Credit Register (the Register) under the Credit Reporting Act 2013 (the Act).  This Briefing gives an update on the status of the Register, and the Central Bank’s plans to phase in credit reporting.


The purpose of the Act is to establish the Register (to be managed by the Central Bank) which will hold information about credit applications, credit agreements and the parties to those agreements, and oblige lenders to report certain information on those applications and agreements.

The Act came into operation on 27 January 2014, but the Register is not yet up and running and the various regulations required under the Act have yet to be published. Now that the Central Bank has engaged a third party service provider to assist with the operational aspects of developing the Register, implementation is expected to progress quickly.

Read the full briefing here.


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