Overview

The Central Credit Register (CCR) is a specialised system that collects, stores and compiles information on the exposure of each reporting institution (credit institutions - Romanian legal entities, Romanian branches of foreign credit institutions, non-bank financial institutions enlisted in the Special Register, Romanian branches of foreign financial institutions enlisted in the Special Register, as well as payment institutions and electronic money institutions, Romanian legal entities, which carry out lending activities related to the payment services provided in article 7 para. (1) letter d) and/or e) of Law no. 209/2019 on payment services and for amendment of some normative acts) in Romania to the borrowers benefiting from loans and/or commitments whose cumulated value is equal to or higher than the reporting threshold (lei 20,000), as well as information on card frauds perpetrated by cardholders.

The CCR database comprises four files:

1. Central Credit File (CCF), which is updated monthly with credit risk information reported by the reporting institutions;
2. Overdue Debt File (ODF), which is updated monthly with credit risk information from the CCF on violations of the repayment schedules over the past seven years at most;
3. Groups File (GF), which is updated monthly with information from the CCF on the groups of individuals and/or legal entities representing a single group of connected clients/single borrower;
4. Card Fraud File (CFF), which is updated online with information on card frauds committed by cardholders, as reported by the reporting institutions.

The users of the information in the CCR database are the reporting institutions, the National Bank of Romania and the creditors from Member States according to provisions of NBR Regulation no.2/2012, republished. 

The exchange of credit risk information is performed electronically, via the Interbank Communication Network.

The reporting institutions' reports shall include:

• the identification data of the borrowers to whom the reporting institution incurs an exposure equal to or higher than the reporting threshold (lei 20,000): name, identification code, ownership, legal form, activity, institutional sector, occupational status, legal status, debt service-to-income ratio, affiliation to a group of borrowers; Legal Entity Identifier - LEI code - for identification of legal entity borrowers; ECL annual probability of default (ECL annual PD).
• information on all loans and commitments to the borrower: type of loan, maturity, type and value of collateral, the value of the foreclosed real estate collateral, proceeds from the sale of the foreclosed real estate collateral, debt service, granting date and maturity date, loan currency, amount granted, drawn and undrawn amounts at the time of reporting, overdue amount, off-balance sheet loans – principal amount, joint loans/commitments with other borrowers affiliated to the same group, loan status, probability of default, non-performing exposure, unlikeliness to pay, default, impaired loans, monthly instalment (total amount, principal amount, interest amount), annualised interest rate, annual percentage rate of charge, overdue interest, penalty interest amount, loan-to-value, restructuring, risk-weighted asset amount, credit conversion factor (CCF) for off-balance sheet exposures, exposure at default,  allowances for expected losses/impairment allowances, type of allowances for expected losses/type of impairment allowances, impairment stage, classification class, the entity to which the loan were sold (resident/non-resident, type and name of entity), the type of entity from which the respective loan was redeemed (resident/non-resident), residential property (if the borrower lives/does not live in the house purchased with the respective loan), debt discharge stages and the debt discharge process closing; type of interest rate, green loan, CERS loans, type of loan amortisation, debt-to-income ratio at origination (DTI-O), real estate location, type of real estate according to its usage, current loan-to-value ratio (LTV-C), interest coverage ratio (ICR), loan-service-to-income ratio at origination (LSTI-O), loan-to-income ratio at origination (LTI-O), loan-to-rent ratio at origination (LTR-O), first time buyer, location of commercial real estate used as collateral, type of commercial real estate according to its destination, debt service coverage ratio (DSCR), loan to cost ratio (LTC);
• information on groups of individuals and/or legal entities representing a group of connected clients/single borrower: group name, group code, group structure and disclosure of borrowers that have joint loans/commitments with other borrowers affiliated to the same group;
• information on card frauds committed by cardholders: cardholder identification data, card type, currency, date of finding the fraud, fraud amount.

Among the information presented above, the italicised data are requested by the National Bank of Romania for analytical reasons and are not included in the reports sent to the reporting entities.

The CCR disseminates the information to the reporting institutions via:

• monthly reports comprising information on all borrowers the reporting institution reported in a particular month, including all the information available in the CCR database on loans and commitments to the borrower from all reporting institutions, without disclosing the identity of the credit institution (overall risk statement);
• responses to online queries whereby reporting institutions may request two types of information: overall risk statement and overdue loan statement (for up to seven years).

Information on borrowers reported by reporting institutions is provided unconditionally, while information on clients that are potential borrowers is conditional on their prior consent.

Similar Central Credit Registers operate in many EU countries, such as Austria, Belgium, Bulgaria, the Czech Republic, France, Germany, Italy, Latvia, Lithuania, Portugal, Slovakia, Slovenia and Spain.