The Central Bank has published a Feedback Statement on responses to their proposed regulations to introduce a Central Credit Register (CRR), as envisaged by the Credit Reporting Act 2013. The Central Bank will now pass regulations to establish the Register which will include details on loans with asset finance houses, banks, credit unions, local authorities and money lenders. These institutions and individuals will be required to report loans of or in excess of €500 to the CRR. In addition, the CRR must be consulted by lenders considering credit applications for €2,000 or more. The CRR will be introduced on a phased basis, with the initial phase commencing on 30 September 2016 which will include banks, credit unions and finance houses. Lenders are required to have reported new and existing credit agreements (back dated to 30 September 2016) by 31 March 2017. Under the new regulations lenders will be required to check the CRR as part of its lending process from the end of December 2017. Later phases of the implementation relate to business credit information and the credit arrangements of local authorities and moneylenders.