The Minister for Finance has published the Credit Reporting Bill 2012.  The Bill provides for the establishment and operation of a statutory Central Credit Register (CCR) system. Publication of the proposed legislation is one of the conditions of the EU/IMF Programme.

The Bill proposes establishment of a statutory CCR which would be operated by the Central Bank.  Credit providers will be required to provide a comprehensive range of credit information within specified formats and timelines.  They will also be required to make mandatory credit checks with the CCR for all credit applications above a monetary threshold.

The proposed legislation will provide for security and confidentiality of the information contained on the Register.  Included on the Register would be all credit lending information in relation to loans provided by the National Asset Management Agency and local authorities.