Friday, September 24, 2010
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RISK CENTRAL C / O THE BANK OF ITALY
Via XX Settembre n.97 / E, 00187 ROMA Tel
06/47921
Data
positive cash loans or signature, personal or real guarantees to third parties exceeding € 75,000 as at the reporting date. Negative data
: loans and receivables carried at loss for an amount exceeding € 250.
The Bank of Italy is entrusted with the service of centralization of credit risks. All banks and financial intermediaries are required, at the request of the Bank of Italy and in the manner specified by them, to inform their exposure towards their assigned names and at this link.
are exempt from participation in the service of financial intermediaries for which the business of consumer credit accounts for more than 50% of the funding.
Similarly, the Bank of Italy provides monthly to each person required to give notice (banks and financial intermediaries) will have surveyed a total summary of the risks to the name of each borrower by the same signal, and the names attached.
If the borrowers want to know the detail of the reports produced on its behalf by each intermediary shall submit an application for a branch of the Bank of Italy which provides a prospectus containing the required information together with an information sheet that explains the purpose and operation of the Central Credit Register.
position detection is done on a monthly basis in the hands of each name by aggregating census reports of risk (exposure) provided by reporting resulting last working day of the month.
The reporting agents (banks and financial intermediaries) must submit monthly surveys by the 25th of next month while the Bank of Italy usually makes the information available about 40 days after the end of the month.
The information provided to the reporting agents (banks and financial intermediaries) in the absence of specific guidance of these concerns the last 36 monthly observations for the parameters of the first information (names not reported on new concessions), while the information provided to borrowers, always in the absence of specific guidance of these concerns the last 12 monthly observations.
In any event, we should keep in mind that if the bank and / or 'question (borrowers) require, you can have surveys of previous periods dating back to the early 90's.
All requests to the first information is stored and integrated in the database related to the subject. This means that the bank or intermediary Financial information that makes a title search on a particular subject is aware of all its previous requests submitted by other institutions. Finally
the Bank of Italy as a public non-profit entity does not require consent by the parties for the processing of data and thus reporting agents (banks and financial intermediaries) as required by law to provide to the Bank of Italy figures for the customers, are also exempt from the requirement to obtain the consent of the parties concerned. It shows that you can not ask for the cancellation of the historicity of reported risk (trend exposure over time) but only if the correction of inaccuracies.
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