Update on the Central Credit Register

The Central Bank have now confirmed that the Central Credit Register (CCR) will be introduced on a phased basis. The initial phase will focus on consumer credit information as follows;

  • From 30 September 2016 onwards, the first set of lenders including banks, credit unions and finance houses, will begin submitting data to the CCR.
  • By 31 March 2017, the lenders in scope will have reported existing and new credit agreements back-dated to 30 September 2016.
  • Enquiries by lenders against the CCR data are planned to commence from 31 March 2017, when data quality has been assured.
  • It is anticipated that borrowers will also be able to request copies of their own credit reports from March 2017.
  • Lenders will be expected to enquire on the CCR before advancing credit from end-December 2017.

The second phase will focus on business credit information and is scheduled to become operational in late 2017.