Regulatory Alerts2009-07-16
Ordinance No. 22 of the BNB of 16 July 2009 on the Central Credit Register
The Bulgarian National Bank issued Ordinance No. 22 to regulate the operation, scope, and procedures of the Central Credit Register, which consolidates credit liability data for banks, financial institutions, and other regulated entities. The ordinance mandates that participating institutions submit electronic credit data within strict deadlines and establishes the requirements for registration, data correction, and exclusion from the system. It further defines the identification codes for clients, the calculation of debt amounts, and the specific obligations of institutions regarding data accuracy and personal data protection.
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