Circular RUNOR 1 - 169. Central de Información Crediticia

BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
COMUNICACIÓN "A" 2389 01/11/95
TO FINANCIAL ENTITIES:
Ref.: Circular RUNOR 1 - 169. Credit Information Center.

We address you to inform you that this Institution has adopted the following resolution:

1. Order the creation of the Registry of credit cards issued by non-financial entities under the "closed system" modality.
2. Order that credit card issuing companies, not constituted as financial entities but under the modality known as "closed system," must classify their users with the frequency and form established in Communication "A" 2216, Section II, of Annex I.
3. Order that, starting from January 1996, financial entities and credit card issuing companies of the "closed system" must supply monthly information regarding the classification of all their debtors according to what is regulated by Communication "A" 2216.
4. The information to be sent monthly will be: name, identification, main activity, total debt, debt without guarantees or preferred counter-guarantees, and the status of included debtors. With this information, a Credit Information Center will be formed, which will include the data indicated in the preceding point with the identification of the reporting entity.
5. The Central Bank will maintain the confidentiality of all information supplied to it. It will make available to all financial entities, credit card issuing companies of the "closed system," and companies specialized in credit risk monitoring, all information obtained regarding clients in categories 3, 4, and 5 of the debtor classification regime of Communication "A" 2216. Likewise, it will facilitate to the aforementioned users information about clients of the financial system who are classified in categories 1 and 2, but without individualizing the name of the entity that granted the credit, and only on the basis of individual requests.
6. The information that this Institution makes available to users is the exclusive responsibility of the entities that supplied it, regarding its truthfulness, and of those that receive it regarding any harmful use they might make of it.

We salute you very attentively.
BANCO CENTRAL DE LA REPÚBLICA ARGENTINA
Oscar A. del Río Conrado Harrington
Technical Manager of the General Manager of the Area of Financial Entities Information and Technical Analysis

WITH COPIES TO NON-FINANCIAL ENTITIES ISSUING CREDIT CARDS UNDER THE MODALITY OF "CLOSED SYSTEM".