Communication CBFA_2009_12 Credit Register

rue du Congrès 12-14 | 1000 Bruxelles t +32 2 220 53 42| f +32 2 220 54 93 | www.cbfa.be Communication CBFA_2009_12 of 6 March 2009 Credit Register Scope:
Credit institutions.
Summary/Objectives:
This communication aims to remind credit institutions of the reporting deadlines vis-à-vis the Credit Register.

Madam,
Sir,

The Royal Decree of 12 December 1994 concerning the centralization of information on credit risks, adopted in implementation of the Law of 22 March 1993 on the status and supervision of credit institutions, provides in its Article 3, paragraph 1, 4° a) that the communication to the Credit Register of the National Bank of Belgium (NB) of data relating to credits granted must be carried out during the period of eight calendar days following the expiration of each month.

We draw your attention to the fact that compliance with this provision allows, after the centralization of the required data and their dissemination by the NB, an evaluation of the credit risks of counterparties by the banking sector and by the Banking, Finance and Insurance Commission (CBFA) at a time as close as possible to the date on which their situations are recorded.

Furthermore, the NB can thus quickly obtain information on the credit granting activity to non-financial enterprises by credit institutions, information which proves particularly important in the context of the analysis of the economic situation of Belgium.

Therefore, pursuant to Article 93 of the Law of 22 March 1993, at the request of the NB, the CBFA orders you to implement all necessary means to carry out your communications to the Credit Register within the shortest possible time and at the latest eight days after the close of the month to which the credit data relate, as prescribed by the Royal Decree.

This communication is also addressed to the approved auditor(s) of your institution.

Please accept, Madam, Sir, the expression of my distinguished sentiments.

The President,
Jean-Paul SERVAIS.