Regulatory Alerts2010-04-01
Memorandum of Understanding on the exchange of information among National Central Credit Registers
The European Central Bank issued this Memorandum of Understanding to establish a framework for the regular exchange of borrower indebtedness data among national central credit registers in 14 EU countries. The agreement mandates that central banks share information on borrowers with indebtedness exceeding €25,000 to enable reporting institutions to accurately assess credit risk in cross-border lending scenarios. It further defines strict protocols for data storage, confidentiality, and the handling of ad hoc requests while ensuring compliance with national data protection laws and professional secrecy obligations.
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