Harmonisation of Credit Reporting Systems in Europe

Credit reporting - the collection of financial information on households and companies - is crucial for the sound functioning of credit markets in Europe.However, credit reporting systems and information collections are still not harmonised. Cross-border reporting is in different stages of development for different types of information and institutions. Whereas it is well-developed in the area of business reporting - the exchange of profiles on companies - is in its infancy for consumer reporting. Some public credit registers, on the other hand, are now members of the Memorandum of Understanding, an agreement on cross-border data exchange between seven European public registers.

Credit reporting has an impact on lending, banking competition and credit market performance. In addition, it can contribute to further integration of credit markets in Europe.

At this half-day expert roundtable at the European Credit Research Institute, we discuss the stage of harmonisation of credit reporting systems in Europe, the origins of fragmentation and possible policy solutions. We invited policymakers, industry officials, Central Banks and consumer advocates to discuss with us the latest developments.