|Topics and Issues|
In December 2020, the Association of Consumer Credit Information Suppliers (ACCIS), an associaiton of European credit reporting agencies, published a white paper on the complementarity of public and private credit reporting in Europe to promote responsible lending. ACCIS explains
that different European countries make credit data available in different ways. Whilst some rely entirely on private credit bureaus (PCBs), a very small number rely entirely on public credit registers (PCRs). There are also countries where both PCBs and PCRs coexist. Countries with more comprehensive credit data and more sophisticated products are those where PCRs and PCBs operate in a stable and complementary way. Countries should, therefore, choose policies that ensure complementarity between PCBs and PCRs. Conversely, countries should discard policies that unbalance the complementarity between PCBs and PCRs and make it unsustainable for PCBs to operate. The white paper highlights policies that can be implemented to ensure PCBs can operate sustainably and in a way that increases availability of comprehensive credit information thereby promoting responsible lending.