New CCR procedures
The Banco de España Central Credit Register (CCR) is a database that includes information on the loans, credits (direct risk) and guarantees (indirect risk) that each credit institution has with its customers.
When we apply for a loan, the bank is obliged to assess our solvency and to analyse the actual ability we have to repay the money lent. To do this banks, with our knowledge, request that the CCR provide information on loans and credits already entered into with other institutions.
In taking this step it is sought to avoid customer over-indebtedness and to ensure banks’ solvency.
The CCR updated its means of functioning last January, adopting the amendments introduced by Ministerial Order ETD/699/2020. The aim of these amendments is to improve financial information so that decisions to grant loans are in line with the customer’s profile.
The aforementioned Order provides, inter alia, that:
- The CCR shall provide information on persons whose cumulative risk exceeds €1,000 (this threshold previously stood at €9,000).
- Payment and electronic money institutions – including those operating under the freedom to provide services – that engage in the granting of credit shall report to the CCR.
The Banco de España has no competencies over firms that record individual solvency or keep bad debt lists. If your data have been included on the files of any of these latter firms without your consent, you should contact the Spanish Data Protection Agency.