Expansion of Positive Credit Information Sharing

Description

The Credit Bureau in Romania is currently providing information based only on negative information on the borrowers. In the absence of positive information on credit histories, banks require from prospective borrowers more detailed personal and work histories, and a long work history as a minimum threshold.This is as laborious as it is ineffective as an indicator of the applicant’s future solvency.

Impact Drivers

• Public: To improve market infrastructure, credit quality, and expand lending opportunities.
• Private: To increase the access to credit as well as improve the quality of bank lending.

Economics

Assuming that 10% of the employees in Romania have temporary work contracts, banks could attract about 900 thousand persons as additional potential borrowers (based on 2004 data).

SPI Committee Involvement

A public-private endorsement could help overcome the resistance by some banks to provide positive information given the large public benefits of positive information sharing. Additional Information on SPI Committee.

Management

Steven Cornelius van Groningen	Project Owner (PO) , President Raiffeisen Bank Romania
Jianu Lazar	Project Manager (PM) ,Manager Raiffeisen Bank Romania
Serban Epure	Deputy Project Manager(DPM), General Manager Credit Bureau
Members
Doru Calitoiu	Deputy General Manager, Credit Bureau
Ana Costea	Head of Lending Department, Raiffeisen Bank Romania
Dragos Cabat	Chief Financial Analyst, OTP Bank Romania
Lucia Stefan	Team Leader, Raiffeisen Bank Romania
Daniela Barbu	Director, Bancpost
Angela Margarit	Expert, National Bank of Romania
Simona Sandru	Director, ANPDCP
Mihail Meiu	Director, ANPC

Terms of Reference

• TOR

Regulatory Impact Assessment

• Preliminary RIA
• The Value of Positive Information Sharing

SPI Committee Documents

• SPI Committee Expansion of Positive Credit Information Report - November 13, 2007
• SPI Committee Expansion of Positivi Credit Information Report - July 25, 2007

• Expansion of Positive Information Sharing- December 20, 2006

SPI Committee Enactment Correspondence

• Follow-up letter to Project Owners - January 10, 2007

• Implementation Information Letter- March 28, 2007

Technical Documents

• 1st SPI Romania NASDP Technical Letter- 17 November, 2007
• Legal and regulatory framework for credit reporting
• Expanding Access to Finance and Developing Economies
• Development and Credit Reporting Around the World

Seminar

• Preliminary Impact Assessment on the Expansion of Credit Bureau Services - November 14, 2007
• The Importance of Credit Bureaus - November 14, 2007
• How to complete credit information infrastructure through moral suasion and coalition building- October 15-16,2007
• The Value of Positive Info Sharing - May 24, 2007

Project Working Group Meeting Minutes

• Data Protection PWG Meeting - October 10, 2007
• Data Protection PWG Meeting - July 17, 2007
• Data Protection PWG Meeting- June 26, 2007
• Data Protection PWG Meeting- December 14, 2006
• Data Protection PWG Meeting- December 6, 2006
• Data Protection PWG Meeting- November 24, 2006
• Data Protection PWG Meeting- November 17, 2006
• Data Protection PWG Meeting- November 3, 2006
• Data Protection PWG Meeting - November 1, 2006

Press Coverage

• Article in Romanian on Positive Info Sharing