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Corporate credit data exchange system launched in Slovenia

Xinhua, January 3, 2017 Adjust font size:

An electronic system for the exchange of data on credit ratings of individuals and businesses would become operational in Slovenia on Tuesday as part of the Central Credit Register that the EU demanded, local media reported.

The establishment of the Central Credit Register is part of activities in the European banking area to enable the creation of a single database on bank loans in the eurozone in line with the European Commission's efforts.

Apart from the SISBON system for the exchange of data on the credit rating of individuals, which was set up a year ago, the new system SISBIZ launched on Tuesday does the same for data on corporate credit ratings, according to the Slovenian Press Agency.

The system is available via the website of Banka Slovenije, Slovenia's central bank, which was tasked with setting up the Central Credit Register under a corresponding law that took effect on Dec.10 last year, said the report.

The centralized database of borrowing by individuals and businesses is being established to improve credit risk assessment and management, encourage responsible lending and sustainable borrowing, and prevent excessive indebtedness of individuals and businesses. Endit