Background
The Government gave a commitment as part of the EU/IMF Programme of Financial Support for Ireland to develop a legal framework that would facilitate the collection and centralisation of financial information on loans. The Credit Reporting Act 2013 was framed from the recommendations of the Report of the Inter-Agency Working Group on Credit Histories, which recommended the establishment of a central credit register to resolve weaknesses identified in various reports published subsequent to the banking crisis.
The Central Credit Register is a new secure system for collecting personal and credit information on loans of €500 or more. It is owned and operated by the Central Bank of Ireland, under the Credit Reporting Act 2013.
The Central Bank owns the information held on the Central Credit Register and is a data controller under the Data Protection Acts.
From 30 June 2017 and each month after that lenders, including banks, credit unions, and any other lender that provides consumer loans for €500 and above, will submit personal and credit information on those loans to the Central Credit Register. Loans include credit cards, mortgages, overdrafts, and personal loans. Click here for full information on what is included on the Central Credit Register.
Information submitted by lenders to the Central Credit Register will be used to create individual credit reports. A credit report can help lenders when it comes to making decisions about loans and loan applications.
The Central Register does not score or grade credit reports.
The Central Credit Register does not decide if a loan is approved or not
the lender makes that decision.
Click here to see who can get a credit report.
Lenders including banks, credit unions, and any other lender that provides consumer loans of €500 or more, will submit personal and credit information on loans existing on 30 June 2017 to the Central Credit Register. This snapshot includes information such as of number of overdue payments if any, and amount outstanding at that time. This snapshot will be sent at the end of every month thereafter.
It is expected that credit reports will be available in early 2018. This website will be updated with the exact date of when credit reports will become available.
After 30 March 2018 licensed moneylenders and local authorities will start submitting information to the Central Credit Register.
Information on business loans will be submitted to Central Credit Register at that time as well.