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Central Credit Register – New definition of default

By the accounting date of January 2021, the Central Credit Register reporting has to follow the criteria of the non-performing exposures: “Unlikely To Pay” and “Non-Performing Loans”.

Following the Supervisory regulation (Circular No. 272 13th update, Circular No. 217 19th update and EBA guidelines on application of definition of default pursuant to article 178 of Regulation (UE) no. 575/2013), the intermediaries who provide a consolidated supervisory reporting has to adopt the same classification for the exposures to report to the Central Credit Register.

Regarding the individual supervisory reporting, the debtor reported by more companies of a banking or financial group has to be classified following the same non-performing classification.

According the Central Credit register regulation, the classification of the past-due will be following the repayment criteria established by the financial contract and therefore it will not be affected by the new thresolds changes.

In the possible interaction with clients, Bank of Italy highlights it is necessary to consider these details:

  1. the new definition of default has a limited impact on the Central Credit Register information shared with the participants intermediaries and used for theevaluations of the credit rating;
  2. in order to classify a customer exposure for the Central Credit Register, the intermediaries belonging to a banking and financial group have to consider all the available disclosure elements within the group (both negative and positive);
  3. there will be no one impact by the changes about the “materiality threshold”.

The Intermediaries has to check the communications to their clients are compliant with the details above.

These guidelines will be incorporated into the Circular No. 139/91.

Read or download here:

Communication of Bank of Italy regarding Central Credit Register, 28th December 2020


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