The National Bank presents a draft rule on the establishment and use of a credit register. The project aims to facilitate the efficient performance of supervisory functions and lightening credit reporting burden for lending organizations.  

World Bank was involved in the process of creating a credit registry form. General types of data included in the credit registry covers:

• Consumer identification data
• Consumer last updated financial data
• Credit commitment details
• Credit commitment maintenance data
• Information on refinanced loans
• Investment information
• Information on rejected credit applications
• Information on closed loans during the reporting month

The purpose of this rule is to facilitate the process of creating and using a credit registry database. To reduce risks, it identifies measures related to the secure sharing, processing and storage of data. The rule also sets out the rights and responsibilities of the parties involved in the process.

To reduce risks, it identifies measures, which are safe for data sharing, processing and storage. The rule also establishes the processes involved in the rights and obligations of the parties.

At the initial stage, only commercial banks must submit a credit register. Data collection started in December 2020. In the first half of 2021, the plan is to improve the quality of the credit registry data in the shortest possible time to use it for supervisory measures and the fulfillment of the rights and duties defined by the mandate of the National Bank.

The National Bank expects remarks and comments from stakeholders by May 7, 2021 on the following e-mail address: registry@nbg.gov.ge. The Credit Registry project is available at the following link: https://www.nbg.gov.ge/index.php?m=696