How the Central Credit Register Works

At the Central Bank of Bosnia and Herzegovina, the Central Credit Register initially functioned for legal entities, i.e., for all those subject to the assignment of a JIB, a unique identification number. Subsequently, the Register of Natural Persons, i.e., all persons with a JMB, was established, so we can talk, starting from January 1, 2007, about the CENTRAL CREDIT REGISTER, which consists of two parts, CCR for legal entities and CCR for natural persons, reports the BH news agency Patria.

The CCR includes several categories of credit institutions, according to which the register is designed, namely:

- Commercial banks
- Leasing organizations
- Microcredit organizations
- Savings and credit organizations
- Insurance organizations
- Other (individual cases that do not belong to any of the listed groups)

The CCR for legal entities covers the following categories of debt:

- Loans (within this category, in addition to "classic" loans, commission loans, revolving loans, financial and operational leasing, and specific credit transactions such as factoring and forfeiting are recorded separately)
- Letters of credit, with a special note on whether they are covered or uncovered letters of credit
- Guarantees, with a special note on whether they are performance or payment guarantees
- Other debts (currently, only framework loans are entered within this category)

In the CCR for citizens, in addition to the previously listed ones, there is an additional category of debt:

- Card operations (data on credit and charge cards are available)

It is important to emphasize that data on guarantors for all categories of debt also exist.

Within these categories, in addition to basic client data, the following important information exists: activity code, date of debt, amount of debt, currency of the debt, due date, outstanding debt amount, amount of overdue unpaid principal and interest, category into which the debt is classified according to risk (A, B, C, D, or E category)...

The primary goal of the CCR is to provide quality information to commercial banks and, in the future, to other financial organizations, based on which they can make quality business decisions. The second goal is to provide quality data to banking agencies and the Central Bank for their, primarily, macroeconomic analyses.

Institutions involved in lending and submitting data to the CCR can access the Register exclusively with the client's written consent. In that case, they have two reports available: a Report on the client's current debts and a Report on the client's repaid debts, which is available five years after the debt has been settled.

Institutions that submit data to the Register are responsible for the accuracy and timeliness of the Register.

All clients (legal and natural persons), if they suspect that someone has accessed their data without authorization, will receive a report from the Central Bank on who (institution name, and name and surname of the authorized person) and when (exact date and time) accessed their data.