Page 250 - Special Topic Session (STS) - Volume 3

STS 543 Luís T. D. et al.
Figure 1 – Rationalization of credit data reports to the Banco de Portugal

In order to improve the performance of the Bank’s tasks related to
monetary policy-making, risk management, statistical compilation, supervision
and financial stability, the new CCR covers more than 200 attributes. This
means that, when a loan is eligible to be reported to the CCR, the participant
institutions have to submit information on the instrument, the debtor(s), the
protection/guarantees and the accounting and risk information. Moreover, to
meet a need of the financial intermediaries, the CCR will also deal with daily
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data on relevant credit events, thus allowing for a better evaluation of the
credit risk of the borrowers and enabling the Bank to monitor the credit
evolution within the financial system with a much smaller time lag.
Institutions do not need to report any reference data on resident legal and
natural persons. For the identification of resident borrowers (and guarantors)
it is sufficient that its taxpayer number is reported to the Bank. The enrichment
of the database with reference data on these entities is done by the Bank
through its business register. This procedure ensures that different participant
institutions do not report to the Bank different classifications (e.g., by sector
or by size) for the same borrower.

The system is fully prepared to deal with daily data but this module will only go live after an
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amendment in the legal act regulating the CCR that is under approval process by the
Portuguese government.
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