Assessment Methodology for the General Principles for Credit Reporting

The Assessment Methodology for General Principles for Credit Reporting contains the assessment methodology used by the International Committee on Credit Reporting (ICCR) for the 2011 publication, General Principles for Credit Reporting (GPCR).

The main purpose of the Assessment Methodology (AM) is to provide guidance through a structured framework to assessors on how to conduct assessments of observance against the GPCR. The AM is primarily intended for external assessors at the international level, in particular the international financial institutions.

Context

In May 2009 an international task force coordinated by The World Bank with support from the Bank for International Settlement was created with the ultimate goal of producing international standards for credit reporting. The task force comprised representatives from central banks and other financial and data privacy regulators, from multilateral organizations involved in credit reporting and from credit reporting service providers, represented through their associations. As a first result of such work, the General Principles for Credit Reporting were published in September 2011. They establishes an internationally agreed framework for credit reporting systems including credit registries, credit bureaus and commercial credit reporting companies.

Since then, the international task force has been transformed into the International Committee on Credit Reporting and is working in promoting and facilitating observance and implementation of the standards by providing additional information and guidance. The current report is the first outcome of this follow-up work.