International Committee on Credit Reporting

Overview 

The International Committee on Credit Reporting (ICCR) is the only recognized standard setting body actively engaged in fostering the adoption of credit information sharing best practices that promote that facilitates responsible access to credit and supports the stability of financial systems. On an ongoing basis, the Committee develops standards, principles, policy guidelines, best practices and notes that are designed to strengthen the policy, practices and regulatory oversight relating to credit information sharing and related activities.

The ICCR Committee was created in May 2009 following an international task force coordinated by The World Bank with    support from the Bank for International Settlement 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,    multilateral organizations and service providers represented by their associations.  The task force’s first product/output was the General Principles for Credit Reporting which were published in September 2011. Subsequently, the task force has been transformed into a more permanent structure, that is, the International Committee on Credit Reporting (ICCR). Since then, the Committee has issued various guidance to address changes in the evolving market including the following: 

• Key Principles for Effective Regulation and Supervision of Credit Reporting Service Providers (2022).

• Credit scoring approaches guidelines (2022). 

• Cybersecurity in Credit Reporting Guidelines (2022). 

• Treatment of Credit Data in Credit Information Systems in the context of the COVID-19 pandemic (2020).

• Guidance Note on the use of alternative data to enhance credit reporting (2018). 

The Committee has also produced various publications on credit reporting and promoting access to credit. Currently, the Committee is working on promoting and facilitating observance and implementation of the standards by providing additional information and guidance.  In addition it is engaged in among other the topics:

    i)    Regulatory implications of emerging innovations and new trends in credit information sharing,

    ii)   Collection and use of sex disaggregated data in credit reporting, 

    iii)   Credit reporting and scoring crises,

    iv)   Cross border information information sharing,

    v)    Open finance and cashflow underwriting. 

Governance and Founding Document

The Governance of the Committee comprises of the Plenary which is the highest decision-making body, the Secretariat, working groups and regional consultative groups.  The World Bank Chairs the Committee and houses the Secretariat. The Acting Chair of the Committee is Mr. Harish Natarajan, Manager, Financial Services, World Bank Group.

The 2019 Charter of the Committee outlines:

·         The Role and Responsibilities of the Committee

·         Legal Status: The Committee does not possess any formal supranational authority. Its decisions do not have legal force. Rather, the Committee relies on its members' commitments.

·         Membership

·         Organizational Structure

·         ICCR standards, principles, technical guidance notes, policy guides and best practices

·         Relationship with other International Financial Bodies

·         Public consultation process of draft Committee standards, guidelines and sound practices

·         Funding

The 2019 Operating Guidelines of the Committee represent good practices for internal administrative purposes and are designed at improving transparency and consistency of practice in the operational activities Committee.

Organizational Structure

The internal organizational structure of the Committee comprises:

a. The Plenary Body

b. Standing Working Groups

c. Working Parties

d. Regional Consultative Groups

e. The Chairpersonship

f. The Secretariat

Standards

1.       The General Principles for Credit Reporting (GPCR)  

The GPCR published in 2011, addresses the fundamental problem of information asymmetry between lenders and borrowers, which may lead to adverse selection, credit rationing and moral hazard. The principles define the minimum elements underlying a sound, efficient and effective credit reporting system which can support credit portfolio management and financial supervision. The GPs focus on: i) data accuracy, timeliness and sufficiency; iii) data security and efficiency; iii) service providers governance and risk management; iv) legal and regulatory environment; and v) cross-border data flows.  

The GPs are intended for policy makers, regulators, financial supervisors, data providers, credit reporting service providers, individuals and businesses and includes roles for these key players to facilitate implementation.   The GPs are deliberately expressed in a general way to ensure that they can be useful in all countries and flexible to cover different country circumstances.  The GPs are not intended as a blueprint for the design or operation of any specific system.

International Endorsement/ Acceptance: The Committee members including World Bank, Bank for International Settlement, the International Monetary Fund, some regional financial institutions (Arab Monetary Fund, CEMLA, European Bank for Reconstruction and Development, Inter-American Development Bank), several central banks and banking supervisors (Banco Central do Brasil, Banca D'Italia, Bank of Spain, Central Bank of the Republic of Turkey, Deutsche Bundesbank, Federal Reserve Bank of New York, People's Bank of China, Reserve Bank of India), other relevant national authorities, the European Commission, some industry associations; and data/consumer protection agencies participated in the drafting of the principles. In addition, the General Principles were subjected to an open consultation process, in 2011, before final publication.

International Application: The GPs are being used in the context of the Financial Sector Assessment Program (FSAP) and in the Insolvency and Creditor Rights (ICR) standards as a reference (no formal assessment). The GPs are also used in credit reporting diagnostic exercises that the World Bank conducts. In addition, some institutions are using the GPs for self-assessment.

2.      Assessment Methodology for the General Principles for Credit Reporting

The main purpose of the Assessment Methodology (AM) for credit reporting is to provide guidance to assessors, through a structured framework, on how to conduct assessments of observance of the GPCR. This AM is primarily intended for external assessors, in particular for the international financial institutions. The AM provides a roadmap for assessing country-level observance of the five general principles and related roles of credit reporting system participants, and of the recommendations for effective oversight of credit reporting systems.

Membership

• What constitutes membership?

The Committee’s membership is derived from financial sector standard setting bodies, international financial organizations, central banks and regulatory authorities, supra national authorities, credit registries, associations of private bureaus and other private sector organizations who are part of the credit reporting ecosystem.

The membership categories consist of Members, Associate Members and Observers. 

The criteria for each level of membership are as follows:

• How to become a member?

Admission into membership is consensus-based and considers the value proposition and relative importance of the prospective member to the credit information ecosystem. At its discretion, the Committee may invite additional bodies and organizations to become ICCR members or observers, or to contribute to Working Groups/Working Parties.

If you would like to be considered as a member, associate member or observer of the ICCR, please contact the Secretariat at iccrsecretariat@worldbankgroup.org.

List of member organizations:

There are currently 36 members including Central Banks and regulators from G20 countries, private sector service providers associations, BIS, IDB and WBG.  

Last Updated: Mar 03, 2026