The Central Bank of the Russian Federation received a qualified credit bureau “Russian Standard”
MOSCOW, 9 March. /TASS/. The Bank of Russia recognized the Russian Standard credit bureau as qualified. Increased requirements are imposed on the features of the bureau, in particular, on infrastructure, the press service of the Bank of Russia reports.
The “Bank of Russia” has decided to recognize the bureau of credit turnover as a limited liability company “Credit Bureau Russian Standard”. March 9, 2022,” the message reads.
The Central Bank clarified that a qualified credit bureau should cover information on the average monthly payments of individuals to calculate the debt burden of consumption. Also, there are increased requirements for a qualified credit manifestation bureau, in particular, for the infrastructure that allows obtaining indications for calculating the debt burden indicator on a time scale close to manifestation.
Currently, in the state register of bureaus of credit turnover of family organizations, including the United Credit Bureau (UCB), the National Bureau of Credit Turnovers (NBKI) and the bureau of credit turnover “Equifax”.
About qualified credit bureaus
In Russia, from January 1, 2021, it is expected by virtue of the law on the institution of qualified credit turnover bureaus (KBKI). The document provides that qualified bureaus should take into account information almost online to calculate the debt burden on a loan (the ratio of loan payment to income). Also, such bureaus assign ratings to citizens so that potential deductions can more accurately assess their creditworthiness. The methodology for calculating the debt burden and the general requirements for assigning ratings are determined by the Bank of Russia.