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Central Bank will control the transfer of credit histories

July 12 2005

In a speech at a conference-seminar on "Banks in the exchange of credit histories," First Deputy Chairman Andrei Kozlov, the Bank of Russia reported that the Central Bank will supervise the execution of duties by banks to transfer information to credit bureaus.

In accordance with the law, from September 1, each commercial bank is obliged to choose a credit bureau , which will transmit information about borrowers, with their consent.
Also by September 1, commercial banks should be prepared and technical base for the exchange of information, according to RIA Novosti.

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