Established under Directive No. 14 by the Central Bank of Malta, in 2016, the Central Credit Register was built to maintain a list of all credit facilities issued by banks to individuals. The main objective of the register is to ensure a sound local credit market, enhancing the financial stability of credit institutions and consumer protection. The Central Credit Register processes data received by all the banks, to maintain an up-to-date credit report for each and every borrower exceeding a threshold for each bank.
WHO IS ELIGIBLE TO REPORT?
All local banks which issue credit facilities to customers are obliged to provide the Central Bank of Malta this data by the 20th calendar of the month. Submitted via Excel format, through an online portal submission, any accounts which exceed €5000 at the end of the previous month, must be reported and broken down to include customer personal information, facility balances, as well as collateral data against the facility.