Customer Notices Central Credit Register Reporting - Ireland
Notice: Central Credit Register Reporting - Ireland
Notice to inform Irish resident clients that information on certain credit applications or loans with Credit Suisse AG, Dublin Branch will be reported to the Irish Central Credit Register.
Central Credit Register Information: Credit Suisse AG, Dublin Branch
If you are an Irish resident client legal entity with a credit application or credit agreement with Credit Suisse AG, Dublin Branch, you may come into scope of reporting to the Irish Central Credit Register. The purpose of this notice is to inform you of your rights and duties under the Credit Reporting Act, 2013 (as amended from time to time) and to inform you that we will send information on your credit application or loans to the Central Credit Register.
What is the Central Credit Register?
The Irish Credit Reporting Act 2013 (as amended from time to time ) (the "Act") provides that the Central Bank of Ireland must set up, operate and maintain a national mandatory database of credit information called the Central Credit Register that will, on request, provide:
- a borrower with an individual credit report detailing their credit arrangements;
- a lender with comprehensive information to help with credit assessments; and
- the Central Bank of Ireland with better insights into national trends in the provision of credit.
What information will be held on the Central Credit Register?
Credit Suisse AG, Dublin Branch has a legal obligation under the Act to submit identification information and credit information to the Central Credit Register. For corporate/company loans, identification information includes:
- Company name;
- Identification Code, such as tax reference number;
- Amount of loan;
- Type of loan.
We will submit credit information each month about your loans. The Central Credit Register needs this information to make sure it accurately matches your loans, including loans that you may have with other lenders. Producing a full and accurate credit report is one of the main aims of the Central Credit Register.
Your loan information will be stored securely on the Central Credit Register where it will be used to create your credit report. The Central Credit Register will not calculate a score or grade for your credit report, nor will it indicate if you are eligible for credit. Information will be kept on the Central Credit Register for five years after your credit facility is paid off.
Who can access my credit report?
Lenders may only access your credit report:
- when considering an application for a new loan;
- if you ask to change the terms of a loan; or
- if they are reviewing a loan in arrears or if you have exceeded the limit on an overdraft or credit card.
Employers, landlords, or any other person or entity cannot access your credit report without your written consent.
When your credit report becomes available, you will have the right to:
- request your credit report (the first report in each year is free);
- insert a 200 word explanatory statement on your report;
- apply to have your information amended if you feel that it is inaccurate, incomplete or out of date;
- make a report to the Central Credit Register if you reasonably believe that someone has, is or is about to impersonate you.
You can find more details of the full information held on the Central Credit Register or request your credit report from the following website: www.centralcreditregister.ie.
Where can I find more information about the Central Credit Register?
The Central Credit Register is operated and maintained by the Central Bank of Ireland. A Central Credit Register Factsheet prepared by the Central Bank of Ireland can be found at the below website.
Further information is available from the Central Bank of Ireland as follows:
If you have any questions about any of your credit facilities with us and the information that we must report to the Central Credit Register, please contact you relationship manager or email us at firstname.lastname@example.org.