Information on credit relationships

When you apply for a loan, such as a mortgage or personal loan, the bank or intermediary ensures that you will repay it on time. They will ask you some questions about your financial situation and check whether you have other loans and if you are paying your instalments punctually. This is personal, confidential information, so you have every right to ask: where does it come from? From the registers of loans granted by banks and other intermediaries: Banca d'Italia's Central Credit Register (Centrale dei rischi - CR) and the Credit Information Systems (Sistemi informativi creditizi - SIC). Let's see what they are for, how they can benefit you, and how they work.

What the CR and SIC are for

With their information, the CCR and SIC make it easier for banks to assess whether the loan applicant can repay the loan. This evaluation is a legal obligation but, above all, a necessity: if loans are not repaid, banks incur losses that could jeopardise their stability.

How the CR and SIC can be useful to you

The CR and some SIC also record favourable information, such as timely payments and full repayment of loans, not only negative data like late payments or defaults. This benefits you: favourable information increases the likelihood of your new loan application being approved, as it shows your reliability. It is like a good CV when applying for a job. This is called credit reference: it represents your reputation with banks and financial intermediaries and reflects your conduct in financing relationships. For this reason, we recommend that you always check that the information recorded about you in the registers is accurate. We will explain later how to do this.

How the Central credit register works

The CCR is a public register, managed by a public institution, Banca d'Italia. All banks and intermediaries must report to the CCR whenever the conditions require it.

Each month, every bank must send the CCR information about the loans its customers are repaying and the guarantees given or received. For each loan, they must provide personal details of the borrower, the amount lent, and the regularity of repayments. The information recorded in any given month remains accessible for 36 months after registration.

Not all loans are recorded, however. Banks report information on loans with regular repayments only if the total amount you still owe exceeds €30,000.

There is also a €30,000 reporting threshold for guarantees, applying both when the bank guarantees on your behalf or you guarantee for someone else's loan.

The reporting threshold is €250 if the borrower is in serious difficulty paying instalments. Such loans are classified as 'non-performing'.

Who can see your CR information? Only the bank to which you apply for a loan can access your CCR data, and solely to decide whether to grant the loan. These data are confidential and cannot be shared with others. However, you can access your CCR information at any time by submitting a free request to Banca d'Italia via the dedicated Online Services website. The procedure is simple and guided. Alternatively, you can complete an online form and send it by post, certified email (PEC), or deliver it in person to a Bank of Italy branch.

What if you find incorrect information? You can request corrections from the bank that submitted the data. You can also report the issue to Banca d'Italia by submitting a complaint through the Online Services website; while Banca d'Italia cannot directly change the data, it will ask the bank to verify it.

How credit information systems work (Sistemi informativi creditizi – SIC)

SIC are loan registers consulted by intermediaries when assessing whether to grant credit. Unlike the CR, SIC are managed by private entities, associations, or other bodies, and intermediaries are free to join or not (joining the CR is mandatory). Formerly known as “private credit registers,” there are four SIC in Italy: Assilea, Consorzio Tutela Credito, Crif, and Experian.

Only those who participate in the SIC and the individuals concerned can access the information. Each participating bank sends monthly data on loan applications received and loans granted. SIC may include both favourable and unfavourable information, like the CR, or only unfavourable information. Data remain registered for a predefined period; for example, information on unpaid instalments stays on file for 36 months.

SIC must comply with a code of conduct protecting the rights of individuals reported and the confidentiality of the information. They must respect the right of those reported to obtain the corrections requested. The code specifies what data can be collected - such as personal details, loan amounts, and payment history - and how as well as how long data can be kept, and how to inform reported individuals. The Monitoring Body, overseen by the Data Protection Authority, ensures compliance with the code.

You can access your information in a SIC and request deletion or correction of inaccurate data by contacting your lender or the SIC directly. Data changes can also be ordered by the Data Protection Authority.

If you believe a SIC has treated you unfairly, you can file a complaint with the Monitoring Body or the Data Protection Authority following the procedure described in their websites. In such cases, Banca d'Italia cannot intervene, as it is not responsible for data managed by these private bodies.