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General Principles for Credit ReportingFinancial infrastructure broadly defined comprises the underlying foundation for a country's financial system. It includes all institutions, information, technologies, rules and standards that enable financial intermediation. Poor financial infrastructure in many developing countries poses a considerable constraint upon financial institutions to expand their offering of financial services to underserved segments of the population and the economy. It also creates risks which can threaten the stability of the financial system as a whole. This report describes the nature of credit reporting elements which are crucial for understanding credit reporting and to ensuring that credit reporting systems are safe, efficient and reliable. It intends to provide an international agreed framework in the form of international standards for credit reporting systems' policy and oversight. The Principles for credit reporting are deliberately expressed in a general way to ensure that they can be useful in all countries and that they will be durable. These principles are not intended for use as a blueprint for the design or operation of any specific system, but rather suggest the key characteristics that should be satisfied by different systems and the infrastructure used to support them to achieve a stated common purpose, namely expanded access and coverage, fair conditions, and safe and efficient service for borrowers and lenders. Section two provides a brief overview of the market for credit information sharing and credit reporting activities and then analyzes in some detail the key considerations underlying credit reporting. Section three outlines the general principles and related roles. Section four proposes a framework for the effective oversight of credit reporting systems.
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Public Credit Registries as a Tool for Bank Regulation and SupervisionThis paper is about the importance of
 the information in Public Credit Registries (PCRs) for
 supporting and improving banking sector regulation and
 supervision, particularly in the light of the new approach
 embodied in Basel III. Against the backdrop of the financial
 crisis and the existence of information data gaps, the
 importance of complete, accurate and timely credit
 information in the financial system is evident. Both in
 normal times and during crises, authorities need a device
 that allows them to look at the universe of credits in a
 detailed and readily way. And more importantly, they need to
 develop tools that exploit as much as possible the
 information therein contained. PCR databases contain
 individual credit information on borrowers and their credits
 which makes it possible to implement advanced techniques
 that measure banks' credit risk exposure. It allows
 optimizing the prudential regulation ensuring that
 provisioning and capital requirements are properly
 calibrated to cover expected and unexpected losses
 respectively. It also permits validating banks'
 internal rating systems, performing stress tests and
 informing macroprudential surveillance. In this respect, it
 is envisioned that the existence of a PCR will be a key
 factor to enhance the supervision and regulation of the
 financial system. Furthermore, the extent, accuracy and
 availability of the information collected by the authorities
 will determine the usefulness of the PCR as part of their
 toolkit to monitor the potential vulnerabilities not only on
 a microprudential level, but also on a macroprudential one.
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SME Finance in Ethiopia : Addressing the Missing Middle ChallengeThis study starts with a brief analysis of which firms are the main net job creators in Ethiopia and then focuses on the financing constraints of Ethiopian Micro, Small and Medium Enterprises (MSMEs) as one of the key obstacles to job creation and growth. The study uses two demand-side and an ad-hoc supply side survey administered to 16 financial institutions. This survey allowed collecting data on the actual involvement of financial institutions with MSMEs, their perception of potential public policy approaches to enhance MSME access to finance and the adequateness of their current business models. 
 The combination of both demand-side and supply-side analysis allows to gain a full picture of MSME finance practices in Ethiopia by connecting information on firm experiences with the reporting of financial institutions on their business practices. While there was already anecdotal evidence that small firms were lacking proper access to finance in Ethiopia, the value added of this study is to provide accurate empirical evidence of the existence of a missing middle phenomenon.