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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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Increasing Access to Credit through Reforming Secured Transactions in the MENA RegionThis paper provides a comparative
 summary of secured transactions systems related to the use
 of movable property as collateral in the MENA region vis a
 vis international practices in countries with modern secured
 transactions systems. The paper sets out the importance of
 introducing reforms in the area of secured transactions with
 the objective of increasing access to credit for businesses,
 particularly SMEs. The MENA region clearly lags behind all
 other regions in the introduction of secured transactions
 reforms. The paper summarizes many of the weaknesses common
 across the region. The two main critical areas that need
 urgent reforms are the creation of modern secured
 transactions laws and electronic movable collateral
 registries, and the need to improve enforcement mechanisms
 for security interests in movable property.