Is Credit Passport made by analysts?
The Statistical Models which make the report are made by analysts, but not the final report. This is motivated by the fact that Credit Passport must be completely objective in its drafting.

What is the “PD” or “EDF”?
PD means Probability of Default, while EDF means Expected Default Frequency or probability of insolvency. They are acronyms that mean the same thing or the probability that a company fulfils its financial commitments over the twelve months following the survey.

What are the risk categories from “A ++” to “E”?
Categories increasingly indicate the risk relating to an enterprise. The categories are “mapped” to a probability of default.

How do I request the data on the Central Credit Register?
First of all, both natural and legal persons can request Central Credit Register data at one of the branches of Banca of Italy. The forms to request the certificate of incorporation of the CR are different depending on whether the applicant is a natural or legal person (See Modules).
Application form for physical persons;
Application form for legal entities.
The signatures on the forms should be as faithful as possible to those reported in the National Identity Document and the documents to be attached to the request:
– For individuals: a photocopy of identity card (front and back and valid in a clear and legible signature photo);
– For legal entities: a photocopy of identity card (front and back and valid, with clear pictures and legible signature) of the legal representative.
=Central Credit can be obtained from any branch of the Bank of Italy and can be done by:
– Handing in the form and documentation in person;
– By sending the form and the documents by fax, mail or via the PEC Certified Mail, which is the only channel available for electronic submission.
If you want your business profile on the Central Credit Register to be sent by post, please contact your nearest branch (see the list of the Bank of Italy branches of competence).
If you want to collect it in person or appoint a delegate entity, send the request to the branch to where you want to take the withdrawal of the certificate of incorporation. To delegate a third party, do not forget to deliver, at the time of withdrawal, (for legal persons, this is shown at the end of paragraph) a photocopy of the Identity Card and the Tax Code of the person delegating. It should, therefore, be noted that it doesn’t matter where you live, if you are in Rome, but, for convenience, I prefer to use an address in Milan which I can safely refer to the latter branch.
Proxy form for legal entities
For the withdrawal of the title search at a Bank of Italy branch or to receive them by e-mail certified, the waiting times are approximately 7-10 days; if you send the certificate of incorporation of the CR by post, the wait is an average of 15 days.
The module allows you to choose between some very interesting options:
– Require the last 12 months of detection, or even visure reported at lower or higher periods (from our information; however you cannot go beyond 1995). Keep in mind that, usually, the banks want to see at least the last 12 months and about it is over this period that they judge us; But know that, sometimes, they go further back (36 months maximum by law);
– Require additional information about any guarantors and the related guarantees;
– Request your business profile Central Credit Bank of Italy in paper format or on CD (files in “PDF”).

How are Central Data Risks provided?
The company must request the data directly to the Central Credit Risks sending the Central Request Form (individuals) or Form of Request Risks Central Bank of Italy (legal persons). You should also read the Circular 139 dell’11-02-’91 “Central Credit Instructions for intermediaries”.

According to the Privacy Code, do you require the consent of the interested parties for the processing of the data of the Central Risks?
Not always. Intermediaries, the Bank of Italy, the criminal justice and other supervisory authorities on intermediaries cannot claim it.

Who is the owner, the manager and those in charge of data processing of the Central Credit Register in accordance with the Privacy Act?
The owner is the Bank of Italy (Organization Service, Via Nazionale 91, 00184 Rome). The person responsible is the Head of Service Surveys and Processing Statistics (Bank of Italy, wide Guido Carli n. 1, 00044 Frascati – RM). The processors are the employees who work on the Central Credit Register data in the Processing Statistics and Surveys Service and other structures of the Bank of Italy.

Does being reported to the Central Credit Register automatically mean being a “bad payer”?
No. The alert only indicates that the subject has a debt with or has received a guarantee that exceeds the threshold of 30,000 Euros from a financial intermediary which participates in the Central Risk.

What is “suffering”?
There is talk of suffering when the customer is evaluated in a state of insolvency (i.e. irreversibly unable to settle its debt) although this has not been proven in court. The classification as non-performing is the result of evaluating the overall financial situation of the client by the bank or financial intermediary. Banks and financial intermediaries must inform, in writing, the customer and any co-obligors (e.g. guarantors) the first time that the report is “suffering.”

Can the reporting of “suffering” also automatically arise from a simple customer delay in payments to the intermediary
No. The delay in payments is not a sufficient condition for reporting “suffering”, which can only arise from an assessment of the overall financial situation of the client by the intermediary.

When will they stop being a subject of the Central Risks reports?
The financial intermediary is no longer required to report a person to the Central Credit Register when its total debt falls below the threshold of 30,000 Euro or when the loan is repaid. But the historical information contained in the Risk is not cleared from the Central Credit Register archives and can be accessed by brokers who subscribe to them, albeit with certain limitations.

Over what time period can brokers consult reports to the Central Credit Register?
Financial intermediaries may consult the Central Credit Register for information to the maximum of the last 36 months. For example, if a bank or a financial company asks for the 9 July, 2010 data of a customer who would like to grant credit, they will get the data referring to the 36 monthly accounting dates ranging from June 30, 2007 to May 31, 2010 (last date available).

How long is it until the payment of a debt results in the Central Credit Register?
The intermediary must take account of the Central Credit Register payment of a debt in the reporting of relevant risks to the month in which the debt was paid. For example, if the payment is made on May 15, it will be recorded in the report on the accounting date of 31 May, which the bank or the finance company is required to carry out by 25 June. The information which refers to the date of May 31 is visible for financial and private intermediaries around the beginning of July.

What if the data in the Central Credit Register are in error?
The financial intermediaries are responsible for the accuracy of reports to the Central Credit Register. They must correct any errors and transmit corrections to the Bank of Italy. This registers them in its archives and immediately communicates electronically to all intermediaries who have received information about those affected by corrections. Financial intermediaries who apply for “first information” of a potential client receive the updated data at the time of the request. Whoever requests the data in question, in addition to updated data also receives the corrections that have been made over time.

Can you take data deletion from the Central Credit Register to the Bank of Italy?
Whoever deems that the Central Credit information in their name is inaccurate, can request to correct it directly to the intermediary which described it, not the Bank of Italy. If the Bank of Italy reports possible errors, intermediaries are asked to verify the information as submitted and correct.

Does the information contained in the Central Credit Register provide a detailed picture of financing that a person has received from banks and finance companies?
No. The Central Credit Register notes the information sent by banks and financial intermediaries for loans granted to individual customers, but grouped, for each customer, in predetermined items.

Can you delegate another person to submit the request to the door of access to the data of the Central Risks?
Yes, but documentation must be submitted attesting to the relationship between the applicant and the entity to which the data relate.

Can you still be listed in the Central Credit Register even though the condition has been “cured”?
Yes, because the messages remain visible for 36 months.
This does not result in writing to the Central Credit Register. My bank tells me that writing has appeared in a Central list of bad payers.
What does it mean? In Italy there are more centralised detection systems of risk, but they are of a private nature and, therefore, not managed by the Bank of Italy. They are called “credit information systems” (SIC), and their operation is governed by a code of ethics and good conduct for information systems managed by private entities with regard to consumer credit, reliability and timeliness of payments (in the Official Journal, 23 December, 2004, n. 300) issued pursuant to art. 117 of the Italian Privacy Code (Legislative Decree no. 196/2003).

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