Credit Reporting systems provide rapid access to standardized information on the past performance (positive and negative) of borrowers (including both firm and consumer records). CRSs are an important element of the financial infrastructure. Until recently, CRSs had received only limited attention by policy makers, but this situation is changing due to advances in computer and telecommunications technologies, movement towards a risk-based supervision approach and increasing attention to access and financial integration issues. In addition, decision tools, such as credit scoring, have also increased the value of credit histories and strengthened the incentives that banks have to share their credit data. The Finance Group has recently started an initiative, The Western Hemisphere Credit Reporting Initiative (WHCRI), in partnership with CEMLA (Centro de Estudios Monetarios Latinoamericanos), aimed at modernizing the credit information infrastructure. The WHCRI will strengthen and enhance CRSs in LAC, contributing to the development of sound, competitive and modern financial markets in participating countries. Further details, methodologies used for the assessments and descriptive reports ("orange books") of credit reporting systems in each of the countries assessed are available at www.whcri.org . Publications Credit Reporting and Financial Information Infrastructure in Colombia: An Action Plan (Margaret Miller and Mario Guadamillas - May, 2006) - Adobe Acrobat pdf file (0.17 MB)
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