Information for reporting agents (credit institutions and leasing companies)
Through BECRIS (Belgian Credit Risk Information System), credit institutions and leasing companies have:
- the possibility to consult the Corporate Credit Register (CCR) before extending credit; various forms of consultation are possible: individual, grouped and specific portfolio information;
- an obligation to report to the CCR credit and leasing agreements they enter into.
Categories of reporting agents
The Act of 28 November 2021 on the organisation of a Corporate Credit Register clarifies the categories of lenders to which the reporting obligation applies (“reporting agents"):
- credit institutions established in Belgium and authorised by the National Bank of Belgium, in its capacity as the banking supervisor; this category includes both Belgian branches of foreign institutions and institutions incorporated under Belgian law;
- leasing companies (also referred to as “financial leasing companies”) established in Belgium and authorised by the Federal Public Service (FPS) for the Economy (for more information, see Agrément des entreprises pratiquant la location-financement).
Information to be reported
Reporting agents must submit to the Corporate Credit Register (CCR) information on the credit and leasing agreements they conclude with borrowers.
Specifically, the following information must be provided:
- the credit beneficiary (or beneficiaries): legal and/or natural persons;
- credit details: the type of instrument, the amount, the start date, etc.;
- additional information to allow better assessment of the risks, such as any possible defaults or protection (insurance or cover against adverse credit events).
The following need not be submitted to the CCR: information on consumer credit and mortgage loans extended to natural persons for private purposes. This type of data is recorded in the Individual Credit Register (ICR).
Reporting deadlines
Reporting agents must submit information to the CCR within a certain period of time:
- a new instrument: within 10 working days from the start date;
- an existing instrument: within 15 working days from the end of the month.
An overview of the reporting deadlines is provided in the table below.
| Dataset | New Instrument | Existing Instrument |
|---|---|---|
| Counterparty | 10 days | C |
| Instrument | C | |
| Counterparty-Instrument | C | |
| Protection | C | |
| Counterparty-Protection | C | |
| Financial data | 10 days | M |
| Counterparty default | M | |
| Counterparty risk | M | |
| Data relating to joint and several liability | M | |
| Instrument-Protection | M | |
| 10 days | Q | |
| Accounting information | Only for credit institutions and for “loan and deposit”-type instruments | |
Every new instrument must be reported within 10 working days from the date of its creation:
- C: A modification to an existing instrument (protection or counterparty) may be notified at any time but must be notified no later than 15 working days from the end of the reference period.
- M: Monthly notification within 15 working days from the end of the reference period.
- Q: Quarterly notification within 15 working days from the end of the reference period.
Specific information via Sharepoint
Reporting agents have access to an external SharePoint environment with more information on the CCR and on BECRIS (Belgian Credit Risk Information System). Reporting agents will find all necessary instructions and information on the required notifications. Access requires a password.
If you (in your capacity as a reporting agent) would like to access the SharePoint environment, please send an email to [email protected].
Various general and technical documents are made available via SharePoint to reporting agents:
- BECRIS_Manual_ReportingSpecification:
- Data on counterparties
- Instruments and financial data
- The grouping method (concept of the dataset)
- Reporting obligations (frequency, deadlines, etc.)
- Validation rules for data and declarations
- BECRIS_Manual_Data Entry
- Data entry manual
- BECRIS_DataModel_DeclarationRequirements
- Structure of the various datasets
- BECRIS_ConceptualDataModel_CollectionOnCredits
- Format and content of the data fields per dataset
- BECRIS_Manual_UserManagement
- Requesting certificates and access
- BECRIS_WebServicesTechnicalDocs
- XSDs for the creation and validation of XML files
More information
Reporting agents can find more information about the CCR on this webpage and in the legislation governing the CCR.
Sanctions
The CCR is intended to be a comprehensive and reliable source of credit information. Therefore, reporting agents (credit institutions and leasing companies) must meet minimum quality rules and data review requirements, as referred to in Articles 3 and 4 of the Act of 28 November 2021 on the organisation of a Corporate Credit Register.
The FPS Economy is responsible for identifying and investigating violations of the applicable legislation and its implementing decrees and regulations:
- For recurring violations or gross negligence, the National Bank of Belgium may decide to levy penalties of up to EUR 10,000 per day (Article 19 of the Act of 28 November 2021).
- Violations relating to breaches of statutory obligations regarding the protection of privacy and/or non-compliance with General Data Protection Regulation (GDPR) requirements may be punished by fines ranging from €26 to €1 million.