The Credit Register is a national information system managed by the Bank of Latvia. In the Credit Register the Bank of Latvia collects, accumulates and stores data on the customers and customers' guarantors of the Credit Register participants  and restricted Credit Register participants, their liabilities and performance thereof.

The Bank of Latvia stipulates the contents and scope of the data to be entered in the Credit Register. The Credit Register data are informative and do not serve as a proof of the customer's and customer guarantor's liabilities and existence or non-existence of their default.

As of 1 December 2012, the operation of the Credit Register is governed by the Law ''On Credit Register'', the Bank of Latvia "Regulation for the Credit Register" (issued pursuant to the Law ''On Credit Register'') and "Regulation for Electronic Information Exchange with the Bank of Latvia" (issued pursuant to the Law ''On Credit Register'' and the Law ''On the Bank of Latvia'').

The Credit Register was launched on 1 January 2008, when debtor information, accumulated at the Bank of Latvia Register of Debtors from 2 June 2003 to 31 December 2007, was automatically registered with the Credit Register.

The Credit Register has been developed in view of the "Report on the Developments of Consumer Price Inflation and Proposals for Its Reduction" submitted by the Ministry of Finance and supported by the Republic of Latvia Cabinet of Ministers' meeting on 6 March 2007.

On 1 January 2014 the Bank of Latvia converted the Credit Register general data on customer's obligations or customer guarantor's obligations in lats into euro, where such obligations had not been terminated by 1 January 2014 or where the rights and obligations or credit claims arising from the customer or customer guarantor's agreement had not been transferred to other person. Lats were converted into euro as per the exchange rate of 0.702804 lats per euro, subject to the rounding principles stipulated by Article 6(2) of the Law on the Procedure for Introducing the Euro.

A Credit Register participant and a Credit Register participant with a restricted status will remain liable for the following:

  • entry of the same Register data as stated in the relevant customer agreement or the relevant customer guarantor's agreement;
  • entry of the data in the Credit Register in compliance with statutory requirements;
  • submission of a Credit Register data request in compliance with statutory requirements.