The Credit Register is a state information system managed by Latvijas Banka.
The operation of the Credit Register is governed by the Law on Credit Register and Latvijas Banka's "Regulation for the Credit Register" and the "Regulation for Electronic Information Exchange with Latvijas Banka".
A Credit Register participant is an economic operator providing financial services in Latvia associated with credit risks or taking over credit claims in Latvia arising from the provision of financial services associated with credit risks, where it is one of the following economic operators:
- a credit institution registered in Latvia and equivalent economic operator registered in another country that has opened a branch in Latvia;
- a commercial company registered in Latvia and having close links with the credit institution registered in Latvia, as defined by the Law on Credit Institutions, or an equivalent economic operator registered in another country;
- an economic operator registered in another country and having close links with the credit institution registered in Latvia, as defined by the Law on Credit Institutions, or an equivalent economic operator registered in another country that has opened a branch in Latvia;
- a credit union registered in Latvia;
- an economic operator registered in Latvia and entitled to make insurance and equivalent economic operator registered in another country that has opened a branch in Latvia;
- a state capital company, registered in Latvia, established and operating as a joint stock company and fulfilling a special task – implementing state development and aid programmes.
Credit Register participant with restricted status (hereinafter, a restricted Credit Register participant) is an economic operator that has lost a Credit Register participant's status and has entered data on the customer's obligations or customer guarantor's obligations in the Credit Register, where such obligations have not been terminated or the rights and obligations or credit claims arising from the customer agreement or customer guarantor's agreement have not been transferred to other person.
In order to initiate the exchange of information in the Credit Register, the Credit Register participant shall perform the following duties:
1) sign an agreement on electronic signing. It is necessary to conclude a single agreement for all types of information exchange with Latvijas Banka, including information exchange within the framework of the Credit Register, for submission of statistical reports and within the payment systems framework;
2) submit information to Latvijas Banka on outstanding liabilities on the date of the receipt of the status of a Credit Register participant (it is necessary for Latvijas Banka to calculate the fee for using the Credit Register in accordance with Latvijas Banka's Regulation for the Credit Register);
3) take measures to access the Credit Register system – register IP addresses and at least two supervisors who will carry out managing measures (registration, cancellation, renewal and change of access rights of the users of advanced security systems, including the Credit Register, file exchange service user registration and cancellation and the maintenance of their IP addresses from which the participant logs into the advanced security system and file exchange service). IP addresses shall be registered with the Security System of Latvijas Banka or submitted to Latvijas Banka as a written application for the registration of IP addresses (Appendix 1 to the "Regulation for Electronic Information Exchange with Latvijas Banka"). In order to register a supervisor, a written application for the registration of a supervisor (Appendix 2 to the "Regulation for Electronic Information Exchange with Latvijas Banka ") shall be submitted to Latvijas Banka.
The Credit Register participants may exchange messages in the Credit Register interactively, in file format or in the form of web services.
Data can be submitted interactively online via the Credit Register website. In file format, data can be provided by sending each file individually (one by one) using the Credit Register website or by sending multiple files simultaneously using the file exchange service. Web services are designed to make requests about a person or person's obligations via participant applications. Requests only can be made via web services.
For the user to interact with the Credit Register, the user workstation shall meet certain requirements.
Monthly fee for using the Credit Register
Credit Register participants and Credit Register participants with restricted status shall pay Latvijas Banka a monthly fee for using the Credit Register. The monthly fee for using the Credit Register is determined at the end of the calendar half-year, in line with the actual outstanding customer obligations entered in the Credit Register.
The monthly fee for using the Credit Register is as follows:
|Actual outstanding amount of customer obligations of a Credit Register participant or a restricted Credit Register participant (in euro)||Monthly fee for using the Credit Register (in euro)|
|0.01 - 42 686.16||7.11|
|42 686.17 - 71 143.59||14.23|
|71 143.60 - 142 287.19||21.34|
|142 287.20 - 1 422 871.81||28.46|
|1 422 871.82 - 14 228 718.11||42.69|
|14 228 718.12 - 71 143 590.54||128.06|
|71 143 590.55 - 142 287 181.07||170.74|
|142 287 181.08 - 711 435 905.32||398.40|
|711 435 905.33 -1 422 871 810.63||711.44|
|above 1 422 871 810.63||825.27|