Who is responsible for providing the information?1
Financial intermediary institutions2 , credit management companies and financial services companies are responsible for providing monthly information to the Central Bank of Uruguay.
Financial intermediation institutions are:
- Investment banks
- Financial Houses
- External Financial Institutions
- Financial Intermediation Cooperatives
The institutions themselves are responsible for correctly showing the loans granted in the accounting records. Likewise, they are responsible for the accuracy and updating of information sent to the Credit Registry.
1- Source: RNRCSF Art. 1, 532, 635, 604.
2 - financial trusts or bank assets recovery funds, which acquired loans from financial intermediaries also report to the Credit Registry on a monthly basis, information on credits obtained.
What information does the Registry provide?3
Financial intermediation institutions, credit management companies and financial services companies must report on: a) identification of the debtor, b) if it is an individual or a legal entity, c) if the debtor is or is not a resident d) the activity sector of the debtor.
In addition, the institutions must provide the following information on their debtors:
I) the type of participation of the debtor - owner, co-signer or guarantor;
II) if the credit is valid or has been recorded as an overdue placement, credit in process or delinquent loan (based on days of payment delay), or if delinquency fees have been charged, contingency accounts and allowances;
III) currency denomination of the credit;
IV) destination of funds;
V) risk classification performed by the institution and, where appropriate,
VI) risk classification by a credit rating agency.
Today it is not necessary to inform debtors of smaller amounts4 when they are not part of an economic group or their debts are not recorded as credits in process, delinquent loans or if delinquency fees have been charged. However, as of information from July 2013 all debtors5
will be reported.
3- Source: Communication 2012/021
4- amounts not exceeding 0.01% of the basic regulatory capital for banks (as of May 31, 2012, approximately 30,800 Uruguayan pesos).
5-Source: Communication 2012/021, section 7.2