CREDIT BUREAUS: FORMATION, PERFORMANCE EVALUATION AND WAYS OF IMPROVEMENT
Author(s): Gavrilova Eleonora Nikolaevna
Release: 2018-4 (27)
Keywords: Bureau of credit history, credit scoring, the borrower, the Bank, credit rating, credit risk
Annotation: Currently, credit bureaus in one form or another are operating almost all over the world. The majority of developed countries came to the conclusion that effective economic development is impossible without information openness and transparency, and the credit Bureau is the most important financial institution that allows to reduce the risks in the field of lending. The activities of the credit history Bureau are aimed at creating conditions that ensure the reduction of systemic risks in lending to commercial banks, as well as facilitating access of bona fide borrowers to credit resources. The relevance of the research topic is due to the fact that currently operating on the territory of the Russian Federation credit bureaus do not perform the above functions. Consequently, the activities of Russian credit bureaus require careful study, analysis and improvement. The purpose of this study is to consider the evolution of the formation and development of systems of accumulation and use of data on credit histories of citizens and enterprises for implementation in Russia; evaluation of the effectiveness of credit histories in terms of minimizing credit risks; formation of proposals for the development of the domestic Institute of credit histories. Methodology. In the work on the basis of synthesis of scientific knowledge formed qualitative proposals for the development and improvement of the national Institute of credit Bureau (BCI). The result of this study are formed proposals for the modernization of certain aspects – expanding the composition of traditional sources of data on potential borrowers, combining credit histories of borrowers, to provide banks with the opportunity to obtain more complete information about the debt burden of customers, the authority of the Central Bank to exclude BCI from the state register without a relevant decision of arbitration courts in identifying violations of the law, to determine their requirements for the quality of management and internal control in BCI, to suspend the reception of information in the presence of suspicions of the unreliability of the data sent, and also oblige BCI to submit financial documentation to the Bank of Russia. It is concluded that the efficiency of credit bureaus in Russia is negligible. There is an objective need to further develop the working conditions of the Institute of credit bureaus as an important aspect of the functioning of the market economy of Russia.
Bibliography: Gavrilova EL.NI. CREDIT BUREAUS: FORMATION, PERFORMANCE EVALUATION AND WAYS OF IMPROVEMENT // Economics and Management. – 2018. – № 4 (27). – С. 34-42. doi: 10.21777/2587-554X-2018-4-34-42