The Central Bank of the Republic of Kosovo (CBK) has approved the new Methodological Guideline for Reporting Data to the Kosovo Credit Registry (KCR) System, which aims to advance the way in which lending institutions report data to the KCR, which should be reported according to the format specified by the CBK.

Upon the implementation of the new Guideline, more detailed data will be provided regarding the solvency of borrowers, debt burden, loan costs, loan classification, purpose of loan use, collateral value, borrower gender, rejected and in-process applications, as well as updating of key borrower data by banks and other lending institutions in the KCR.

Reporting borrowers’ collateral to the CRK will include expanded information regarding the value recorded by banks and other lending institutions, market value, revalued value, and other elements, to supervise the compliance of financial institutions with capital adequacy, the level of provisions, as well as the practices of lending institutions, including consumer protection aspects.

It also includes important gender-disaggregated information on borrowers as an important element related to the CBK project on women’s access to finance, supported by the European Bank for Reconstruction and Development through the “WE Finance Code”.

The Guideline will serve the CBK in drafting policies towards the financial sector, advancing data-based decision-making and, at the same time, helping financial lending institutions to make well-informed decisions during the loan granting process and in managing credit risk, which contributes to the development of the sector and financial stability at the same time. The implementation of the Guideline will include, in addition to new loans, the entire active loan portfolio with new required data which will be implemented in phases.

The advancement of this Guideline was made in consultation with the implementing financial institutions, preceding a process of building human and technical capacities for the implementation of this Guideline, while having the assistance of the expertise of the International Finance Corporation with which the CBK is collaborating on the Digital Financial Services project.

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