Banking Position Paper 2010

and international practice in order to avoid data splitting amongst bureaus. To enableCIs to have full access to the data and a wholistic view, the Decree also allows creditbureaus to share date with each other and with CIC.The current regulation on membership exclusivity does not promote healthy competitionin this field. Furthermore, industry data will be split amongst the bureaus and banks willnot get a wholistic view as they are not able to access the data. Although bureaus areallowed to share amongst themselves, the likelihood of sharing information amongstcompetitors is low.Recommendations: we recommend that credit institutions are allowed to use servicesfrom more than one credit bureau and that the SBV work closely with commercial banks,consumer finance companies and other market participants to encourage the rapiddevelopment of full and complete credit bureau reporting and infrastructure.8