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Credit reporting: Towards better access to credit and protection for consumers. ECRI Commentary No. 9, March 2012

Pyykkö, Elina (2012) Credit reporting: Towards better access to credit and protection for consumers. ECRI Commentary No. 9, March 2012. [Policy Paper]

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    Abstract

    Credit reporting addresses the fundamental problem of credit markets: information asymmetry between borrowers and lenders. By providing an efficient mechanism for evaluating risk, accurate credit information enables credit markets to function more effectively and at a lower cost than would otherwise be possible. Regulators and financial market actors therefore increasingly recognise the value of credit-reporting systems for the improved management of credit risk and as a tool to enhance access to credit, thereby contributing to sustainable economic growth and financial sector stability. When assessing the need for more regulation, however, this ECRI Commentary notes that credit-reporting systems are networks combining different industries for the benefit of more efficiency and security, and excessive regulation can work against the very objective of stable and efficient financial markets.

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    Item Type: Policy Paper
    Subjects for non-EU documents: EU policies and themes > Policies & related activities > consumer protection policy
    EU policies and themes > Policies & related activities > economic and financial affairs > Single Market > capital, goods, services, workers
    Subjects for EU documents: UNSPECIFIED
    EU Series and Periodicals: UNSPECIFIED
    EU Annual Reports: UNSPECIFIED
    Series: Series > Centre for European Policy Studies (Brussels) > ECRI Commentaries
    Depositing User: Phil Wilkin
    Official EU Document: No
    Language: English
    Date Deposited: 13 Mar 2012 14:07
    Number of Pages: 5
    Last Modified: 28 Mar 2012 14:20
    URI: http://aei.pitt.edu/id/eprint/33838

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