Bank of Israel unveils plans for better credit data gathering
Credit registry designed to improve both credit provision and financial stability
The Bank of Israel unveiled plans on November 1 to gather, store and disburse credit information, as part of a broader push to improve access to credit in the country.
The core of the system will be a credit register, maintained by the central bank. Data will then be used by private credit bureaus to model the creditworthiness of prospective borrowers, and these outputs used by banks to offer credit to customers.
To date, Israel has collected only "negative" credit information, such as when a
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