International Committee on Credit Reporting2015-04-282015-04-282014-05https://hdl.handle.net/10986/21810The general principles for credit reporting were issued by the World Bank in September 2011. Since then, the World Bank and the international committee on credit reporting (ICCR) have been leading efforts towards the implementation of the general principles worldwide. This report is one of the concrete outputs of the work following the general principles. It addresses one of the most significant problems that limit the ability of most small and medium enterprises (SMEs) around the world to obtain adequate external financing to underpin their productive activities: information asymmetries. Creditors assess the creditworthiness of credit and loan applicants based on two basic criteria: ones financial capacity or ability to repay a loan, and ones willingness to repay the loan. A credit reporting system s (CRS) basic objective is to address information asymmetries, which is crucial for determining repayment capacity and repayment willingness. Credit reporting can therefore be extremely valuable to creditors for enhanced, fact-based credit risk assessments, and in this sense can also be seen as a tool to facilitate access to financing, including by SMEs. The main objective of this report is therefore to identify actions that can be undertaken by authorities and other relevant policy makers to improve the flow of data and other relevant credit information on SMEs to creditors through CRS. For this purpose, the report first analyses the overall status of credit reporting activities in connection with SMEs.en-USCC BY 3.0 IGOACCESS TO CAPITALACCESS TO CREDITACCESS TO FINANCINGACCESS TO INFORMATIONACCOUNTS RECEIVABLESADMINISTRATIVE BURDENALTERNATIVE FINANCINGANTI-MONEY LAUNDERINGANTI-MONEY LAUNDERING LEGISLATIONARREARSASYMMETRIC INFORMATIONAVAILABILITY OF CREDITBALANCE SHEETBALANCE SHEETSBANK LOANSBANKING AUTHORITYBANKING SUPERVISIONBANKING SYSTEMBANKRUPTCIESBANKRUPTCYBANKRUPTCY FILINGSBANKRUPTCY LAWSBANKSBENEFITS OF CREDITBORROWINGBROAD ACCESSBUSINESS ACTIVITIESBUSINESS ACTIVITYBUSINESS INFORMATIONBUSINESS OWNERSBUSINESS PEOPLEBUSINESS PLANCAPITAL INJECTIONSCAPITAL MARKETSCAPITAL REQUIREMENTSCASH ADVANCECHAMBER OF COMMERCECHECKING ACCOUNTCOMMERCIAL BANKSCOMMERCIAL LENDINGCOMMERCIAL TRANSACTIONSCONSUMER CREDITCONSUMER LENDINGCONSUMER PROTECTIONCONTRACT ENFORCEMENTCOOPERATIVE BANKSCORRUPTIONCOST OF CREDITCREDIT APPLICATIONCREDIT BUREAUCREDIT BUREAUSCREDIT CARDCREDIT CARDSCREDIT FACILITYCREDIT GAPCREDIT GUARANTEECREDIT GUARANTEESCREDIT HISTORIESCREDIT HISTORYCREDIT HISTORY INFORMATIONCREDIT INFORMATIONCREDIT MANAGEMENTCREDIT MARKETCREDIT MARKETSCREDIT PERFORMANCECREDIT POLICIESCREDIT RATINGCREDIT RATING AGENCIESCREDIT RATINGSCREDIT REGISTRIESCREDIT RELATIONSHIPCREDIT REPORTCREDIT REPORTINGCREDIT REPORTSCREDIT RISKCREDIT RISK MANAGEMENTCREDIT RISKSCREDIT SCORESCREDITORCREDITOR RIGHTSCREDITORSCREDITWORTHINESSCURRENT ACCOUNTDEBTDEBT INSTRUMENTSDEBTORDEBTORSDEPOSITDEPOSIT RELATIONSHIPDEVELOPMENT BANKDEVELOPMENT BANKSDIRECT FINANCINGDIRECT LOANDISCRIMINATIONDOMESTIC BANKSE-COMMERCEECONOMIC ACTIVITIESECONOMIC DEVELOPMENTECONOMIC GROWTHEXPENDITURESEXPLOITATIONEXTERNAL CREDITEXTERNAL FINANCEEXTERNAL FINANCINGFACILITATIONFAIR ACCESSFINANCE CORPORATIONFINANCIAL CAPACITYFINANCIAL CREDITORSFINANCIAL CRISESFINANCIAL FRAUDFINANCIAL INFORMATIONFINANCIAL INSTITUTIONFINANCIAL INSTITUTIONSFINANCIAL INTERMEDIARYFINANCIAL MARKETFINANCIAL OBLIGATIONFINANCIAL OBLIGATIONSFINANCIAL POSITIONFINANCIAL PRODUCTSFINANCIAL REPORTINGFINANCIAL SERVICESFINANCIAL STABILITYFINANCIAL STATEMENTSFINANCING CONSTRAINTFINANCING CONSTRAINTSFINANCING FACILITIESFINANCING FACILITYFINANCING NEEDSFIXED ASSETSFORMAL FINANCIAL INSTITUTIONSGOOD CREDITGOVERNMENT BONDSGUARANTEE SCHEMEGUARANTORSGUARANTYIDINDEBTEDNESSINFORMATION ABOUT CREDITINFORMATION ASYMMETRIESINFORMATION SERVICEINFORMATION SHARINGINSURANCEINTEREST RATESINTERNAL FINANCINGINTERNATIONAL BANKINTERNATIONAL FINANCEJOB CREATIONJUDGMENTLACK OF INFORMATIONLARGE FIRMSLATE PAYMENTSLEGAL AUTHORITYLEGAL ENVIRONMENTLENDERLENDERSLETTER OF CREDITLETTERS OF CREDITLIMITED ACCESSLIMITED ACCESS TO FINANCELINE OF CREDITLOANLOAN AMOUNTSLOAN OFFICERLOAN SIZEMERCHANTSMONEYLENDERSMORAL HAZARDMORTGAGESMOVABLE COLLATERALMUTUAL FUNDSNEED FOR CREDITNEW BUSINESSOUTSTANDING LOANOVERDRAFTOVERDRAFTSPAYMENT DEFAULTSPEER LENDINGPOTENTIAL BORROWERSPOTENTIAL DEBTORSPROBABILITY OF DEFAULTPROPERTY AS COLLATERALPROPERTY RIGHTSPROTECTION OF PROPERTYPUBLIC POLICYREAL ESTATEREGULATORY FRAMEWORKREGULATORY OVERSIGHTREIMBURSABLE GRANTSREPAYMENTREPAYMENT CAPACITYREPAYMENT PERIODREPAYMENT SCHEDULESRESERVE BANKRISK MANAGEMENTSAVINGSSAVINGS ACCOUNTSECURITIESSETTLEMENTSSHORT-TERM FINANCINGSMALL BUSINESSSMALL BUSINESS ADMINISTRATIONSMALL BUSINESSESSOCIAL SECURITYSOLVENCYSOURCES OF FINANCESTART-UPSTART-UPSTERM CREDITTRADE CREDITTRADE CREDITORTRADE CREDITORSTYPES OF CREDITORSUNFAIR COMPETITIONUNIONUNIVERSAL BANKSVENTURE CAPITALWAREHOUSEWORKING CAPITALReportWorld Bank10.1596/21810