not only borrowers, but also guarantors for loans will be included in the BKI data
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Information in the credit history bureau (BKI) will be expanded by law: it will include not only borrowers, but also loan guarantors. According to experts, the innovation will allow for a more qualitative assessment of the debt burden when issuing loans, which, in turn, will affect the final rates for borrowers. However, in the case of citizens, the transfer of data about the guarantor to the BKI will require his consent, and most likely, banks will condition the issuance of a loan by its presence, experts believe.
The State Duma adopted in the second reading a bill providing for the addition of the concept of “subject of a credit history” by a guarantor for a loan and entering data about the guarantor into a credit history. The document was introduced by Anatoly Aksakov, head of the State Duma committee on the financial market, and a group of senators. Now, when citizens act as guarantors for loans, this information is not received by credit bureaus.
At the same time, according to Mr. Aksakov, the guarantor, in the event of default on the loan by the main borrower, assumes the burden of the loan, and this information “is very important for creditors to take into account the degree of workload of the guarantor with either other guarantees or other loans.”
According to Svyatoslav Yemelyanov, Deputy Chairman of the Board of Post Bank, this is the right initiative, which, on the one hand, will increase the responsibility of borrowers and co-borrowers, and on the other hand, will reduce the risks of non-payment of loans. “Such a refinement of the federal law may give creditors the opportunity to more accurately assess the solvency of borrowers, which ultimately should lead to more accurate setting of interest rates on loans and may reduce their debt burden,” agrees Oleg Lagutkin, general director of the BCI “Scoring Bureau”.
According to the Central Bank report for 2022, the number of title parts of credit histories (corresponding to the number of these unique borrowers) in the Central Catalog of Credit Histories (CCCH) amounted to 338.5 million at the end of the year (a decrease of 4.4%). This is due to a change in the requirements for the storage of credit histories in the bureau of credit histories, the regulator noted. In particular, from the beginning of 2022, the retention period for credit history has been reduced from ten to seven years. At the same time, the number of requests to the BCI is growing. Thus, according to the Central Bank, the total number of requests to the CCCH, including from subjects of credit histories, users of credit histories and divisions of the Federal Bailiff Service, increased by 10.2 million units in 2022 and amounted to 59 million requests since the start of the CCCH.
The initiative is necessary to specify the concept of the “subject” of a credit history, Ilya Zharsky, managing partner of the Veta expert group, is sure. “The lack of information about the guarantors can, in theory, create difficulties in evaluating a particular credit case,” he explains. potentially lead to the fact that the data on the guarantors will be known, for example, to collectors, and this is fraught with conflict situations if the borrower does not pay. In his opinion, if this norm is adopted, creditors will most likely oblige guarantors to give their consent to the transfer of data to the BKI. Otherwise, the loan may be denied.
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