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March 03, 2006
Federal regulator enters Experian-Interfax in register of credit bureaus
The Federal Financial Markets Service on March 3 entered Experian-Interfax credit bureau in the state register of credit bureaus, which under Russian law gives the bureau the right to exchange credit histories.
"The decision of the federal regulator means that as of today our bureau can get down to practical operations, i.e. start collecting data from banks in a working, not test mode and supplying them with information about borrowers," Nikolai Dimchenko, General Director of the credit bureau said. "By now we have signed accession agreements with over 100 lending institutions, among them major operators on the consumer credit market. Agreements with several dozen other banks have been drafted and the entry of Experian-Interfax in the register was the sole condition of their signing," he said.
Experian-Interfax was established in October 2004. Interfax Information Services Group, a major provider of information and services to the financial market and Experian, leading global information solutions company, that has established credit bureaus in 12 countries, including the United States and Britain.
The credit bureau was set it up on a parity basis to supply information on loan payments by borrowers increasing the safety of creditors and borrowers through a general reduction of credit risks.
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