Michael McGrath (Cork South Central, Fianna Fail)
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71. To ask the Minister for Finance when the Central Credit Register will be fully operational; the steps that have been taken to date in its implementation; if personal contract plans will be included on the register along with other hire purchase agreements; and if he will make a statement on the matter. [11536/18]

Paschal Donohoe (Dublin Central, Fine Gael)
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The Central Bank has advised that the Central Credit Register (CCR) is being implemented on a phased basis with phase 1 focusing on lending to consumers and phase 2 focusing on moneylenders, local authorities and business lending.

The period for initial data submission by lenders for phase 1 ran from 30 June 2017 to 31 December 2017, and lenders are now submitting data on a monthly basis. The Bank is in the process of reviewing the quality of the data received from all lenders during phase 1, and once it is satisfied with the quality of the data, credit reports will then be available for consumer borrowers and lenders. The Central Bank anticipates that this will be within the next fortnight. The website will be updated with the exact date from when credit reports will become available, together with information on how a consumer can make a request for their credit report and the types of identification documents that will be required.

In respect of phase 2, the period for initial data submission by the relevant lenders will run from 30 March 2018 to 30 September 2018.

As previously indicated, last year the Central Bank became aware that the wording used in the Credit Reporting Act to exclude data on trade credit agreements from being reported to the CCR also inadvertently excluded data on hire purchase, personal contract plans and similar types of credit agreements where the lender remains the owner of the goods financed. A legislative proposal to address this lacuna is being worked on and will be brought forward in the very near future.