Rose Conway-Walsh (Mayo, Sinn Fein)
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109. To ask the Minister for Finance the steps he has taken to protect the credit scores of viable businesses throughout the Covid-19 pandemic; and if he will make a statement on the matter. [16827/21]

Paschal Donohoe (Dublin Central, Fine Gael)
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I would ask the Deputy to note that the Central Credit Register (CCR) does not produce credit scores; rather the information on a credit report provided by the CCR is factual in nature and the information is provided to the CCR by lenders. It contains no guidance, recommendation or prohibition for lenders on what decision they should make on an application for credit or repayment arrangements agreed with borrowers. Subject to complying with applicable law and regulatory requirements, it is a matter for lenders to make their own lending decisions in accordance with their own credit policies and risk appetites. The Central Bank, as regulator, has advised lenders that in their reporting to the CCR, they will need to apply judgement, for example, around whether a restructure has been agreed in response to an identification of financial distress and should be reported as such.

One of my main concerns is to ensure that SMEs have access to sufficient liquidity, and that access to credit for SMEs is maintained. The Government has announced a range of measures to assist companies deal with the consequences of the COVID-19 restrictions, and to ensure that they have access to sufficient liquidity. These include tax measures, as well as loan schemes available through the Strategic Banking Corporation of Ireland, to assist SMEs. Throughout the pandemic, the network of Local Enterprise Offices have continued to act as a point of contact for businesses around the country, and they can offer advice and support to small businesses, about how best to proceed and what supports are available to them, further information on COVID-19 supports available to SMEs can be found at .

I also announced on the 25 February that the Employment Wage Subsidy Scheme (EWSS) and Covid Restriction Support Scheme (CRSS), will now remain in place until 30 June 2021 to support businesses affected by COVID-19 restrictions.

The SME Regulations set out the required treatment of SMEs by regulated entities in relation to various aspects of business lending. This includes detailed provisions around the credit application process, requirements regarding security or collateral, credit refusals and withdrawals, handling complaints, managing arrears and having in place policies for engaging with SMEs in financial difficulty.

In addition, Credit Review was established to assist those SMEs and farm borrowers that have had credit applications of up to €3 million refused or indeed an existing credit facility withdrawn or amended by the participating bank. SMEs can apply to Credit Review after exhausting the internal appeals process in the participating institution, which are currently AIB, BOI, Ulster Bank and Permanent TSB.

As Minister I will continue to work with the Central Bank, as regulator, to ensure that the Central Bank consumer protection and other applicable frameworks will be fully available to all borrowers that need support.