Consultation Paper on the Proposal to set up a Commercial Credit Reference Agency

The HKMA has released for public consultation its proposal to establish a commercial credit reference agency (CCRA) in Hong Kong following the completion of a Study on this subject. The Study finds that the establishment of a fully-fledged CCRA would bring about significant benefits to Hong Kong in terms of improving the banking industry's credit risk management and reinforcing borrower discipline, thereby enhancing the safety and soundness of the banking system. Commercial customers would also benefit from higher transparency which would result in more competitive loan pricing. To some extent, the CCRA would also enable banks to reduce reliance on collateral and increase their willingness to lend to small and medium-sized enterprises. The HKMA therefore considers it desirable to establish a CCRA in Hong Kong.

The consultation period ended on 15 September 2000. The full text of the consultation paper can be downloaded below.

The Consultation Paper

Annex A
Enclosure 1 to Annex A

Annex B
Attachment to Annex B

Annex C