Amendments to the Law On Credit History

Amendments to the Federal Law «On credit History» were made in order to include unique identifier of the contract to credit history of physical persons and legal entities. This helps to improve responses accuracy of the data inquiry from several credit history bureaus (CHB).

Rules of assignment of unique identifiers to obligations of lenders, guarantors and principals will be regulated by the Central Bank of the RF.

Records of credit history for subjects of credit history – guarantors, principals, physical persons or legal entities will be formed regarding unique identifiers of contracts and transactions.

Assigned unique identifiers are not subjected to changes in cases of assignment of claim or debt.

Sources of forming of credit history, providing CHB with information on active contracts with lenders, guarantors are obliged to assign unique identifiers to all contracts and provide to CHB not later than one year after validity date of the amendments.

The Federal Law as of May 1, 2019 №77-FL will come into force a hundred and eighty days after its publication on May 8, 2019.