to use all such data with unprecedented levels of flexibility and of break down possibilities, like for the calibration of regulations and other policy instruments and tools. Hence, while already important in many jurisdictions, the prominence of CRs, CBs and CCRCs in fulfilling these needs can only be expected to increase. Concluding Remarks, Trends and Key Challenges The main purpose of this report has been to discuss the ways in which credit reporting systems support financial sector regulation and supervision. Special emphasis has been placed on the potential difficulties that CRSPs may face in satisfying the respective data needs of financial supervisors, regulators and other authorities with financial stability responsibilities (referred to collectively as sector authorities” “financial in the remainder of this report), and the potential problems that all such authorities may encounter to be able to use available data in an effective manner. This concluding chapter summarizes the key trends being observed in credit reporting activities in connection with the provision of data to financial sector authorities, and identifies the key challenges associated with each of those trends. A number of actions to face these challenges is also proposed. At a more general level, the GPCR can be used to determine whether the national credit reporting system possesses all the essential features that characterize a well-developed system, so that it can be leveraged to the fullest extent possible for financial sector regulatory and supervisory purposes in addition to other important functions it may already be fulfilling. – Trend 1 (Data) - Credit data demands by financial sector authorities continue to grow and keep becoming increasingly complex.
to use all such data with unprecedented levels of flexibility and of break down possibilities, like for the calibration of regulations and other policy instruments and tools. Hence, while already important in many jurisdictions, the prominence of CRs, CBs and CCRCs in fulfilling these needs can only be expected to increase. Concluding Remarks, Trends and Key Challenges The main purpose of this report has been to discuss the ways in which credit reporting systems support financial sector regulation and supervision. Special emphasis has been placed on the potential difficulties that CRSPs may face in satisfying the respective data needs of financial supervisors, regulators and other authorities with financial stability responsibilities (referred to collectively as “financial sector authorities” in the remainder of this report), and the potential problems that all such authorities may encounter to be able to use available data in an effective manner. This concluding chapter summarizes the key trends being observed in credit reporting activities in connection with the provision of data to financial sector authorities, and identifies the key challenges associated with each of those trends. A number of actions to face these challenges is also proposed. At a more general level, the GPCR can be used to determine whether the national credit reporting system possesses all the essential features that characterize a well-developed system, so that it can be leveraged to the fullest extent possible for financial sector regulatory and supervisory purposes – in addition to other important functions it may already be fulfilling. Trend 1 (Data) - Credit data demands by financial sector authorities continue to grow and keep becoming increasingly complex.