On Oct. 10, RUS CB proposed amendments to credit bureau reporting.
RUS CB proposed amendments to ordinance 6267-U on the forms, procedure and terms for compiling and submitting reports to RUS CB by credit bureaus.
Follows RUS CB Feb. 2023, rules on reporting to them by credit bureau, see #128517.
Consultation documents are only available on RUS CB website until comment deadline.
Proposals
Supplement form 0420751 Information on the Sources of Credit History Formation, by 'Information on Contracts Concluded with firms supervised by RUS CB for the Implementation of Actions on Behalf of and at the Expense of Credit History Bureaus.
Reporting form 0420751 Information on the Audit of Credit History Bureau Reporting was transformed into reporting form 0420765, 'Information on the Audit of Credit History Bureau Reporting,' with adjustments to indicators and method of presentation.
In addition due to the entry into force of reg 803-P On the Chart of Accounts for Accounting by Non-Banking Financial Organizations, Credit History Bureaus, Credit Rating Agencies, and the Procedure for Its Application on Jan. 1, 2025.
Due to this and invalidation of reg. 487-P, references to 487-P are replaced with 803-P.
Certain indicators, groups of analytical attributes, and analytical attributes of reporting and their codes were adjusted due to refinement of RUS CB's XBRL taxonomy.
Effectiveness
Comments and feedback are are accepted within 14 calendar days, i.e. Oct. 24, 2023, and the ordinance is expected to enter into force on Jan. 1, 2025.
Oct. 2024 Ordinance Issued
On Oct. 4, 2024, RUS CB published ord 6769-U on the forms, procedure and terms for compiling and submitting reports to RUS CB by credit bureaus in force Jan. 1, 2025.
Regulators
RUS CB
Entity Types
Auditor; CNSM; Corp; CRB
Reference
PR 10/4/2024; Ord 6760-U, 7/25/2024; CP, 10/10/2023; Ord, 9/27/2022;
