Do you need to know your company’s financial risk? You should know that the Bank of Spain manages the Central Credit Register (CIRBE), a database that collects information on the credit risks that financial institutions have with their customers, whether individuals or companies. This body prepares reports for companies and individuals seeking to know their financial and credit situation. In this way, they can better plan and manage their finances.
In this article we tell you everything you need to know about CIRBE, and how to request information.
What is the CIRBE and what is it for?
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CIRBE, or the Banco de España’s Central Credit Register, is an essential tool for risk control in the Spanish financial system.
In other words, through CIRBE, the Banco de España collects information from all financial institutions on the loans, guarantees and risks that customers have with them.
What is the purpose of requesting information from the CIRBE by companies?
Companies requesting information from CIRBE allows them to obtain a complete picture of their credit profile. This is important so that they can:
- Identify the quantity and quality of credits they have with different financial institutions.
- Ensure that all the information recorded is correct and up to date, so that there are no errors that could harm the company.
- If the company needs financing, having a clear and detailed report can facilitate the approval of new loans.
How do I request the risk report from the Bank of Spain?
Companies can request the risk report from the CIRBE through different channels and in different ways:
- Online application. The digital certificate can be used for companies to access the Bank of Spain’s portal and request the report quickly and securely.
- In-person application. It is also possible to go to the Banco de España offices with the necessary documentation and request the report.
- Request by post. The last option can only be used by individuals and consists of drawing up an application form and attaching the required documentation, to be sent by ordinary post.
What documentation is required?
In order to request a company report from the CIRBE it is necessary to provide specific documentation:
- Company identification documents. These are the CIF and other documents that accredit the legal representation of the company (deed of incorporation or power of attorney). The applicant’s DNI must also be provided.
- Digital certificate. A digital certificate is required for the application on the Bank of Spain website to guarantee the security and authenticity of the information requested.
Steps to consult the CIRBE with a digital certificate
To view the information online, you need to follow a series of steps:
- Access the Bank of Spain website and look for the CIRBE section.
- Use the digital certificate to verify the company’s identity and guarantee that you are an authorised person.
- Report request. The next step is to complete the application form with the required information and send it through the portal.
- Download the report. Once the application has been processed, the report will be available for download.
Benefits of consulting the Banco de España’s risk report
There are several advantages of consulting this type of report. We highlight the most important ones: Consequently, there are several ways to consult risk reports, so it is important that we highlight the most relevant ones for you:
Financial transparency
Consulting the Bank of Spain’s risk report allows companies to have a clear view of their financial situation and helps to make informed decisions based on accurate and up-to-date data.
Detection of errors
When the report is obtained, companies can detect possible errors in the information recorded by financial institutions and thus request correction and avoid future problems when applying for financing, for example.
Improved financial management
With a detailed CIRBE risk report, companies can improve their financial management, optimise their financing strategy and minimise risks. This includes better payment planning, debt refinancing and a greater ability to negotiate better conditions with financial institutions when applying for credit, guarantees or loans.
Requesting reports and complaints
If you request a report and find errors you can file a complaint to ask for it to be corrected, in this same process you must comply with:
- Submission of the claim. Send the claim form with the documentation supporting the requested correction and provide all the necessary details to prove that the information held by the Banco de España is incorrect.
- Review by the Banco de España. The BE will review the request and, if necessary, request additional information from the financial institutions involved.
- Resolution of the claim. Once all the documentation has been reviewed, the Banco de España will issue a resolution on the claim submitted and, if it has detected the error, it will take all the necessary measures to correct it.
The Banco de España’s Central Credit Register is an important tool for the management and control of credit risk for both companies and individuals. Requesting and periodically reviewing the CIRBE risk report allows companies to stay informed about their credit profile, detect errors and improve their financial management.
If you need help to request it, at LEIALTA we have a great team of business consultants who will advise you without obligation, we are here to help you continue to grow. Do not hesitate to contact us!
