CRIF Italy has built itself along the years a long-standing experience in managing the various regulatory provisions and ad hoc decisions that our governments and the banking system itself have put forward to address emergency situations (i.e. earthquakes, flooding, etc..).

Normally these provisions would have been limited to the specific territory affected by calamitous events while, of course, with the COVID-19 emergency, dedicated provisions have been put in place with regards to the whole Country. The approach, however, is the same that we have seen and implemented as CRIF in the past, that is a suspension or moratorium on the payments of credits, for both companies and consumers.

With regards to the present emergency situations, we are talking specifically of: – The possibility for MSMEs to request the suspension of the payments for mortgages and other loans repayable by installments, as well as an extension of the contractual maturity of the credit;
– The possibility for professionals and for employees to request a suspension of the payments for the “first house” mortgages.

Credit & Financial Institutions

  • What CRIF guarantees on its side is of course to reflect these suspensions, moratorium and extensions within its Credit Information System so as to guarantee their full implementation. This is done by specific changes applied to the contribution flux that we receive from credit institutions as well as to the sets of information that are displayed to the participants.
  • In doing that, we also open a dedicated channel of communication with credit and financial institutions our clients to alert them on the regulatory provisions that have been adopted and to inform them about the aforementioned changes and about the consequent actions on their side.

Credit & Financial Institutions

  • For example, this is an extract from a letter just recently sent to all entities that contribute data to our Credit Information System:

“In the period affected by the suspension, your institution will still have to continue to send monthly updates, in order to represent the correct exposure of credit information in EURISC. The updates must report, starting from the first month and for the entire suspension period, the credit relationship situation as reported in the month prior to the suspension.

The only information to be adjusted will be the “Transaction closing date”, which must be postponed every month with respect to the date provided for in the amortization plan for the entire suspension period or only once at the beginning of the suspension period for a period equal to the suspension period granted.

This rule is valid only in the event that the customer does not make installment payments (already past due and / or expiring) during the suspension period; if payments are made, even partial, the information relating to the loan must be updated according to the standard contribution rules provided for in the periodic supply manual.”


  • With regards to the relationship between CRIF and consumers, we continue to guarantee the same service levels – notwithstanding the current emergency situation. This includes requests for data access or a dispute, or requests for clarification – also about new legislative decrees for emergency COVID-19 – through our dedicated channels: telephone, email, chat, web form.
  • In addition, on the home page of the CRIF website/consumer area we have included a note explaining the possibility to request the suspension of the payments for loans, specifying that to obtain this suspension, the Data Subject must send the request directly to his credit institution.

CRIF at A Glance:

  • Founded in Bologna in 1988, CRIF is a company specialized in the creation and management of Credit Information Systems, business information and solutions for credit management.
  • Over the years as a manager of Credit Information Systems, CRIF has developed a series of initiatives, as well as real tools dedicated to Italian families – – aimed at promoting and improving awareness and knowledge of its economic and financial situation – driven by the conviction that financial education plays a fundamental role as a necessary prerequisite for a responsible recourse to credit.
  • CRIF is also an internationally active part in strategic orientation activities aimed at promoting financial inclusion and the elimination of discrimination in access to credit.
  • Worldwide, CRIF collaborates with the World Bank and the International Finance Corporation as an expert on the subject. CRIF is also a member of the Business Information Industry Association and one of the founding members of the World Consumer Credit Reporting Conference, since its first edition held in Rome in 1998.
  • At European level CRIF is a founding member of ACCIS, the European association of credit information systems.
  • At the international level CRIF is a member of BIIA – Business Information Industry Association Asia Pacific – Middle East Ltd.

Source:  CRIF