CIRBE: What is it and how does it work?

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The Risk Information Center of the Bank of Spain (CIRBE) is the database that records all loans, credits, guarantees and guarantees. Discover what it is, how it works and what the risk register that entities assume is used for.

What is CIRBE?
The CIRBE is the acronym given to the Risk Information Center of the Bank of Spain . It is also known as CIR.

It is a database that records all the information on loans, credits, guarantees and guarantees that financial institutions grant to their clients.

Despite being confused with a registry of defaulters , they are not the same. To appear in a file of defaulters, you must have a history of non-payment.

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How does CIRBE work?
The CIRBE has a monthly operation and periodicity . What does it consist of?

Every month, the CIRBE is updated and offers reporting financial institutions a set Chinese Overseas America Number Data of data on those holders whose risk exceeds €1,000 .

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What is the CIRBE for?
When you request a loan from a financial institution, the first thing it will do is analyze your economic profile.

By studying your income, expenses and debts, the company decides how high the risk is to grant the loan. This is where CIRBE comes into play.

The entity in question informs that it is going to access your credit history , housed in the CIRBE. Once inside, you can check if you have outstanding debts or if everything is paid off.

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What debts do you have to have to appear in the CIRBE?
Not everyone is present in the database. To appear in the CIRBE you must have a loan, credit, guarantee or guarantee that exceeds a specific amount.

The minimum limit is €1,000 per client and entity . Before, it extended up to €9,000. The data recorded is cumulative .

Example. If you have a credit card of €800 and request a loan of €600 you will appear in the database. Because? Because the sum of the two loans exceeds the minimum risk limit of €1,000.