The Central Credit Register (CCR) contains information on actual credit liabilities of natural or legal persons in respect of the entities registered in the CCR, as well as potential credit liabilities taking the form of irrevocable commitments.

The following are examples of actual liabilities:

• loans for house purchase;
• car loans or loans for the purchase of furniture and other consumer goods or services
• loans to purchase securities (shares, bonds, etc.);
• discount of bills of exchange or other commercial bills;
• overdrafts on bank accounts;
• financial leasing and factoring operations;
• used amounts on credit cards.

When taking the form of the registered entities’ irrevocable commitments, the following situations are examples of potential liabilities:

• agreed but unused credit card amounts;
• agreed but unused credit lines;
• guarantees given by the registered entities;
• endorsements and sureties;
• any other credit facilities convertible into actual debt.

The liabilities of backers and guarantors are reported to the Banco de Portugal’s CCR since they are liable – jointly and severally with the debtor – to fulfil obligations. This is a personal guarantee in favour of the participants in which the backer or guarantor is liable for the repayment of a loan granted to a third party, in case of default by that party. If credit is not in default or, in the event of default on the credit agreement, the guarantor or backer has not been required to replace the debtor, the liabilities of backers or guarantors are reported to the CCR as potential credit. If credit runs into arrears, institutions must inform backers or guarantors thereof. Should payments in default not be settled within the established time frame, institutions must report the liabilities of backers or guarantors in default to the CCR.

The CCR also contains information on insolvency declarations for natural or legal persons, issued by the courts. The information relating to any insolvency status is disclosed as soon as the Banco de Portugal receives this information, and such disclosure remains until the Banco de Portugal is notified of the judicial decision ordering the closure of the proceedings. Updating this information is the sole responsibility of the courts. If the credit liabilities report does not reflect the current state of the insolvency proceedings, the court where the relevant proceedings take place should be contacted.

In the case of legal persons, loans obtained in some euro area countries and totalling more than €25,000 are included in the credit liabilities report. This information is shared by the European Central Bank through the AnaCredit system, a database containing detailed information on loans in the euro area, to which the Banco de Portugal also contributes.