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Brussels, 4 September 2008

Financial services: Commission nominates members of Expert Group on Credit Histories

The European Commission has appointed the members of its Expert Group on Credit Histories (EGCH). The group is composed of experts in the field of credit data. The group's objective is to identify solutions that will maximise the circulation of credit data within the EU. The experts will present their report with recommendations by 1st May 2009.

Internal Market and Services Commissioner Charlie McCreevy said: "Financial institutions' access to credit data on their clients is key for the sound development of competitive financial markets. The availability of correct and complete credit data underpins financial stability and economic growth. It also leads to significant advantages for consumers. However, existing barriers to the access to credit data hamper the realisation of these benefits. I am confident that the expert group will come up with innovative solutions to address these obstacles."

Further to the call for applications published on 16th June 2008 (IP/08/944), the Commission has appointed 20 experts in the area of credit data. Their mission will be to identify barriers to the access to and exchange of credit data within the EU and to find solutions to overcome those obstacles. The selection of the experts has taken into account the need to achieve a balanced representation of the interest of all relevant stakeholders (consumer associations, financial industry and national authorities).

The first expert group meeting will be held on 26th September. The mandate of the experts will end with the completion of their report by 1st May 2009. The group will meet in Brussels and will be chaired by the Internal Market and Services DG of the European Commission.

The list of appointed experts and more detailed information about the group are available at:

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