Overview of Credit Information Reporting in Bolivia Sample Clauses

Overview of Credit Information Reporting in Bolivia. Until recently, Bolivia only had one formal credit bureau, the State-run “Sistema de Central de Informacíon de Riesgo Crediticio” (CIRC) at the Superintendence of Banks and Financial Entities. The CIRC only covers the formal sector (including some banks and private financial funds that offer microcredit loans) and their clients. Until very recently NGOs and other informal microfinance institutions have not shared their clients’ credit information with or had access to the CIRC database (Xxxxxxx, 2001). Recent legislative changes have permitted the establishment of private credit bureaus and the sharing of information between these credit bureaus and the CIRC for microfinance and consumer credit, but credit information from unregulated lenders’ clients remains limited. In the past NGOs have instituted informal credit information sharing systems, including “black lists”, but these have been limited both geographically and in terms of the data collected. Foreign credit bureaus are yet to establish operations or invest in Bolivia, unlike the markets in other Latin American countries such as Peru and El Salvador (Xxxxx, 2003; Xxxxxx, M., 2003). Table 1: Overview of Formal and Informal Financial Sectors in Bolivia, by Total Portfolio (Cartera Vigente) Type of Entity Total Portfolio as of Dec. 1998 (USD) Total Portfolio as of June 2001 (USD) Commercial Banks 4,023,610,554 2,769,455,643 Total Formal MFIs (BancoSol + MFI FFPs) 132,252,099 159,187,900 BancoSol 70,720,936 60,057,926 Microfinance FFPs21 61,531,163 99,129,975 Consumer Credit FFPs 109,088,924 19,619,894 Microfinance NGOs 37,663,787 53,206,523 Credit Unions (Cooperativas) 186,246,537 178,933,446 Source: Xxxxxxxx-Xxxx & Xxxxxxxxx-Xxxx (2002); SBEF, Finrural.
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Related to Overview of Credit Information Reporting in Bolivia

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  • Buyer Financial Information If requested by Seller, Buyer shall deliver to Seller (a) within one hundred twenty (120) days after the end of each fiscal year with respect to Buyer, a copy of Buyer’s annual report containing audited consolidated financial statements for such fiscal year, if available, and (b) within sixty (60) days after the end of each of Buyer’s first three fiscal quarters of each fiscal year, a copy of Buyer’s quarterly report containing unaudited consolidated financial statements for each accounting period, if available, prepared in accordance with Generally Accepted Accounting Principles. Buyer shall be deemed to have satisfied such delivery requirement if the applicable report is publicly available on Buyer’s website or on the SEC XXXXX information retrieval system; provided however, that should such statements not be available on a timely basis due to a delay in preparation or certification, such delay shall not be an Event of Default, so long as such statements are provided to Seller upon their completion and filing with the SEC.

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