The Risk Information Center of the Bank of Spain, also known as CIRBE, is a public service that manages a database in which most of the credits, guarantees, loans and risks that financial institutions have with their clients. This could be a perfect definition of cirbe, which refers to all the information that banks have about users in their databases.
For each of these risks, the entities that declare them provide the most important information, including, among other things, the identification of the customer and the credit operations facilitated. In the case of being the holder of a mortgage loan, both the name and the tax identification number will be stored in the CIRBE, together with the amount owed at the end of the month.
The Cirbe database is accessible to all entities, which means that if a person or company signed a loan, the rest of the entities will be aware of it in a period of two or three months. It is also necessary that the amount owed exceeds 6.000 euros.
What is CIRBE for?
The Risk Information Center has two main purposes.
- Facilitate the Bank of Spain the correct development of its powers and, in particular, those of supervision and inspection of credit institutions.
- Provide the reporting entities with the precise information for their activity. When a financial institution analyzes the possibility of granting a loan or not, through the cirbe and with its knowledge, it can find out what debt the person or company has with other entities and thus know the degree of solvency. Once the loan has been granted, and while it is due, the entity will receive monthly information on the different risks that have been declared to the Risk Information Center. Actually it is a circular report of risks that will help to know your situation.