Terminology for the Positive credit register
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Terminology concepts
timestampNo contributors
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a system-generated record of the time when a message was sent, when it arrived, or when information was processed or when a transaction was made
batchNo contributors
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a collective set of information that has a predetermined structure. The batch can be sent from one party to another.
batch requestNo contributors
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a message used by a public authority to order information from the Positive credit register
annuityNo contributors
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a method for determining regular payments for the borrower. During an ongoing period for interest determination, the payments remain constant. The sum of the interest and amortization varies inside the constant amount. The payment size changes from one period to the next
anonymisationNo contributors
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removal or alteration of identification information; the purpose is to conceal the identity of the parties involved
home loanNo contributors
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a loan, as a form of consumer credit, given to private individuals for the purpose of buying a house, apartment or residential real estate; or for major repairs
balloonNo contributors
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a payment method that involves lower amounts in the beginning and a high repayment in the final installment; both principal and interest are included in all the payments
gross income for the Positive credit register’s recordsNo contributors
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a gross income figure based on information retrieved from the Incomes Register, sufficiently accurate for credit-scoring purposes
bulletNo contributors
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a payment method where the borrower pays interest, no amortizations, until the loan period ends. The borrower repays the entire principal at the period's end date
accelerationNo contributors
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lender’s demand to the borrower to repay the entire remaining balance of an existing loan, as due immediately
Euribor rateNo contributors
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the reference rate in the Eurozone financial markets, determined by the European Money Markets Institute
natural person’s identity informationNo contributors
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the facts for identifying a person and his or her activities as a self-employed operator of a trade or business
personal guaranteeNo contributors
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a guarantee contract signed by a natural person or equivalent private guarantor
personal security No contributors
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a commitment by a third party to pay back the borrower’s debt balance to the creditor
goods or services related creditNo contributors
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a loan issued to an individual for financing the purchase of a consumer good or service
sign-up as a loan contract notifierNo contributors
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request made by a party concerned by the information-reporting requirement on loan contracts to receive access rights and relevant instructions
requirement to sign upNo contributors
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the lender’s legal obligation to inform the Incomes Register Unit of the lender’s role as a notifier of loan contract data
requirement to submit reportsNo contributors
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the lender’s legal obligation to submit consumer credit information and information on comparable lending to the register
moveable propertyNo contributors
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a category of property covering goods or items that can physically be moved, and corporate stocks, shares, securities and promissory notes
running-account loanNo contributors
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a loan, as a form of consumer credit, where a consumer is given a credit limit as one single lending decision. The consumer can use the limit in full or partially
amount drawn against a running accountNo contributors
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the amount of money, recorded at a specific time, that the borrower has taken out from a running-account loan
drawn amount of a lump-sum loanNo contributors
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the amount of money that the lender has paid, in one or more transactions, to the borrower’s bank account
lump-sum loanNo contributors
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a loan, as a form of consumer credit, where the principal that the lending decision refers to is available to the consumer just once
fixed interestNo contributors
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a rate of interest that the lender and the borrower have agreed upon, as being valid for a certain period into the future
fixed-size paymentsNo contributors
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a payment method with regular payments where the sum of the interest and amortization stays the same through all periods
period for a fixed interest rateNo contributors
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by agreement between the lender and the borrower, the period when the loan’s fixed interest remains unchanged
total interest rateNo contributors
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a combined rate of interest, inclusive of various parts that depend on specific sources of reference
codesetNo contributors
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a restricted collection, intended for a specific purpose, of codes and code labels
interestNo contributors
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a percentage rate of compensation that the borrower pays to the lender
interest rate capNo contributors
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an interest rate restriction where the upper limit is defined and agreed for the reference rate; although the upper limit is exceeded the loan rate remains unchanged
interest rate corridorNo contributors
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an interest rate restriction that lays down an upper limit and a lower limit for the reference rate; the lender and borrower agree that although the upper limit is exceeded – or goes below the lower limit – the loan rate remains unchanged
interest rate restrictionNo contributors
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an arrangement preventing the variable rate from going up too far
period for interest determinationNo contributors
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a period when the loan interest stays the same
consumerNo contributors
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a private individual who buys goods for purposes other than for the conduct of business
consumer creditNo contributors
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a loan issued or promised to be issued to a consumer, involving a loan contract made between the consumer and a lender company
consumer over-indebtednessNo contributors
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circumstances involving a person’s difficulty to cover their basic living expenses and accommodation because of high servicing costs
loan as referred to in Consumer Protection ActNo contributors
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a loan contract that falls under the scope of the Consumer Protection Act
consumption loanNo contributors
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a loan, as a form of consumer credit, with a purpose of use relating to consumers’ needs
request messageNo contributors
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a message where the sender asks to receive some registered data
processing responseNo contributors
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a response message, after processing a batch, that the Positive credit register generates
processing ruleNo contributors
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a rule that controls the way to verify and check the data either before it is saved in the Positive credit register or before the data processing can continue
access rightNo contributors
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privileges to utilize the Register’s IT system or its data content
leasingNo contributors
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a contract involving offer and acceptance of a fixed asset for a long-term lease
change in loan contract termsNo contributors
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a change affecting the terms and conditions of an existing loan contract
loan payment transactionNo contributors
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an aggregate cost amount related to the loan, payable by the borrower