2.5.1. Transfer of CBRT Risk Center Activities to the Banks Association of Turkey - Risk Center

The process on how the Credit Bureau will operate the risk center activities on behalf of the Banks Association of Turkey-Risk Center - established by Law No. 6111 dated 13 February 2011- in the first half of 2013 has been set according to a timetable.

In this context, following the completion of the infrastructure anticipated in the protocol which was signed between the BAT, the Credit Bureau and the CBRT, the Credit Bureau took over the risk center database of the CBRT on 24 January 2013. The Credit Bureau and the Risk Center of the CBRT collected data from member institutions simultaneously, consolidated data per clients (individuals and firms) and produced reports for the test period of January, February and March 2013. After controlling the conformity of the data and the reports produced by the CBRT and the Credit Bureau and being ascertained about the level of conformity anticipated in the protocol, the Risk Center database of the test period was transferred to the Credit Bureau in May, 2013 for the last time.

The Credit Bureau started its operation as an information sharing platform on behalf of the BAT-Risk Center on 28 June 2013. On that date the CBRT Risk Center activities ended.