The Centre of Risk Information of the Bank of Spain (CIRBE) is a public and confidential data base. It collects information about direct (loans and credits) and indirect (collateral and bank guarantees) risks for amounts greater than 6000 euros that credit entities have with their clients.
This is not a debtor’s list but instead a very useful instrument for a banking institution to be able to know about its client’s level of debt. The Bank of Spain also uses it as a means of control over financial institutions.
Possible prejudice of the CIRBE
It is possible that a company detects that the Bank of Spain continues to publish in its Risk Assessment Report, the financial risks of loans acquired with various credit entities that are now cancelled and liquidated.
Considering the damage that this erroneous information could cause to commercial activity, the company can and should exercise the following actions so that the data can be rectified and removed from the Bank of Spain’s Risk Assessment Report.
There are three options that can be started simultaneously to achieve this: two administrative procedures and one civil-judicial procedure.
Complaint to the Bank of Spain
The Complaint against an entity for disagreement with what is declared in the Centre of Risk Information is the most guaranteed and viable option.
Any individual or legal representative that considers the information declared in the CIRBE to be inexact can institute a complaint.
Complaint to the Spanish Agency of Data Protection
In the case that the administrative complaint to the Bank of Spain does not achieve the desired result, it is worth turning to the Spanish Agency of Data Protection (AEPD), which will communicate to the Bank of Spain as soon as it is notified of the complaint and which will undertake an investigation to determine if the Bank of Spain has breached fundamental rights.
The complaint to the AEPD can be done at the same time as the direct complaint to the Bank of Spain.
The civil-judicial route: claims for damages
Finally, there is the possibility of bringing an action for damages in the concept of moral damages to the honour of a company caused by illegitimate interference through the Ordinary Procedure on the Court of First instance.
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