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Expansion1. Distribute both positive and negative credit informationin the registry sharing credit information:There is a need to put more emphasis on positiveinformation like outstanding loans, assets, landpayment behaviour on accounts in good standing.The public registries in Belgium, Brazil, andTurkey began sharing more positive information.Backed by new laws, the Greek and Hong Kongprivate bureaus did the same. In Greece, thenumber of bureau consultations grew by morethan 50 percent and several new products forlenders were launched. In addition, negativeinformation like defaults and arrears should alsobe displayed.2. Improve data quality (reforms on registries):Bangladesh: the public registry raised the penaltyfor banks that withhold data from 2,000 takasto 500,000 takas and the penalty for disclosingcredit information to unauthorised parties from2,000 takas to 100,000 takas. As a result, theshare of banks submitting data on time jumpedfrom 25 percent to 95 percent.Mozambique: quality shot up after new regulationsallowed the registry to fine banks forproviding incomplete information. More than adozen countries are improving data protectionlaws, which include incentives and safeguards forquality.3. Make credit registry electronic:Pakistan: an online system has been implementedto improve credit registries. Providingonline access is associated with more credit. Inaddition, this system might help spur commercialbanks to adopt credit-scoring technology, whichboth speeds up the lending process and reducesopportunities for gender bias. Creditors can nowobtain information instantly.4. Introduce universal security for debtors andcreditors:Slovakia permitted debtors to use all movable assetsas collateral — present and future, tangibleand intangible, and abolished the requirementsfor specific description of assets and debts. Sincethen, movables and receivables secure more than70 percent of all new business credit.5. Permit out of court collateral enforcement:Spain: introduced out of court enforcementthrough notaries execution, allowing debtors andcreditors to agree on enforcement methods. Timeto enforce was cut from more than one year tothree months.Slovakia: the gains from reforms were even larger.It took 560 days to enforce a mortgage throughthe old system. Now it is possible to enforce it in45 days.India: state-owned banks which account for 90percent of lending, were permitted to enforcesettlement out of court. On default the bank mustnotify the debtor. After a 60-day grace periodthe bank can seize the assets directly and sell bypublic auction. Creditors can expect to enforcewithin nine months.Ukraine also expanded the scope of assets thatcan be used as collateral, and gave secured creditorsfirst priority to their collateral and its proceeds.In addition, it gave creditors the ability toenforce collateral privately, bypassing the lengthycourt procedures required before.Croatia cut several months from enforcement bymaking it harder for debtors to delay the enforcementprocess. Movable collateral can now beseized and sold not just by the courts but also byauthorised private firms.Poland changed its bankruptcy laws in 2003.Previously, employees and taxes were paid beforethe secured creditors upon liquidation. Now, se-249