The report issued jointly by the two bodies describes the nature of credit reporting elements of a credit reporting system that is safe, efficient and reliable. The report which consists of 5 General Principles, 5 Roles of Key Players and 5 Recommendations for Effective Oversight are a good reference for credit reporting systems’ policy and oversight.
The good news is that this bottom lies at a much better level than the troughs in the 1980s and 1990s. As a consequence, the increasing trend in the debt-to-GDP ratio, which rose to almost 75 percent of GDP in 1997, has been reversed and declined to 69 percent of GDP in 2006.