How to create your company's banking pool?
Posted: Wed Dec 18, 2024 6:37 am
Financial institutions usually request the bank pool every time a company requests a credit or loan to finance its operating cycle or its investments.
We explain what a banking pool is, how you can use it and how it differs from CIRBE.
Find out what other documentation your bank may request to grant you financing.
Financial institutions usually request the bank pool before granting financing. This report allows their analysts to see the risks that the requesting company has with other banks .
To verify the consistency and integrity democratic republic of the congo email list
of the banking pool , financial institutions compare it with the information provided by the Bank of Spain's Risk Information Centre (CIRBE).
Accountants and finance managers must pay particular attention to the preparation of the banking pool and never be tempted to distort the data to disguise the company's situation. If financial institutions detect irregularities in the banking pool , it will be very difficult to obtain financing from them.
Download your FREE copy of the guide “How to be a genius at bank reconciliation”
What is CIRBE?
The Central Risk Information Centre of the Bank of Spain (CIRBE) is a public but confidential database that records the risks that credit institutions have with their clients .
This database contains practically all loans, credits, guarantees and risks that financial institutions have with their clients.
Any person, natural or legal, likely to be listed as the holder of a risk reportable to the CIRBE , such as loans, credits, guarantees and risks in general, has the right to obtain this report on the Bank of Spain website.
What is a banking pool?
The banking pool is a detailed report that companies must submit to banks when they need bank financing. This report details the current risks that the company has with all financial institutions, i.e. current loans, credit policies, leases, guarantees, etc.
What information should the banking pool include?
The banking pool must reflect in detail all the financial sources available to the company. More specifically, it must reflect the following:
The bank pool is usually prepared in a spreadsheet . To facilitate its preparation, we provide you with some tips:
Keep your accounting up to date . If you keep your accounting up to date, the accounting accounts for bank liabilities will reflect the current risks with each financial institution and it will be easier for you to update your banking pool.
Keep an updated bank pool template . It should reflect the initial amounts granted for your financial liabilities and the due dates for each of them. This way you will only have to update the outstanding balance of your financial liabilities.
Develop the accounting records for your bank liabilities to facilitate the identification of each source of financing. This will make it easier for you to draw up the banking pool and record your loans and credits.
Export a balance sheet of your short- and long-term bank liabilities to Excel . This way, you can quickly reflect current risks in the bank pool if you keep your accounting up to date.
Compare your accounting data with the data in the online banking of the banks you work with. This will help you correct any errors you may have in your accounting.
Compare your banking pool with the CIRBE . Please note that there may be minor differences, which we will discuss below.
Sage 50 helps you with your company's accounting, making it easier for you to create your bank account.
Does the banking pool have to coincide with CIRBE?
The banking pool does not have to coincide with CIRBE, but the differences must be minimal.
In order to compare CIRBE and the banking pool, the following must be taken into account:
Accounting must be complete and free of any error that distorts its true image , especially with regard to the accounting of liabilities with credit institutions.
All operations must be recorded up to the month in which they are compared with the CIRBE.
Even if all transactions are perfectly recorded, there may be different accounting criteria for the long and short term that make reconciliation difficult.
The CIRBE does not include operations whose aggregate risk does not exceed 1,000 euros in an entity , so this is where we can find more differences. In the CIRBE, risks that we have contracted below this amount and that we have accounted for may not be declared.
In any case, if the photo is not identical, it should be as similar as possible, since risk analysts at financial institutions will quickly identify what may be an error and what could be a manipulation or distortion of the banking pool.
We explain what a banking pool is, how you can use it and how it differs from CIRBE.
Find out what other documentation your bank may request to grant you financing.
Financial institutions usually request the bank pool before granting financing. This report allows their analysts to see the risks that the requesting company has with other banks .
To verify the consistency and integrity democratic republic of the congo email list
of the banking pool , financial institutions compare it with the information provided by the Bank of Spain's Risk Information Centre (CIRBE).
Accountants and finance managers must pay particular attention to the preparation of the banking pool and never be tempted to distort the data to disguise the company's situation. If financial institutions detect irregularities in the banking pool , it will be very difficult to obtain financing from them.
Download your FREE copy of the guide “How to be a genius at bank reconciliation”
What is CIRBE?
The Central Risk Information Centre of the Bank of Spain (CIRBE) is a public but confidential database that records the risks that credit institutions have with their clients .
This database contains practically all loans, credits, guarantees and risks that financial institutions have with their clients.
Any person, natural or legal, likely to be listed as the holder of a risk reportable to the CIRBE , such as loans, credits, guarantees and risks in general, has the right to obtain this report on the Bank of Spain website.
What is a banking pool?
The banking pool is a detailed report that companies must submit to banks when they need bank financing. This report details the current risks that the company has with all financial institutions, i.e. current loans, credit policies, leases, guarantees, etc.
What information should the banking pool include?
The banking pool must reflect in detail all the financial sources available to the company. More specifically, it must reflect the following:
The bank pool is usually prepared in a spreadsheet . To facilitate its preparation, we provide you with some tips:
Keep your accounting up to date . If you keep your accounting up to date, the accounting accounts for bank liabilities will reflect the current risks with each financial institution and it will be easier for you to update your banking pool.
Keep an updated bank pool template . It should reflect the initial amounts granted for your financial liabilities and the due dates for each of them. This way you will only have to update the outstanding balance of your financial liabilities.
Develop the accounting records for your bank liabilities to facilitate the identification of each source of financing. This will make it easier for you to draw up the banking pool and record your loans and credits.
Export a balance sheet of your short- and long-term bank liabilities to Excel . This way, you can quickly reflect current risks in the bank pool if you keep your accounting up to date.
Compare your accounting data with the data in the online banking of the banks you work with. This will help you correct any errors you may have in your accounting.
Compare your banking pool with the CIRBE . Please note that there may be minor differences, which we will discuss below.
Sage 50 helps you with your company's accounting, making it easier for you to create your bank account.
Does the banking pool have to coincide with CIRBE?
The banking pool does not have to coincide with CIRBE, but the differences must be minimal.
In order to compare CIRBE and the banking pool, the following must be taken into account:
Accounting must be complete and free of any error that distorts its true image , especially with regard to the accounting of liabilities with credit institutions.
All operations must be recorded up to the month in which they are compared with the CIRBE.
Even if all transactions are perfectly recorded, there may be different accounting criteria for the long and short term that make reconciliation difficult.
The CIRBE does not include operations whose aggregate risk does not exceed 1,000 euros in an entity , so this is where we can find more differences. In the CIRBE, risks that we have contracted below this amount and that we have accounted for may not be declared.
In any case, if the photo is not identical, it should be as similar as possible, since risk analysts at financial institutions will quickly identify what may be an error and what could be a manipulation or distortion of the banking pool.