0 the system used by a business to make certain that it gives credit only to customers who are able to pay, and that customers pay on time:
1 a process used by a bank to make certain it lends money only to people or businesses who are able to pay back their loans:
Mr Bond said the bank was seeking to learn the lessons of last year's losses by tightening up on credit control procedures.
2 a set of actions used by a government to reduce the amount of money available for borrowing or spending: