Credit
On 31 March 2011 the European Commission published a proposal for a Directive on credit agreements relating to residential property. This text will apply to lenders and credit intermediaries (prudential and supervisory requirements). Some provisions of the proposed Directive will be supplemented by detailed implementing measures that will be drafted together by the Commission and the European Banking Authority.
The proposed Directive was preceded by a 2009 Commission’s study aimed at analysing the EU credit intermediation market, reviewing the regulatory framework in which credit intermediaries operate, and examining possible consumer detriment, and a 2009 Commission’s public consultation and public hearing on “responsible lending and borrowing” in which BIPAR participated actively. The European Parliament also declared an early interest in this dossier, by hosting a workshop on 26 January 2011 on responsible lending and borrowing.
BIPAR response to the European Commission’s consultation on responsible lending & borrowing (August 2009) ►
