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The European Banking Authority (EBA) published today a consultation paper on draft Guidelines on arrears and foreclosure under the Mortgage Credit Directive (MCD). As foreclosure can have significant consequences for consumers, creditors should implement measures to attempt to resolve with the borrower any payment difficulties before initiating foreclosure proceedings. These draft Guidelines will ensure that such measures are developed and adopted consistently across the European Union. The public consultation will run until 12 February 2015.

The European Banking Authority (EBA) published today a consultation paper on draft Guidelines on creditworthiness assessments under the Mortgage Credit Directive (MCD). These draft Guidelines provide details on how creditors across the EU should assess and verify consumers’ creditworthiness before concluding credit agreements for immovable residential properties. The consultation will run until 12 February 2015.

In accordance with the Markets in Financial Instruments Regulation (MiFIR), the EBA is tasked with monitoring the market for structured deposits across the European Union. In its paper, the EBA proposes a set of criteria and factors and includes explanatory notes to provide the rationale for each deviation from the criteria published by ESMA. The EBA considered that some of those criteria were not applicable to structured deposits, while others needed to be adapted and in some cases, new criteria had to be introduced, so as to take into account characteristics that are specific to structured deposits.

The European Banking Authority (EBA) published today its final technical advice to the Commission laying out criteria and factors for exercising intervention powers on structured deposits. This final technical advice, which has been developed in accordance with the Markets in Financial Instruments Regulation (MiFIR) requiring the EBA to monitor the market for structured deposits, takes into consideration, where appropriate, comments received during a public consultation earlier this year.

The European Banking Authority (EBA) published today a discussion paper on the draft requirements for passport notifications for mortgage credit intermediaries across the EU. The requirements will ensure that information about credit intermediaries that carry out business in one or more Member States is exchanged consistently between the competent authorities of the home Member State and of the host Member State. The paper issued today contains the EBA’s preliminary considerations on the issue. It aims at promoting discussion and gathering preliminary stakeholders’ views at an early stage of the process, so as to inform the upcoming work on the topic. The consultation runs until 12 March 2015.

The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published today a Discussion Paper on Key Information Documents (KIDs) designed to help retail investors in the EU better understand and compare packaged retail and insurance-based investment products (PRIIPs) across the EU. The ESAs are looking for feedback from all concerned stakeholders by 17 February 2015.

The European Banking Authority (EBA) published today a consultation paper on draft Guidelines on product oversight and governance arrangements for retail banking products. The guidelines, which apply to both manufacturers and distributors of retail banking products, aim at ensuring that the interests, objectives and characteristics of consumers are taken into account when such products are designed and brought to market. The consultation will run until 10 February 2015.

The European Banking Authority (EBA) published today a consultation paper on Guidelines on national provisional lists of the most representative services linked to a payment account and subject to a fee. The EU Payment Accounts Directive requires the EBA to develop standardised terminology and information documents related to payment accounts for consumers across the EU. As a first step, the EBA has developed Guidelines to help Competent Authorities identify the most representative services linked to a payment account and subject to a fee in their jurisdictions. The consultation will run until 9 January 2015. The technical standards that will subsequently be developed will allow EU consumers to make better informed decisions when choosing their payment accounts.

The European Banking Authority (EBA) published today a consultation paper on the implementation of its Guidelines on the security of internet payments. These Guidelines are the first output of the joint work undertaken by the EBA and the European Central Bank (ECB) on the security of payment services. The consultation will run until 14 November 2014.

SecuRe Pay forum to provide input for the development of EBA regulatory and supervisory requirements, as well as European Central Bank oversight standards for retail payments. EBA meanwhile publishes consultation paper on the security of internet payments, also based on the SecuRe Pay recommendations.