News & Analysis as of September 23, 2024

European Union › Credit

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The European Union is an economic and political partnership comprised of 27 nations within the Eurozone. The EU was established in 1948 to promote stability and cooperation among member states in the aftermath of WWII. The EU maintains a common currency as well as several intranational institutions, including the European Parliament and the European Commission. less -

Private Credit Deep Dives – Portability (Europe)

Proskauer Rose LLP on 9/13/2024

One of the foundational provisions negotiated in almost every European leveraged loan agreement is the “Change of Control” definition and associated clauses. This provision is crucial because it directly impacts the risk...more

AIFMD - Review: Geplante Änderungen der AIFM-Richtlinie – Auswirkungen auf Kreditfonds

Dechert LLP on 12/5/2023

Der aktuelle Stand im EU-Normgebungsverfahren - Der Europäische Rat hat am 6. November 2023 seine mit Spannung erwartete finale Fassung des Beschlusstextes zur Änderung der AIFMD- und der OGAW-Richtlinie (AIFMD II) in...more

ECB Stress Test: Bank’s Credit Risk Doubles by 2030 under Slower Climate Transition

Cadwalader, Wickersham & Taft LLP on 10/27/2023

In September 2023, the European Central Bank (ECB) published its second economy-wide stress test, shedding light on the credit risks that European banks may face as a result of the ongoing climate transition....more

EU consumer credit legislation in the digital era: Council of EU adopts CCD II

Hogan Lovells on 10/17/2023

The EU has adopted the final text of the Directive on consumer credits to revise and replace the Consumer Credit Directive (2008/48/EC) (CCD II). The next step will be publication in the Official Journal of the EU and then...more

EU Regulatory Developments on Credit Markets

Akin Gump Strauss Hauer & Feld LLP on 8/14/2023

What’s New? A new European Union (EU) Directive on Credit Servicers and Credit Purchasers (the Directive) requires investors who acquire, manage, or sell non-performing loans (NPLs), issued by EU-authorised credit...more

Impact of sanctions on payment obligations

A&O Shearman on 5/30/2023

One of the many legal consequences of Russia’s full-scale invasion of Ukraine in February last year was that businesses were faced with having to analyse the exact remit of sanctions laws and the extent to which they caught...more

Consumer finance regulatory news, July 2020

Hogan Lovells on 7/9/2020

Recent regulatory developments of interest to financial institutions with focus on consumer finance. Includes further COVID-19 support for customers, an FCA update on bank overdraft pricing decisions, and more....more

European Banking Authority Publishes Question and Answer Relating to Originator Risk Retention Holders in Securitisations

Cadwalader, Wickersham & Taft LLP on 9/17/2019

On 13 September 2019, the European Banking Authority (the “EBA”) updated its guidance in respect of the Securitisation Regulation[1] by publishing an answer to a question submitted to it in November 2018 by the Association...more

Financial Regulatory Observer – March 2019: EU Regulatory Capital Wall Chart

White & Case LLP on 3/26/2019

Essential features of bank capital regulation across Europe in one handy wall chart. Regulatory capital requirements for prudentially supervised financial services companies across Europe are complex and changing rapidly....more

Europe reaches for a new normal on NPLs - Will recent regulatory developments have their desired impact on the NPL market across...

White & Case LLP on 3/16/2019

NPLs are a hot topic, high on the European supervisory authorities' agenda. Legislative and prudential requirements to reduce NPLs are rapidly evolving. In March of 2018, the EC published a package of reforms aimed at...more

European Banking Authority Proposes Extending the Scope of the Complaints-Handling Guidelines

A&O Shearman on 4/16/2018

The European Banking Authority has published proposals to extend the Joint Committee Guidelines on complaints-handling for the securities and banking sectors to the new institutions established under the revised Payment...more

European Central Bank Consults on Guide to Internal Models

A&O Shearman on 4/16/2018

The European Central Bank has begun a consultation on the first chapter of a proposed guide to internal models. The Capital Requirements Regulation requires the ECB to assess and grant permission for banks directly supervised...more

EU Authority Publishes Advice, Technical Standards and Guidelines under EU Money Market Funds Regulation

A&O Shearman on 11/21/2017

The European Securities and Markets Authority has published technical standards, technical advice and Guidelines under the Money Market Funds Regulation. These are: final draft Implementing Technical Standards providing a...more

Investment Funds Update: Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Dechert LLP on 6/26/2017

AMF Priorities in the EMIR Review - The Autorité des Marchés Financiers (the “AMF”, the French financial markets authority) published two position papers on 2 May 2017 relating to the EMIR review...more

ECB Seeks to Curb Banks' Appetite for Leveraged Finance Risk

Jones Day on 6/13/2017

Subsequent to the close of the consultation period following the ECB's publication of the draft guidance, the ECB issued the final guidance to banks on leveraged transactions ("Guidance") on May 16, 2017. The Guidance applies...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 5/27/2016

ECB Publishes Public Consultation - The European Central Bank ("ECB") has published a Public Consultation on a draft Addendum to the ECB Guide on options and discretions available in Union law. ...more

Investment Funds Update - Europe: Legal and regulatory updates for the funds industry from the key asset management centres and...

Dechert LLP on 3/21/2016

Investment Statistics as of 31 January 2016 - The German Investment Fund Association BVI issued its latest investment statistics report dated 31 January 2016, giving an overview of the net assets and net sales within the...more

Orrick's Financial Industry Week in Review

Orrick, Herrington & Sutcliffe LLP on 10/28/2015

Barclays and Wachovia Settle with NCUA - On October 19, 2015, Barclays PLC and Wachovia Capital Markets LLC agreed to pay $325 million and $53 million, respectively, to settle claims brought by the National Credit Union...more

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European Union › Credit

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