Mortgage Credit Directive - EBA Guidelines on passport notifications for credit intermediaries has been saved
Mortgage Credit Directive - EBA Guidelines on passport notifications for credit intermediaries
Article 32 of the Mortgage Credit Directive (MCD) provides that passport notifications will need to be exchanged between national authorities competent for the registration and/or supervision of mortgage credit intermediaries across the EU Member States. The European Banking Authority (EBA) Guidelines published on 11 August 2015 formalise the notification process between the national authorities in the home and host Member States.
They will ensure that information on the provision of services and the establishment of branches, as well as on the transmission of notifications, the registrations, and the notifications of changes is shared consistently across the EU.
The Guidelines also include template notification forms for exercising the freedom to provide services and freedom of establishment, as foreseen in Article 32 of the MCD. They apply from 21 March 2016, the transposition date of the MCD.