Fit and proper framework to be extended to cover credit servicers - new EBA Guidelines

The European Banking Authority (EBA) launched a public consultation on its draft Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of credit servicers, as a whole, under the Non-Performing Loans Directive. The Guidelines aim at ensuring that the organs are suitable to conduct the business of the credit servicer in a competent and responsible manner.

The Guidelines specify the criteria for the assessment of the organs’ collective knowledge and experience, which will be performed based on the individual member's assessment by credit servicers, taking into account the principle of proportionality. The consultation runs until 19 July 2023.

In this alert, you will read more about the scope and general description, how often a suitability assessment shall be performed, and how Deloitte can help.