Decision on specifying the benchmark rate under the Mortgage Credit Directive

  • Status: Adopted and published in the Official Journal of the EU

The Mortgage Credit Directive (MCD) requires creditors to create two illustrative examples in the European Standardised Information Sheet (ESIS) for variable rate mortgages, including a warning that the variability could affect the actual level of the Annual Percentage Rate of Charge (APRC). The MCD provides that in certain circumstances the two illustrative examples are to be calculated by creditors using a benchmark rate specified by the EBA. In this Consultation Paper, the EBA sets out its proposal for calculating the EBA benchmark rate to be used on those circumstances. To that end, the EBA has developed a formula to calculate the rate and would now like to hear the views from consumer and industry stakeholders on the approach it is proposing.

Summary of document history

Previous versions Current version Ongoing versions

Consultation on the benchmark rate under the Mortgage Credit Directive

  • Status: Closed
  • Deadline: 20 NOVEMBER 2015
BSG response to Consultation Paper (EBA-CP-2015-16)- 20 November 2016

(138.48 KB - PDF) Last update 22 March 2016

Consultation paper

(317.37 KB - PDF) Last update 12 October 2015


The form is now closed.

Press contacts

Franca Rosa Congiu