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The Joint Committee of the three European Supervisory Authorities (EBA, EIOPA and ESMA) published today a consultation paper on draft Guidelines for regulating cross-selling practices in the financial sector across the EU. These guidelines establish a coherent and effective approach in supervising firms that offer cross-selling options, so as to enhancing protection of EU customers. The consultation will run until 22 March 2015.

The European Banking Authority (EBA) published today its final Guidelines on the security of internet payments, which set the minimum security requirements that Payment Services Providers in the EU will be expected to implement by 1 August 2015. Concerned about the increase in frauds related to internet payments, the EBA decided that the implementation of a more secure framework for internet payments across the EU was needed. These Guidelines are based on the technical work carried out by the European Forum on the Security of Retail Payments (SecuRe Pay).

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.