The European Banking Authority (EBA) launched today 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 consultation runs until 19 July 2023.
In order to protect the integrity of the market and to promote trust, it is important to ensure that the management or administrative organ of a credit servicer, as a whole, has sufficiently good repute and adequate knowledge and experience to conduct the business 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 members assessment by credit servicers, taking into account the principle of prop
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