The European Banking Authority (EBA) today published its final Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of a credit servicer 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.
To protect the integrity of the market and promote trust, it is crucial 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. This will be performed based on the individual members’ assessment by credit servicers, taking into account the principle of proportionality. The Guidelines also spell out the assessment process by credit se
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