Regulatory Alerts2015-03-02
Recommendation 2015-R-04 of March 2, 2015, on the marketing to individuals of loans involving exchange rate risk, amended on December 6, 2019
The French Prudential Control and Resolution Authority (ACPR) issues this recommendation to ensure that credit institutions and intermediaries provide clear, sincere, and transparent information to individuals regarding loans denominated in foreign currencies. It mandates specific best practices for advertising, pre-contractual explanations, and annual updates to guarantee borrowers fully comprehend the exchange rate risks and financial impacts. The document requires entities to justify their efforts in ensuring borrowers understand these risks and applies to all marketing acts occurring after its publication date.
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