Regulatory Alerts2024-12-24
Added · Updated
CSSF Circular 24/869 Update of Circular 17/651 on Consumer Credit Agreements for Residential Property
The CSSF updates Circular 17/651 to align with EBA Guidelines 2020/06 on loan origination and monitoring, which replace the obsolete 2015/11 guidelines, and EBA Guidelines 2024/10 modifying the 2015/12 guidelines on arrears and foreclosure. The update incorporates requirements from Directive (EU) 2021/2167 regarding renegotiation processes before foreclosure and updates references to outsourcing guidelines. These changes apply to professionals subject to the CSSF's prudential supervision.