Actions listed in the original action plan of September 2015

 

Strengthen local financing networks

Expand possibility for EU countries to authorise credit unions outside the capital requirements directive (CRD) and regulation (CRR)

Progress to date
  • The Commission proposed an amendment to the CRD which empowers the Commission to exempt the entire credit union sector of an EU country from the CRD, upon conditions
Next steps
  • Agreement by the co-legislators

Build EU securitisation markets

Proposal on simple, transparent and standardised (STS) securitisations and revision of the capital calibrations for banks

Progress to date
Next steps

Support bank financing of the wider economy

Consultation on an EU-wide framework for covered bonds and similar structures for SME loans

Progress to date
Next steps

Benchmarking of national loan enforcement frameworks (including insolvency) from a bank creditor perspective

Progress to date
  • The Commission launched a study on outcomes that banks experience under the different national systems in terms of delays, costs and recovery value when managing defaulting loans
Next steps
  • Results of the study expected in Q3 2017
  • Follow-up actions have been introduced in the mid-term review of June 2017. See relevant section below

Actions as set out in the mid-term review of June 2017

Market funding for banks

Amendments to Commission Delegated Regulation to introduce a specific prudential treatment STS securitisation in Solvency II (follow-up action)

Legislative proposal for an EU framework on covered bonds (follow-up action)

PROGRESS TO DATE

Assess the case for European Secured Notes for SME loans and infrastructure loans (follow-up action)

PROGRESS TO DATE

Secondary markets for non-performing loans (NPLs)

Present measures to develop a secondary market for NPLs (priority action)

PROGRESS TO DATE

Launch an impact assessment with a view to considering a possible legislative initiative to strengthen the ability of secured creditors to recover value from secured loans to corporates and entrepreneurs (priority action)

PROGRESS TO DATE

Benchmarking study on outcomes that banks experience under national loan enforcement (including insolvency) systems when managing defaulting loans (follow-up action)

PROGRESS TO DATE