EBA Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of credit servicers, as a whole, under Directive (EU) 2021/2167
On 15 December 2023, the European Banking Authority (EBA) has issued Guidelines (EBA/GL/2023/09) on the assessment of adequate knowledge and experience of the management or administrative organ of credit servicers, as a whole, under Directive (EU) 2021/21671.
The Directive was implemented by an act that entered into force on 26 April 2025. The FIN-FSA has announced it will comply with the Guidelines.
In accordance with Article 16(3) of the EBA Regulation2, competent authorities and financial institutions must make every effort to comply with EBA guidelines.
Subject matter
The Guidelines specify the requirements under Article 5(1)(c) of Directive (EU) 2021/2167 regarding the adequate knowledge and experience of the management or administrative organ, as a whole, of credit servicers, including the criteria for the assessment and the assessment process.
The Guidelines apply to all credit servicers of a creditor’s right under a non-performing credit agreement, or of the non-performing credit agreement itself, issued by a credit institution established in the Union. The Guidelines do not apply to entities listed in Article 2(5)(a) of Directive (EU) 2021/2167.
The Guidelines are addressed to credit servicers, competent authorities as referred to in Article 21(3) of Directive (EU) 2021/2167 and competent authorities as defined in Article 4(2) of the EBA Regulation to the extent that those authorities have been designated as competent for ensuring the application and enforcement of those provisions of the Directive to which the Guidelines relate.
Entry into force
The Guidelines apply as of 26 April 2025.
For further information, please contact
Paavo Pirttisalo, Legal Advisor, telephone +358 9 183 5273 or paavo.pirttisalo(at)fiva.fi
Appendices
- EBA Guidelines on the assessment of adequate knowledge and experience of the management or administrative organ of credit servicers, as a whole, under Directive (EU) 2021/2167 (EBA/GL/2023/09)
- FIN-FSA website: Guidelines of the European Supervisory Authorities
1Regulation (EU) 2021/2167 of the European Parliament and of the Council of 24 November 2021 on credit servicers and credit purchasers and amending Directives 2008/48/EC and 2014/17/EU
2EBA Regulation (EU) No 1093/2010