June 6 2018

Comments on the Proposal for a Directive of the European Parliament and of the Council on the recovery of collateral

The European Commission published its Proposal for a Directive on credit servicers, credit purchasers and the recovery of collateral (COM(2018) 135 final) on 14 March 2018. The German Banking Industry Committee (GBIC) considers that the proposal will not be able to eliminate the problem of prolonged proceedings to enforce loan collateral without a considerable improvement in the judicial systems of the Member States. In its comments the GBIC evaluates individual provisions of the proposal and suggests amendments.

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