Banking Archives

Licence requirement for credit service providers – services for non-performing loans now require a licence

When the Secondary Credit Market Act (Kreditzweitmarktgesetz) came into force on 30 December 2023, services relating to non-performing loans, i.e. loans that are no longer being settled or are at risk of default, will require a licence. Companies that already provide credit services today had to register with BaFin in February and state that they will continue to provide these services and now have until April to submit a licence application. A transitional regulation will then apply to them, under which the services can initially still be provided without a licence. In addition, the sale of NPLs by credit institutions [...]

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ESG, home office and real estate transactions – BaFin publishes 7th MaRisk amendment

The German Federal Financial Supervisory Authority (“BaFin“) published the seventh amendment to the Minimum Requirements for Risk Management of Banks (“MaRisk“) on June 29, 2023.
The MaRisk codify BaFin’s administrative practice on risk management for German banks, in particular with respect to business organization and outsourcing, and in doing so substantiates the statutory requirements of Section 25a of the German Banking Act (“KWG“).
The amendments range from requirements of the European Banking Authority (“EBA“) for lending and monitoring to exceptions for securities trading in the home office and the managing of ESG and real estate risks.

Loans: [...]

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Licence requirement for credit service providers – services for non-performing loans now require a licence

ESG, home office and real estate transactions – BaFin publishes 7th MaRisk amendment

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