LMA asks EBA for more time on new regs

By Mike Turner
01 Oct 2019

The Loan Market Association (LMA) is lobbying the European Banking Authority (EBA) for an extension to the proposed June 2020 deadline for the regulator’s implementation of its guidelines on loan origination and monitoring, with the industry body claiming financial institutions need longer to implement the new procedures.

The EBA has released its draft guidelines to the market for consultation, with the deadline for responses passing on Monday. The guidelines specify the internal governance arrangements for banks in granting and monitoring credit facilities throughout their life cycle.

These include introducing requirements for borrowers’ creditworthiness assessments and aligning ...

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