European Council adopts exceptional rules to facilitate bank lending in the EU

The EU is temporarily adapting banking rules in order to maximise the capacity of banks to lend money and support households and businesses to recover from the COVID-19 crisis. The banking package adopted today provides targeted and exceptional legislative changes to the capital requirements regulation (CRR 2). These changes will allow credit institutions to fully play their … Continue reading European Council adopts exceptional rules to facilitate bank lending in the EU

New guidance for conveyancers underpins efforts to kickstart housing market

The Law Society of England and Wales unveiled a guidance for conveyancers to support government plans to re-open the housing market, enabling people to move home safely. The collaborative sector guide sets out how the legal aspects of home moving can take place while complying with social distancing measures and public health guidance. The impact … Continue reading New guidance for conveyancers underpins efforts to kickstart housing market

A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders

In 2007, Ms Anica Milivojević, a Croatian national, concluded with Raiffeisenbank, which has its registered office in Austria, a non-renewable credit agreement in the sum of €47 000 in order to have renovation work carried out in her home, more particularly to create apartments in it for letting. The loan was taken out using an … Continue reading A national law cannot invalidate, by a retroactive, general and automatic rule, credit agreements concluded with foreign lenders