Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 Octo... (32023L2225)
Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers and repealing Directive 2008/48/EC
- DIRECTIVE (EU) 2023/2225 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL
- of 18 October 2023
- on credit agreements for consumers and repealing Directive 2008/48/EC
- CHAPTER I
- GENERAL PROVISIONS
- Article 1
- Subject matter
- Article 2
- Scope
- Article 3
- Definitions
- Article 4
- Conversion of amounts expressed in euro into national currency
- Article 5
- Obligation to provide information free of charge to consumers
- Article 6
- Non-discrimination
- CHAPTER II
- INFORMATION TO BE PROVIDED PRIOR TO THE CONCLUSION OF THE CREDIT AGREEMENT
- Article 7
- Advertising and marketing of credit agreements
- Article 8
- Standard information to be included in advertising of credit agreements
- Article 9
- General information
- Article 10
- Pre-contractual information
- Article 11
- Pre-contractual information with regard to credit agreements referred to in Article 2(6) or (7)
- Article 12
- Adequate explanations
- Article 13
- Personalised offers on the basis of automated processing
- CHAPTER III
- TYING AND BUNDLING PRACTICES, INFERRED AGREEMENT, ADVISORY SERVICES AND UNSOLICITED GRANTING OF CREDIT
- Article 14
- Tying and bundling practices
- Article 15
- Inferred agreement for the conclusion of any credit agreement or the purchase of ancillary services
- Article 16
- Advisory services
- Article 17
- Ban on unsolicited granting of credit
- CHAPTER IV
- ASSESSMENT OF CREDITWORTHINESS AND DATABASE ACCESS
- Article 18
- Obligation to assess the creditworthiness of the consumer
- Article 19
- Databases
- CHAPTER V
- FORM AND CONTENT OF CREDIT AGREEMENTS
- Article 20
- Form of the credit agreement
- Article 21
- Information to be included in the credit agreement
- CHAPTER VI
- MODIFICATIONS OF THE CREDIT AGREEMENT AND CHANGES IN THE BORROWING RATE
- Article 22
- Information regarding the modification of the credit agreement
- Article 23
- Changes in the borrowing rate
- CHAPTER VII
- OVERDRAFT FACILITIES AND OVERRUNNING
- Article 24
- Overdraft facilities
- Article 25
- Overrunning
- CHAPTER VIII
- WITHDRAWAL, TERMINATION AND EARLY REPAYMENT
- Article 26
- Right of withdrawal
- Article 27
- Linked credit agreements
- Article 28
- Open-end credit agreements
- Article 29
- Early repayment
- CHAPTER IX
- ANNUAL PERCENTAGE RATE OF CHARGE AND MEASURES TO LIMIT RATES AND COSTS
- Article 30
- Calculation of the annual percentage rate of charge
- Article 31
- Measures to limit borrowing rates, annual percentage rates of charge or total costs of credit to the consumer
- CHAPTER X
- CONDUCT OF BUSINESS OBLIGATIONS AND REQUIREMENTS FOR STAFF
- Article 32
- Conduct of business obligations when providing credit to consumers
- Article 33
- Knowledge and competence requirements for staff
- CHAPTER XI
- FINANCIAL EDUCATION AND SUPPORT TO CONSUMERS IN FINANCIAL DIFFICULTIES
- Article 34
- Financial education
- Article 35
- Arrears and forbearance measures
- Article 36
- Debt advisory services
- CHAPTER XII
- CREDITORS AND CREDIT INTERMEDIARIES
- Article 37
- Admission, registration and supervision of non-credit institutions and non-payment institutions
- Article 38
- Specific obligations for credit intermediaries
- CHAPTER XIII
- ASSIGNMENTS OF RIGHTS AND DISPUTE RESOLUTION
- Article 39
- Assignment of rights
- Article 40
- Out-of-court dispute resolution
- CHAPTER XIV
- COMPETENT AUTHORITIES
- Article 41
- Competent authorities
- CHAPTER XV
- FINAL PROVISIONS
- Article 42
- Level of harmonisation
- Article 43
- Imperative nature of this Directive
- Article 44
- Penalties
- Article 45
- Exercise of the delegation
- Article 46
- Review and monitoring
- Article 47
- Repeal and transitional provisions
- Article 48
- Transposition
- Article 49
- Entry into force
- Article 50
- Addressees
- ANNEX I
- STANDARD EUROPEAN CONSUMER CREDIT INFORMATION
- (1)
- Key information
- Part I
- [Always on the first page of the form]:
- Part II
- [If following elements cannot be displayed in a prominent way on one page, they shall be displayed in the first part of the form on the second page]:
- Additional information about the credit agreement
- 1.
- Description of the main features of the credit product
- 2.
- Costs of the credit
- 3.
- Other important legal aspects
- 4.
- Additional information in the case of the distance marketing of financial services
- ANNEX II
- EUROPEAN CONSUMER CREDIT INFORMATION
- (1)
- Consumer credit offered by certain credit organisations (Article 2(6) of Directive (EU) 2023/2225 of the European Parliament and of the Council
- (2)
- )
- Debt conversion (Article 2(7) of Directive (EU) 2023/2225)
- Key information
- Part I
- [Always on the first page of the form]:
- Part II
- [If the following elements cannot be displayed in a prominent way on one page, they shall be displayed in the first part of the form on the second page]:
- Additional information about the credit agreement
- 1.
- Description of the main features of the credit product
- 2.
- Costs of the credit
- 3.
- Other important legal aspects
- 4.
- Additional information in the case of the distance marketing of financial services
- ANNEX III
- I. The basic equation expressing the equivalence of drawdowns on the one hand and repayments and charges on the other.
- II. The additional assumptions for calculating the APR shall be as follows.
- ANNEX IV
- Correlation table
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