CCD2 — DIRECTIVE (EU) 2023/2225 OF THE EUROPEAN PARLIAMENT AND OF…

CCD2 — 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 · European Union · 32023L2225

621 provisions in 808 nodes · cited by 2 instruments we hold · 142 national measures recorded · 83 provisions hand work to national law

Defined terms · All instruments · Consumer credit information · Internet · Right of withdrawal · Unfair contract terms · admissibility · advertising · alternative dispute resolution · artificial intelligence

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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

Article 1 Subject matter

Article 3 Definitions

Article 4 Conversion of amounts expressed in euro into national currency

Subparagraph

Article 5 Obligation to provide information free of charge to consumers

Subparagraph

Article 6 Non-discrimination

Subparagraph

Article 7 Advertising and marketing of credit agreements

Subparagraph

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

Subparagraph

Article 14 Tying and bundling practices

Article 15 Inferred agreement for the conclusion of any credit agreement or the purchase of ancillary services

Subparagraph

Article 16 Advisory services

Article 17 Ban on unsolicited granting of credit

Subparagraph

Article 18 Obligation to assess the creditworthiness of the consumer

Article 20 Form of the credit agreement

Subparagraph

Article 21 Information to be included in the credit agreement

Article 22 Information regarding the modification of the credit agreement

Article 23 Changes in the borrowing rate

Article 24 Overdraft facilities

Article 25 Overrunning

Article 26 Right of withdrawal

Article 27 Linked credit agreements

Subparagraph

Article 28 Open-end credit agreements

Subparagraph

Article 29 Early repayment

Article 30 Calculation of the annual percentage rate of charge

Subparagraph

Article 31 Measures to limit borrowing rates, annual percentage rates of charge or total costs of credit to the consumer

Subparagraph

Article 32 Conduct of business obligations when providing credit to consumers

Article 33 Knowledge and competence requirements for staff

Subparagraph

Article 34 Financial education

Subparagraph

Article 35 Arrears and forbearance measures

Article 36 Debt advisory services

Subparagraph

Article 37 Admission, registration and supervision of non-credit institutions and non-payment institutions

Article 38 Specific obligations for credit intermediaries

Article 39 Assignment of rights

Subparagraph

Article 40 Out-of-court dispute resolution

Subparagraph

Article 41 Competent authorities

Article 42 Level of harmonisation

Subparagraph

Article 43 Imperative nature of this Directive

Subparagraph

Article 44 Penalties

Subparagraph

Article 45 Exercise of the delegation

Subparagraph

Article 46 Review and monitoring

Article 47 Repeal and transitional provisions

Subparagraph

Article 48 Transposition

Subparagraph

Article 49 Entry into force

Subparagraph

Article 50 Addressees

Subparagraph

Note

ANNEX I

STANDARD EUROPEAN CONSUMER CREDIT INFORMATION (1)

Key information

Part I [Always on the first page of the form]:

Table

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]:

Table

Additional information about the credit agreement

1. Description of the main features of the credit product

Table

2. Costs of the credit

Table

3. Other important legal aspects

Table

Subparagraph

4. Additional information in the case of the distance marketing of financial services

Table

Note

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]:

Table

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]:

Table

Additional information about the credit agreement

1. Description of the main features of the credit product

Table

2. Costs of the credit

Table

3. Other important legal aspects

Table

Subparagraph

4. Additional information in the case of the distance marketing of financial services

Table

Note

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.