2017年-EBA欧洲银行管理局_Consumer_Trends_Report_2017_30页_656kb

EBA Consumer Trends Report 2017 Summary

Core Content

The EBA Consumer Trends Report (CTR) 2017 provides an overview of consumer trends and issues in the European Union (EU) related to retail banking products and services. It is part of the EBA's mandate to monitor financial innovation and consumer protection. The report includes both ongoing monitoring of core banking products and an analysis of topical issues identified by competent authorities (CAs) and consumer associations.

Main Products and Services Covered

The report focuses on the following key retail banking products and services:

• Mortgages
• Consumer credit
• Payment accounts
• Deposits
• Payment services (including debit and credit cards, electronic money)

Key Trends and Issues

1. Indebtedness

• Trend: Consumers in most EU Member States (MS) have increased their level of debt over recent years.
• Reasons: Low interest rates, business practices of lenders, and market innovations.
• Concerns: Potential impact of future interest rate hikes, increased loan-to-value and debt-to-income ratios, and the risk of household arrears.

2. Banking Fees and Costs

• Trend: Financial institutions are increasingly relying on fees and charges to generate revenue due to declining interest income.
• Issues: Lack of transparency in fee information, introduction or increase in fees, and complex fee structures.
• Regulatory Action: The Payment Accounts Directive (PAD) requires MS to introduce measures for fee transparency and comparability.

3. Selling Practices

• Trend: Financial institutions use incentives and bundled products to attract customers.
• Issues: Mis-selling, unsuitable contractual agreements, and unnecessary product purchases leading to financial loss.
• Regulatory Action: The EBA and CAs have taken measures to address these issues, including the development of regulatory technical standards (RTS).

4. Innovation in Payments

• Trend: Rapid development of new payment solutions and channels.
• Issues: Security risks, complexity of new business models, and consumer data safety.
• Regulatory Action: The EBA has developed RTS on strong customer authentication and secure communication under PSD2.

5. Foreign Currency Loans

• Trend: Consumers with foreign currency loans are facing risks due to currency fluctuations.
• Actions: Some consumers are restructuring or reducing foreign currency borrowing.

6. Alternative Financial Services Providers

• Trend: Crowdfunding is gaining popularity among consumers.
• Issues: Lack of awareness about authorisation status, safeguards, and associated fees.

7. Innovative Uses of Consumer Data

• Trend: Financial institutions use consumer data for purposes beyond the original intent.
• Issues: Promotion of unwanted products and data sale to third parties.

Regulatory and Policy Context

• The Mortgage Credit Directive (MCD), effective since 2016, aims to improve transparency and consumer protection in mortgage lending.
• The Payment Accounts Directive (PAD), effective since 2016, promotes access to payment accounts and transparency in fees.
• The Payment Services Directive (PSD2), effective from 2018, fosters competition, innovation, and security in payment services.
• The Fourth Anti-Money Laundering Directive (4AMLD) and Key Information Documents (KIDs for PRIIPs) are also referenced in the context of consumer data and financial product transparency.

Complaints and Consumer Concerns

Mortgages

• Complaints: Low (10% EU average), with the most common reasons being 'administration' and 'sales and advice'.

Consumer Credit

• Complaints: Very low (4% EU average), mainly due to 'charges and fees' (56% of complaints).

Payment Accounts

• Complaints: Moderate (49% EU average), with 'administration' being the most common issue (46% of complaints).

Payment Services

• Complaints: Relatively high (25% EU average), with 'administration' and 'charges and fees' as the main concerns (49% and 39% respectively).

Deposits

• Complaints: Low (12% EU average), mainly related to 'administration'.

Electronic Money

• Complaints: Insignificant in 2016, but CAs are still assessing risks such as fraud and money laundering.

Summary of EBA's Role

The EBA collects, analyses, and reports on consumer trends and issues in the EU. It also develops regulatory technical standards (RTS) and guidelines to support financial innovation and consumer protection. The report highlights ongoing efforts and measures taken by the EBA and CAs to address consumer detriment in the financial sector.

Conclusion

The CTR 2017 underscores the growing concerns around consumer indebtedness, fee transparency, selling practices, and payment innovations in the EU. It also highlights the need for continued regulatory oversight and consumer education to mitigate risks and ensure fair treatment in financial services.