2015年-EBA欧洲银行管理局_EBA_Consumer_Trends_Report_2015_42页_1mb

EBA Consumer Trends Report 2015 Summary

Core Content

The European Banking Authority (EBA) publishes an annual Consumer Trends Report to monitor consumer trends and financial innovation across the EU. The 2015 report outlines key consumer issues, regulatory actions, and future work plans based on data from national supervisory authorities (NSAs), the EBA's Banking Stakeholder Group (BSG), and other relevant sources.

The report focuses on eight key trends and annually recurring topics that are central to the EBA's consumer protection mandate. These include:

• Household indebtedness
• Transparency and comparability of banking fees
• Innovation in payments
• Structured deposits
• Commercial selling practices
• Use of consumer data by financial institutions
• Alternative financial services providers
• Interest rates and their impact on consumer contracts

Main Topics and Key Findings

1. Household Borrowing and Mortgages

• Outstanding mortgage amounts in the EU reached EUR 5,735 billion at the end of 2014, with a 3.2% increase from 2013.
• Mortgage lending is expected to continue growing due to low interest rates, which may increase consumer risks such as excessive loan-to-value (LTV) and loan-to-income (LTI) ratios, long repayment periods, negative equity loans, and unfair treatment of borrowers in arrears.
• EBA actions: Finalised Regulatory Technical Standards (RTS) on minimum professional indemnity insurance (PII) for mortgage intermediaries, issued draft guidelines on creditworthiness and arrears, and is working on further guidelines for implementation in 2016.
• National actions: Some MS introduced APR caps, recommended LTV ratios below 90%, and enhanced transparency in mortgage contracts with interest rate floor clauses.

2. Consumer Credit

• Outstanding consumer credit in the EU reached EUR 808 billion at the end of 2014, up 2.2% from 2013.
• Most MS saw a decline in consumer credit, but one MS reported a significant increase.
• The EBA has limited regulatory authority over this market, as it falls under the Consumer Credit Directive, and only intervenes when credit institutions are involved.

3. Payment Accounts and Fees

• The Payment Accounts Directive (PAD) was adopted in July 2014 to improve fee transparency and promote account switching.
• The EBA is working on implementing the PAD, including the development of standardised fee disclosure documents.
• Some MS introduced basic accounts with minimal features to increase accessibility and awareness of account costs.

4. Payment Methods

• Traditional methods (cash, cards, cheques, bank transfers) are still widely used, though card-based payments have increased.
• Non-traditional methods (mobile payments, e-wallets) are growing due to smartphone adoption and public interest in digital technologies.
• Virtual currencies are a concern due to their potential risks, including money laundering and financial integrity issues. The EBA issued an opinion in June 2014 urging caution and regulation.

5. Crowdfunding

• Lending-based crowdfunding is growing in some MS, but remains limited in others due to restrictions on non-bank entities.
• The EBA issued an opinion in February 2015 recommending regulatory convergence to avoid fragmentation and arbitrage.
• The EBA and ESMA conducted an analysis of crowdfunding risks and benefits, focusing on product oversight and governance.

6. Mis-selling of Products

• Mis-selling practices have caused significant consumer harm, prompting the EBA to issue a consultation paper on Product Oversight and Governance (POG) in November 2014.
• The EBA, along with EIOPA and ESMA, issued a reminder note on self-placements, highlighting risks of conflicts of interest and unfair sales practices.
• Some MS are examining financial incentives for sales staff and their impact on mis-selling.

7. Financial Literacy and Comparison Websites

• The EBA has a mandate to promote financial literacy, but has not yet taken specific actions due to limited legal authority.
• Comparison websites are important tools for consumers, but the EBA has not yet developed detailed guidance on their use.

8. Commercial Selling Practices and Consumer Data Use

• Commercial selling practices, particularly remuneration and incentives, are a key driver of mis-selling.
• The commercial use of consumer data by financial institutions is increasing, raising concerns about privacy and transparency.
• The EBA is monitoring these practices and working with NSAs to ensure responsible and transparent operations.

Key Regulatory Actions and Initiatives

• The EBA is working on final guidelines for mortgage creditworthiness assessments and arrears handling to be implemented in 2016.
• It is also developing guidelines on payment security as part of the PSD2 transposition.
• The EBA issued an opinion on virtual currencies in June 2014, recommending caution and regulation.
• The Payment Accounts Directive (PAD) is being implemented, with a focus on fee transparency and account switching.

Future Work

• The EBA will use the findings from the 2015 report to shape its 2016 work programme, which will be published in autumn 2015.
• The report highlights the need for regulatory convergence in areas like crowdfunding and payment services to ensure a level playing field across the EU.
• The EBA is expected to continue monitoring and addressing consumer risks related to debt, fees, and financial innovation.

Additional Topics Identified for 2015

• Indebtedness: Rising household debt levels are a concern, particularly in the context of low interest rates.
• Transparency in banking fees: NSAs have introduced measures to increase clarity and comparability of fees.
• Innovation in payments: Mobile and digital payment methods are evolving rapidly, requiring ongoing monitoring.
• Structured deposits: These products are becoming more popular as consumers seek higher returns in a low-interest environment.
• Alternative financial services providers: These entities are entering the market, challenging traditional banks and requiring new regulatory considerations.
• Interest rates: Low interest rates are affecting consumer contracts, with potential implications for debt and savings.

Conclusion

The EBA's 2015 Consumer Trends Report underscores the importance of consumer protection, financial literacy, and regulatory convergence in the evolving financial landscape of the EU. The report provides a detailed overview of the trends, actions taken, and future work plans, reflecting the EBA's ongoing commitment to monitoring and addressing key consumer issues.