Collateral Directive

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Chapter 33 in EU Banking and Financial Regulation, 2024, pp 361-367 from Edward Elgar Publishing

Abstract: Directive 2002/47/EC of 6 June 2002 on financial collateral arrangements (the ‘Collateral Directive’) lays down a Community regime applicable to financial collateral arrangements and seeks to protect the validity of financial collateral arrangements which are based upon the transfer of the full ownership of financial collateral, such as by eliminating the so-called re-characterisation of such financial collateral arrangements (including repurchase agreements) as security interests. The Collateral Directive aims to establish a pan-EU framework to reduce credit exposure in financial collateral arrangements. These common rules contribute to the effectiveness and integration of European financial markets, reducing credit losses and thereby stimulating cross-border transactions and competitiveness. In particular, close-out netting, substitution and re-use of collateral are facilitated.

Keywords: Law - Academic; Law - Professional (search for similar items in EconPapers)
Date: 2024
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