Traditionally, banks in Europe were the largest providers of debt finance. According to Morgan Stanley, in 2012 banks and banking products accounted for 90%-95% of the market in Europe.
Chevalier & Sciales
The European Securities and Markets Authority has published on
November 16 its final advice to the European Commission on the
detailed rules underlying and implementing the Alternative
Investment Fund Managers Directive.
Loyens & Loeff
Consistent with other Euro-area banks following the 2008
financial crisis, customer deposits represent the single largest
source of funding.
Loyens & Loeff
What licences are required to provide banking
services in your jurisdiction? What activities do they
ELVINGER HOSS PRUSSEN, société anonyme
On 19 December 2018, the CSSF issued Circular 18/705 ("Circular") relating to the general valuation principles, introduced by the Law of 22 June 2018
The Mortgage Credit Directive ("MCD") came into force on 21 March 2014 with the overall aim to create an EU-wide single residential mortgage credit market with a high level of consumer protection.
The Law dated 27 June 2013 relating to the banks issuing mortgage bonds and amending the Law of 5 April 1993 on the financial sector, has been published in the Luxembourg Official Journal on 1st July 20131.
In its Newsletter N°130 dated November 2011 the Luxembourg Financial Sector Regulator (Commission de Surveillance du Secteur Financier, the "CSSF") requires the insertion of a paragraph in the prospectuses of UCITS and UCIs (referred to as "UCI" or "UCIs") newly created as of the date of publication of this Newsletter (i.e. 23rd November 2011).
The Luxembourg law of 17 December 2010 on undertakings for collective investment (the "2010 Law") entered into force on 1 January 2011.
The law dated 20 May 2011 (hereafter the "Law") implements in Luxembourg the European Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (hereafter the "Directive") into the title II of the law dated 10 November 2009 relating to payment services, electronic money institutions and settlement finality in payment and securities settlement systems.