Press Release: Mortgage markets: Commission study shows varying national approach to regulation of ‘non-credit’ institutions

The European Commission published a study on the activities, regulation and supervision of mortgage lenders that are not registered as 'credit institutions' under domestic law. It showed that in the majority of Member States, lenders operating outside the EU legal framework for credit institutions are regulated and supervised by national authorities, and that their national market share is small compared with that of fully-fledged credit institutions. The study will contribute to the Commission's assessment of whether further action in this area is needed at EU level. It was a follow-up to the December 2007 White Paper on the Integration of EU Mortgage Credit Markets. Stakeholders were invited to comment on the study by 28 February 2009.