On 24 July 2024, the European Banking Authority (EBA) issued a final report on EBA guidelines amending the Joint Committee guidelines on complaints handling for the securities and banking sectors.
The guidelines amend the Joint Committee guidelines on complaints handling for the securities and banking sectors to specify the requirement in relation to credit servicers to establish and maintain effective and transparent procedures for the handling of complaints from borrowers in accordance with Article 24(1) of Directive (EU) 2021/2167. Some non-substantive changes have also been introduced to the Joint Committee guidelines to keep the complaints handling requirements up to date, in light of the amendments made to the EBA regulation in 2020 and the repeal of the 2018 EBA guidelines which was extending the Joint Committee guidelines to new institutions under the Payment Services Directive 2 and/or the Mortgage Credit Directive.
Next steps
The draft guidelines will be translated into the official EU languages and published on the EBA’s website.
The deadline for Member State competent authorities to report whether they comply with the guidelines will be two months after the publication of the translations.
The guidelines will apply from 3 months after the entry into force of the proposed Payment Services Regulation (PSR), which is expected sometime in 2025.