AFME respond to EBA Draft on RTS for contractual recognition of stay powers

Industry News | 17/08/20

Responding to the European Banking Authority (EBA) consultation on draft regulatory technical standards (RTS) for contractual recognition of stay powers, the Association for Financial Markets in Europe (AFME) states that it does not believe that mandatory elements as drafted are required to achieve the objective and are therefore disproportionate. It also does not agree with the proposed mandatory components of the contractual term as currently prescribed.