The Council and EP have reached trilogue agreement on the Mortgage Credit Directive (MCD). In their respective statements they have highlighted that the MCD will create the framework for a European-wide mortgage market accessible to firms via a European passport. The Directive establishes, among other obligations, that of providing customers with a standardised information sheet (ESIS) and of disclosing links between intermediaries and creditors, so as a general ban on tying practices. The EP plenary and Member States must now vote through the agreed text. (Source: Statement by Commissioner Michel Barnier Following the Agreement in Trilogue on the Mortgages Directive and Home loans: Better Protection for Buyers)