On November 10, 2014, the European Banking Authority (“EBA”) launched a consultation on proposed Guidelines for product oversight and governance arrangements for retail banking products. The Guidelines cover mortgages, loans, deposits, credit cards, payment services, payment accounts and electronic money  in the retail sector. The Guidelines, which are addressed to EU national regulators, require the establishment of product oversight and governance arrangements for the making and distribution of retail banking products as well as reviews throughout the lifecycle of the products. The EBA is expected to publish final guidelines in Q2 2015. The proposed Guidelines are expected to apply from April 1, 2016. Responses to the consultation are due by February 10, 2015.

The consultation paper is available at: