On March 22, 2016, the EBA published translations of its final guidelines on product oversight and governance arrangements for retail banking products. The retail banking products included are mortgages, personal loans, deposits, payment accounts, payment services and electronic money. The guidelines are addressed to EU national regulators and financial institutions and require the establishment of product oversight and governance arrangements for the design, bringing to market and review of retail banking products over their lifecycle. The guidelines will apply from January 3, 2017, to all products brought to market after that date as well as to existing products that are significantly changed after that (the EBA has not provided clarification on the meaning of “significantly changed”).

The Translated Guidelines are available at: http://www.eba.europa.eu/regulation-and-policy/consumer-protection-andfinancial-innovation/guidelines-on-product-oversight-and-governance-arrangements-for-retail-banking-products/- /regulatory-activity/consultation-paper