### if , on expiry of the period referred to in paragraph 4 , the european parliament and the council have not adopted a decision granting a new eu guarantee to the eib against losses under its financing operations outside the union , that period shall be automatically extended by six months . ### if , on expiry of the period referred to in paragraph 4 , the european parliament and the council have not adopted a decision granting a new eu guarantee to the eib against losses under its financing operations outside the union , that period shall be automatically extended by twelve months . the commission shall present its proposal for a decision for a new guarantee no less than 18 months in advance of the expiry of this guarantee .


### eib financing operations carried out under this decision shall contribute to the general principles guiding union external action , as referred to in article 21 teu and shall contribute to the implementation of international environmental agreements to which the union is a party . ### eib financing operations carried out under this decision shall always support and contribute to the general principles guiding union external action , as referred to in article 21 teu and shall contribute to the implementation of international commitments and agreements including environmental agreements to which the union is a party .


### eib financing operations carried out under this decision shall contribute to the general principles guiding union external action , as referred to in article 21 teu and shall contribute to the implementation of international environmental agreements to which the union is a party . ### eib financing operations carried out under this decision shall contribute to the general principles guiding union external action , as referred to in article 21 teu and shall contribute to the implementation of international environmental agreements to which the union is a party . the eib governing bodies are encouraged to take the necessary measures to adapt the bank ' s business model , including its resources , local presence and link with beneficiaries , to ensure effectiveness in supporting the eu external policies and to adequately meet the requirements set out in this decision .


### regional integration among countries , including economic integration between pre - accession countries , neighbourhood countries and the union , shall be an underlying objective for eib financing operations within areas covered by the general objectives as defined in paragraph 1 . ### regional integration among countries , including in particular economic integration between pre - accession countries , neighbourhood countries and the union , shall be an underlying objective for eib financing operations within areas covered by the general objectives as defined in paragraph 1 .


### regional integration among countries , including economic integration between pre - accession countries , neighbourhood countries and the union , shall be an underlying objective for eib financing operations within areas covered by the general objectives as defined in paragraph 1 . ### regional integration among countries , including economic integration between pre - accession countries , neighbourhood countries and the union , shall be an underlying objective for eib financing operations within areas covered by the general objectives as defined in paragraph 1 . it should also be ensured that the foreign direct investment , which is supported by the eib , genuinely contributes to economic integration between pre - accession countries , neighbourhood countries and the union .


### in developing countries , as defined in the organisation for economic cooperation and development list of official development assistance recipients , eib financing operations shall contribute indirectly to the objectives of the union policy in development cooperation as referred to in article 208 tfeu . ### in developing countries , as defined in the organisation for economic cooperation and development list of official development assistance recipients , the eib financing operations shall contribute , under the terms laid down in its statute , to the implementation of the measures , adopted by the european parliament and the council , necessary for the implementation of development cooperation policy , within the framework of the principles and objectives of the union ' s external action as referred to in articles 208 and 209 tfeu .


### eib financing operations supporting the objectives provided for in paragraph 1 may include support to investment projects by smes from the union . ### the eib shall endeavour to strengthen the local private sector in beneficiary countries . to ensure that investments in the private sector have the greatest development impact , eib financing operations supporting the objectives provided for in paragraph 1 shall target local companies within developing countries whenever possible , but may also include support to investment projects by smes from the union .


### eib financing operations supporting the objectives provided for in paragraph 1 shall support investment projects in the areas of transport , energy , including renewable energy , energy systems transformation enabling a switch to lower carbon intensive technologies and fuels , energy security and energy infrastructure , including for gas production and transportation to eu energy market , environmental infrastructure , including water and sanitation and green infrastructure , information and communication technology , including telecommunications and broadband network infrastructure , health and education . ### eib financing operations supporting the objectives provided for in paragraph 1 shall support investment projects in the areas of transport , energy , including renewable energy , energy systems transformation enabling a switch to lower carbon intensive technologies and fuels , sustainable energy security and energy infrastructure , including gas production and transportation to eu energy market , electricity transmission infrastructure , in particular interconnections that facilitate the integration of electricity from renewable sources sustainable environmental infrastructure , including water and sanitation and green infrastructure , information and communication technology , including telecommunications and broadband network infrastructure , health and education . priority consideration should be given to infrastructure projects connecting the union and third countries which provide mutual economic , development , social and environmental benefits .


### in line with union and international climate change objectives , before the end of 2016 , the eib , in cooperation with the commission and following a public consultation , shall update its climate change strategy as regards eib financing operations . ### in line with union and international climate change objectives , before the end of 2016 , the eib , in cooperation with the commission and following a public consultation , shall update its climate change strategy as regards eib financing operations . this update shall inter alia integrate concrete actions to phase out financing projects detrimental to the achievement of eu ' s climate objectives and step up efforts to support renewable energy sources and energy efficiency .


### in line with union and international climate change objectives , before the end of 2016 , the eib , in cooperation with the commission and following a public consultation , shall update its climate change strategy as regards eib financing operations . ### in line with union and international climate change objectives , before the end of 2015 , the eib , in cooperation with the commission and following a public consultation , shall update its climate change strategy as regards eib financing operations outside the union . the strategy should integrate concrete actions to phase out financing projects detrimental to the achievement of union ' s climate objectives , step up efforts to support renewable energy sources and energy efficiency , as well as to improve the climate resilience of beneficiary countries , and be subject to consultation with relevant stakeholders .


### the commission shall be empowered to adopt delegated acts in accordance with article 17 concerning amendments to annex iii . the commission ' s decisions shall be based on an overall economic and political assessment , including aspects related to the democracy , human rights and fundamental freedoms as well as the relevant european parliament resolutions and council decisions and conclusions . ### the commission shall be empowered to adopt delegated acts in accordance with article 17 concerning amendments to annex iii . the commission ' s decisions shall be based on an overall economic and political assessment , with significant consideration given in particular to aspects related to democracy , human rights and fundamental freedoms as well as to the relevant european parliament resolutions and council decisions and conclusions .


### the eu guarantee shall cover only eib financing operations carried out in eligible countries that have concluded a framework agreement with the eib establishing the legal conditions under which such operations are to be carried out . ### the eu guarantee shall cover only eib financing operations carried out in eligible countries that have concluded a framework agreement with the eib establishing the legal conditions under which such operations are to be carried out , including environmental , social and human rights standards .


### the commission shall update , together with the eib , the existing regional technical operational guidelines for eib financing operations within one year following the adoption of this decision . ### the commission shall update , together with the eib and in close cooperation with the eeas , the existing regional technical operational guidelines for eib financing operations within one year following the adoption of this decision .


### in updating these guidelines , the commission and the eib shall take into account relevant european parliament resolutions and council decisions and conclusions . the eeas shall also be consulted on policy issues , as appropriate . ### in updating these guidelines , the commission and the eib shall take into account relevant european parliament resolutions and council decisions and conclusions . the eeas shall also be consulted on policy issues , and the eib shall engage with the relevant committees of the european parliament .


### eib financing operations shall be carried out , where appropriate , in cooperation with other european financial institutions and international financial institutions in order to maximise synergies , cooperation and efficiency , to develop jointly innovative financial instruments , to ensure prudent and reasonable sharing of risks and coherent investment project and sector conditionality , and in order to minimise possible duplication of costs and unnecessary overlap . ### eib financing operations shall be carried out , where appropriate , in cooperation with other european multilateral and bilateral financial institutions , international financial institutions and regional development banks in order to maximise synergies , cooperation and efficiency , to develop jointly innovative financial instruments , to ensure prudent and reasonable sharing of risks and coherent investment project and sector conditionality , and in order to minimise possible duplication of costs and unnecessary overlap .


### the eib shall carry out thorough due diligence and , where appropriate in line with union social and environmental principles , require appropriate local public consultation , on development - related aspects of investment projects covered by the eu guarantee . ### the eib shall carry out thorough due diligence and , in line with the principles of union social and environmental legislation , require appropriate local public consultation with all relevant stakeholders , on economic , social , human rights , environmental and development - related aspects of investment projects covered by the eu guarantee .


### the eib shall carry out thorough due diligence and , where appropriate and in line with union social and environmental principles , require appropriate local public consultation , on development - related aspects of investment projects covered by the eu guarantee . ### the eib shall carry out thorough due diligence and , in line with union social and environmental principles and law , require appropriate local public consultation , on development - related aspects of investment projects covered by the eu guarantee , including an assessment of the contribution to the objectives of the union policy on development cooperation , according to article 208 tfeu .


### in addition to the ex - ante assessment of development - related aspects , the eib shall monitor the implementation of financing operations . in particular , it shall require the project promoters to carry out thorough monitoring during project implementation until completion , inter alia , on the development , environmental and human rights impact of the investment project . the eib shall verify the information provided by the project promoters . ### in addition to the ex - ante assessment of development - related aspects , the eib shall monitor the implementation of financing operations . in particular , it shall require the project promoters to carry out thorough monitoring during project implementation until completion , inter alia , on the economic , development , social , environmental and human rights impact of the investment project . the eib shall systematically verify the information provided by the project promoters and make it publicly available after signature if the promoter agrees . where possible , completion reports shall be issued for projects covered by eu guarantees .


### the eib shall establish a comprehensive tracking system of monitoring relative and absolute greenhouse gas emissions reduction throughout significant eib financing operations where emissions are significant and data is available . ### the eib shall establish a comprehensive tracking system of monitoring relative and absolute greenhouse gas emissions reduction throughout eib financing operations , taking into account available data and the precautionary principle and in line with the publicly available eib methodology on ghg assessment .


### for the purposes of the commission ' s reporting referred to in paragraph 1 , the eib shall provide the commission with yearly reports on eib financing operations carried out under this decision including all necessary elements allowing the commission to report in accordance with paragraph 1 . the eib may also provide to the commission additional information relevant for the council and the european parliament to have a comprehensive overview of eib external activity . ### for the purposes of the commission ' s reporting referred to in paragraph 1 , the eib shall provide the commission with yearly reports on eib financing operations carried out under this decision and their contribution to the general principles guiding the union ' s external action including all necessary elements allowing the commission to report in accordance with paragraph 1 . the eib may also provide to the commission additional information relevant for the council and the european parliament to have a comprehensive overview of eib external activity .


### the eib shall continue to provide the european parliament , the council and the commission with all its independent evaluation reports which assess the practical results achieved by the specific activities of the eib under this decision and other external mandates . ### the eib shall continue to systematically provide the european parliament , the council and the commission with all its independent evaluation reports which assess the practical results achieved by the specific activities of the eib under this decision and other external mandates .


### all eib financing operations carried out under this decision , in particular indicating whether an investment project is covered by the eu guarantee ; ### all eib financing operations carried out under this decision , in particular indicating whether an investment project is covered by the eu guarantee and how it contributes to the goals of the external action of the union , noting in particular its economic , social and environmental impact ;


### the eib shall inform olaf immediately when , at any stage of the preparation , implementation or closure of projects subject to the eu guarantee , it detects a potential case of fraud , corruption or other illegal activity that may affect the financial interests of the eu . ### the eib shall inform olaf immediately when , at any stage of the preparation , implementation or closure of projects subject to the eu guarantee , it detects a potential case of fraud , corruption , money laundering or other illegal activity that may affect the financial interests of the eu .


### bangladesh , brunei , cambodia , china , india , indonesia , iraq , laos , malaysia , maldives , mongolia , myanmar , nepal , pakistan , philippines , singapore , south korea , sri lanka , thailand , vietnam , yemen ### bangladesh , brunei , bhutan , cambodia , china , india , indonesia , iraq , laos , malaysia , maldives , mongolia , myanmar , nepal , pakistan , philippines , singapore , south korea , sri lanka , taiwan , thailand , vietnam , yemen


### the financing decisions should take the forms of annual or multiannual action programmes and individual measures when following the planning provided for by the multiannual indicative programming , of special measures where required by unforeseen and justified needs , and of support measures . ### the financing decisions should take the forms of either annual or multiannual action programmes and individual measures when following the planning provided for by the multiannual indicative programming , or special measures where required by unforeseen or justified needs , and of support measures as provided for in article 3 .


### while financing needs of the union ' s external assistance are increasing , the economic and budgetary situation of the union limits the resources available for such assistance . the commission must therefore seek the most efficient use of available resources , in particular by using financial instruments that have a leverage effect . such leverage effect is increased by allowing funds invested and generated by the financial instruments to be used and re - used . ### the commission should aim to create budgetary synergies between national , union , multilateral and international measures and existing instruments by avoiding any potential overlap , and must therefore seek the most efficient use of available resources without compromising the just and fair use of the union ' s resources , in particular by using financial instruments that have a leverage effect , allowing funds invested and generated by the financial instruments to be used and re - used in accordance with the relevant provisions of the financial regulation .


### while financing needs of the union’s external assistance are increasing , the economic and budgetary situation of the union limits the resources available for such assistance . the commission must therefore seek the most efficient use of available resources , in particular by using financial instruments that have a leverage effect . such leverage effect is increased by allowing funds invested and generated by the financial instruments to be used and re - used . ### while financing needs of the union’s external assistance are increasing , the economic and budgetary situation of the union limits the resources available for such assistance . the commission should aim to create budgetary synergies between national , union , multilateral and international measures and existing instruments by avoiding any potential overlap , and must therefore seek the most efficient use of available resources without compromising the just and fair use of the union ' s resources , in particular by using financial instruments that have a leverage effect , allowing funds invested and generated by the financial instruments to be used and re - used in accordance with the relevant provisions of the financial rules .


### the commission shall ensure that actions are implemented in accordance with the objectives of the applicable instrument , and in conformity with an effective protection of the financial interests of the union . the financial assistance provided on the basis of the instruments shall be consistent with the rules and procedures laid down in the financial regulation , which provides the basic financial and legal framework for their implementation . ### the commission shall ensure that actions are effectively and efficiently implemented in accordance with the objectives of the applicable instrument , and in conformity with an effective protection of the financial interests of the union . the financial assistance provided on the basis of the instruments shall be consistent with the rules and procedures laid down in the financial regulation , which provides the basic financial and legal framework for their implementation .


### action programmes and individual measures provided for in paragraph 1 for which the union ' s financial assistance exceeds eur 10 million and special measures for which the union ' s financial assistance exceeds eur 30 million shall be adopted in accordance with the examination procedure referred to in article 15 . ### action programmes provided for in paragraph 1 for which the union ' s financial assistance exceeds eur 10 million shall be adopted in accordance with the examination procedure referred to in article 15 .


### appropriate environmental screening , including for climate change and biodiversity impacts , shall be undertaken at project level including where applicable environmental impact assessment for environmentally sensitive projects , in particular for major new infrastructure . where relevant , strategic environmental assessments shall be used in the implementation of sectoral programmes . the involvement of interested stakeholders in environmental assessments and public access to the results shall be ensured . ### appropriate environmental screening shall be carried out in accordance with the legislation in force and the provisions of directive 2011 / 92 / eu of the european parliament and of the council of 13 december 2011 on the assessment of the effects of certain public and private projects on the environment 1 , ' the environmental impact assessment directive ' . where relevant , strategic environmental assessments shall be used in the implementation of sectoral programmes . the eia shall be made publicly available and used in the decision - making process . ______________ 1 oj l 26 , 28 . 1 . 2012 , p . 26 .


### provided that the activities listed in points , and are related to the general objectives of the applicable instrument implemented through the action , union financing may cover ### provided that the activities listed in points , and are directly linked to the general objectives of the applicable instrument implemented through the action , union financing may cover :


### the biennal report shall contain information relating to the previous year on the measures financed , the results of monitoring and evaluation exercises , the involvement of the relevant partners , and the implementation of budgetary commitments and of payments appropriations . it shall assess the results of the union ' s financial assistance , using as far as possible , specific and measurable indicators of its role in meeting the objectives of the instruments . ### the biennial report shall contain information relating to the previous year on the measures financed , the results of monitoring and evaluation exercises , the involvement of the relevant partners , and the implementation of budgetary commitments and of payments appropriations . it shall assess , with a view to achieving the objectives of each instrument , the complementarity and synergies between the instruments financed under heading 4 of the union ' s budget , and shall assess the results of the union ' s financial assistance on the basis of pre - defined , clear , transparent and measurable indicators .


### no later than 31 december 2017 , a report shall be established by the commission on the achievement of the objectives of each of the instruments by means of result and impact indicators measuring the efficiency of the use of resources and the european added value of the instruments , in view of a decision on the renewal , modification or suspension of the types of actions implemented under the instruments . the report shall , in addition , address the scope for simplification , internal and external coherence , the continued relevance of all objectives , as well as the contribution of the measures to the union priorities for smart , sustainable and inclusive growth . it shall take into account any findings and conclusions on the long - term impact of the instruments . ### no later than 31 december 2017 , a report shall be established by the commission on the achievement of the objectives of each of the instruments and on the overall performance of , and added value afforded by , this regulation , by means of transparent , clear and specific indicators measuring the efficiency of the use of resources and the european added value of the instruments , in view of a decision on the renewal , modification or suspension of the types of actions implemented under the instruments . the report shall , in addition , address the scope for simplification , internal and external coherence , the continued relevance of all objectives , as well as the contribution of the measures to the union priorities for smart , sustainable and inclusive growth . it shall take into account any findings and conclusions on the long - term impact of the instruments .


### prohibit the marketing wine or vine products intended solely for consumption by a vine grower ' s family . ### adopt provisions on wine or vine products intended solely for consumption by a vine grower ' s family .


### in order to ensure that the appropriate beneficiaries and applicants qualify for the aid referred to in article 108 , the commission shall , by means of delegated acts , adopt the conditions for granting aid . in order to ensure that applicants respect their obligations , the commission shall , by means of delegated acts , adopt measures to prevent fraud and irregularities including : the suspension of the right to participate in the aid scheme , the lodging of a security guaranteeing the execution where an advance of aid is paid , and the application of penalties to deter fraudulent behaviour . ### in order to ensure that the appropriate beneficiaries and applicants qualify for the aid referred to in article 108 , the commission shall , by means of delegated acts , adopt the conditions for granting aid . in order to ensure that applicants respect their obligations , the commission shall , by means of delegated acts , adopt the lodging of a security guaranteeing the execution where an advance of aid is paid .


### the supply to children in educational establishments , including nurseries , other pre - school establishments , primary and secondary schools , of products of the fruit and vegetables , processed fruit and vegetables , and bananas sectors ; and ### the supply to children in educational establishments administered or recognised by the member state , including nurseries , other pre - school establishments , primary and secondary schools , of products of the fruit and vegetables , processed fruit and vegetables , and bananas sectors ; and


### the normal renewal of vineyards which have come to the end of their natural life shall not be supported . ### the normal renewal of vineyards which have come to the end of their natural life , in other words the replanting of the same parcel of land with the same variety according to the same system of vine cultivation , shall not be supported . member states may establish further specifications , especially as regards the age of the vineyards replaced .


### save as otherwise provided for in this regulation , directive 2008 / 95 / ec , council directive 89 / 396 / eec , directive 2000 / 13 / ec of the european parliament and of the council and directive 2007 / 45 / ec of the european parliament and of the council shall apply to the labelling and presentation of products falling under their scopes . ### save as otherwise provided for in this regulation , directive 2008 / 95 / ec , council directive 89 / 396 / eec , directive 2000 / 13 / ec of the european parliament and of the council and directive 2007 / 45 / ec of the european parliament and of the council shall apply to the labelling and presentation of products falling under their scopes . the labelling of the products referred to in points 1 to 11 , 13 , 15 and 16 of part ii of annex xii may not be supplemented by any particulars other than those provided for in this regulation unless they satisfy the requirements of article 2 of directive 2000 / 13 / ec . 2 . where one or more of the ingredients listed in annex iiia to directive 2000 / 13 / ec are present in one of the products referred to in annex xii , part ii to this regulation , they must be indicated on the labelling , preceded by the term ' contains ' . for sulphites , the following terms may be used : ' sulphites ' , ' sulfites ' , ' sulphur dioxide ' or ' sulfur dioxide ' . 3 . the labelling obligation referred to in paragraph 2 may be accompanied by the use of a pictogram to be determined by means of an implementing act .


### par dérogation au paragraphe 1 , point a ) , la référence à la catégorie de produit de la vigne peut être omise pour les vins dont l’étiquette comporte le nom d’une appellation d’origine protégée ou d’une indication géographique protégée ### by way of derogation from paragraph 1 , the reference to the category of the grapevine product may be omitted for wines whose labels include the name of a protected designation of origin or a protected geographical indication and for quality sparkling wines whose labels include the term ' sekt ' .


### the following amounts shall be available in the given calendar years : – 2010 : eur 82 110 000 , – from 2011 onwards : eur 122 610 000 . ### the following amounts shall be available in the given calendar years : – 2009 : eur 40 660 000 , – 2010 : eur 82 110 000 , – from 2011 onwards : eur 122 610 000 .


### the carcasses shall be classified by way of application of the provisions in point a . iii . mutatis mutandis . however , the term ' round ' in point a . iii . 1 and in rows 3 and 4 of the table under point a . iii . 2 . shall be replaced by the term ' hindquarter ' . ### the carcasses shall be classified by way of application of the provisions in point a . iii . mutatis mutandis . however , the term ' round ' in point a . iii . 1 and in rows 3 and 4 of the table under point a . iii . 2 . shall be replaced by the term ' hindquarter ' . 2 . by way of derogation from point 1 , for lambs of less than 13 kg carcass weight , member states may be authorised by the commission , by means of an implementing act without the assistance of the committee referred to in article 323 , to use the following criteria for classification : carcass weight ; colour of meat ; fat cover .


### a series of problems in eu mortgage markets associated with irresponsible lending and borrowing at the pre - contractual stage and the potential scope for irresponsible behaviour by credit intermediaries and non - credit institutions have been identified . some problems concerned loans denominated in a foreign currency which consumers had taken out in that currency to take advantage of the interest rate offered but without having an adequate understanding of the currency risk involved . these problems are driven by market and regulatory failures as well as other factors such as the general economic climate and low levels of financial literacy . other problems include ineffective , inconsistent , or non - existent registration , authorisation and supervision regimes for credit intermediaries and non - credit institutions providing credit for residential immovable property . the problems identified have potentially significant macroeconomic spill - over effects , can lead to consumer detriment , act as economic or legal barriers to cross - border activity and create an unlevel playing field between actors . ### a series of problems in eu mortgage markets associated with irresponsible lending and borrowing at the pre - contractual stage and the potential scope for irresponsible behaviour by credit intermediaries and non - credit institutions have been identified . some problems concerned foreign - currency loans which consumers had taken out on account of the more advantageous interest rate . consumers were not given appropriate information about the currency risk that is associated with such contracts and that arises in certain specific circumstances . these problems are driven by market and regulatory failures as well as other factors such as the general economic climate and low levels of financial literacy . other problems include ineffective , inconsistent , or non - existent registration , authorisation and supervision regimes for credit intermediaries and non - credit institutions providing credit for residential immovable property . the problems identified have potentially significant macroeconomic spill - over effects , can lead to consumer detriment , act as economic or legal barriers to cross - border activity and create an unlevel playing field between actors .


### for those areas not covered by this directive , member states should be free to maintain or introduce national legislation . member states should be able to maintain or introduce national provisions in areas such as contract law relating to the validity of credit agreements , property valuation , land registration , contractual information , post - contractual issues , and handling defaults . ### for those areas not covered by this directive , member states should be free to maintain or introduce national legislation . member states should be able in particular to maintain or introduce national provisions in areas such as contract law relating to the validity of credit agreements , property law , property valuation , land registration , contractual information , post - contractual issues , and handling defaults .


### in order to ensure a consistent framework for consumers in the area of credit as well as to minimise the administrative burden for creditors and credit intermediaries , the core framework of this directive should follow the structure of directive 2008 / 48 / ec , notably the notions that information included in advertising concerning credit agreements relating to residential immovable property should be provided to the consumer by means of a representative example , that detailed pre - contractual information should be given to him by means of a standardised information sheet , that the consumer should receive adequate explanations before the conclusion of the credit agreement and that creditors should assess the consumer’s creditworthiness before the provision of a loan . similarly , non - discriminatory access for creditors to relevant credit databases should also be ensured in order to achieve a level playing field with the provisions as guaranteed by directive 2008 / 48 / ec . similarly to directive 2008 / 48 / ec , this directive should ensure the appropriate authorisation , registration and supervision of all creditors providing credit agreements relating to residential immovable property and should introduce requirements for the establishment of , and access to , out - of - court dispute resolution mechanisms . ### in order to ensure a consistent framework for consumers in the area of credit as well as to minimise the administrative burden for creditors and credit intermediaries , the core framework of this directive should follow the structure of directive 2008 / 48 / ec , notably the notions that information included in advertising concerning credit agreements relating to residential immovable property should be provided to the consumer by means of a representative example , that detailed pre - contractual information should be given to him by means of an information sheet , that should be standard for all member states at a european level , that the consumer should receive adequate explanations before the conclusion of the credit agreement and that creditors should assess the consumer’s creditworthiness before the provision of a loan . similarly , non - discriminatory access for creditors to relevant credit databases should also be ensured in order to achieve a level playing field with the provisions as guaranteed by directive 2008 / 48 / ec . similarly to directive 2008 / 48 / ec , this directive should ensure the appropriate authorisation , registration and supervision of all creditors providing credit agreements relating to residential immovable property and should introduce requirements for the establishment of , and access to , out - of - court dispute resolution mechanisms .


### at the same time , it is important take into consideration the specificities of credit agreements relating to residential immovable property which justify a differentiated approach . given the nature and the possible consequences of a credit agreement relating to residential immovable property for the consumer , advertising materials and personalised pre - contractual information should include specific risk warnings , for instance about the nature and implications of taking out a security . following what already existed as a voluntary approach by the industry concerning home loans , general pre - contractual information should be made available at all times in addition to the personalised pre - contractual information . furthermore , a differentiated approach is justifiable in order to take into consideration the lessons learnt from the financial crisis in order to ensure that loan origination takes place in a sound manner . in this respect , the provisions on the creditworthiness assessment should be strengthened in comparison to consumer credit , more precise information should be provided by credit intermediaries on their status and relationship with the creditors in order to disclose potential conflicts of interest , and all actors involved in the origination of credit agreements relating to residential immovable property should be adequately authorised , registered and supervised . ### at the same time , it is important to take into consideration the specificities of credit agreements relating to residential immovable property which justify a differentiated approach . following what already existed as a voluntary approach by the industry concerning home loans , general pre - contractual information should be made available at all times in addition to the personalised pre - contractual information . furthermore , a differentiated approach is justifiable in order to take into consideration the lessons learnt from the financial crisis in order to ensure that loan origination takes place in a sound manner . creditworthiness should be assessed in accordance with directive 2008 / 48 / ec . more precise information should be provided by credit intermediaries on their status and relationship with the creditors in order to disclose potential conflicts of interest , and all actors involved in the origination of credit agreements relating to residential immovable property should be adequately authorised , registered and supervised .


### the applicable legal framework should give consumers the confidence that creditors and credit intermediaries are acting in the best interests of the consumer . a key aspect of ensuring such consumer confidence is the requirement to ensure a high degree of fairness , honesty and professionalism in the industry . while this directive should require relevant knowledge and competence to be proven at the level of the institution , member states should be free to introduce or maintain such requirements applicable to individual natural persons . ### the applicable legal framework should give consumers the confidence that creditors and credit intermediaries are acting in the best interests of the consumer . a key aspect of ensuring such consumer confidence is the requirement to ensure a high degree of fairness , honesty and professionalism in the industry . this directive should require relevant knowledge and competence to be proven at the level of the institution as well as at the level of the natural person in case of a credit intermediary who works alone .


### creditors and credit intermediaries frequently use advertisements , often featuring special terms and conditions , to attract consumers to a particular product . consumers should , therefore , be protected against unfair or misleading advertising practices and should be able to compare advertisements . specific provisions on the advertising of credit agreements relating to residential immovable property and a list of items to be included in advertisements and marketing materials directed at consumers are necessary to enable them to compare different offers . such provisions take into account the specificities of credit agreements relating to residential immovable property , for instance , the fact that if the loan repayments are not met , there is a risk of the consumer losing the property . member states should remain free to introduce or maintain disclosure requirements in their national laws regarding advertising which does not contain information on the cost of credit . ### creditors and credit intermediaries frequently use advertisements , often featuring special terms and conditions , to attract consumers to a particular product . consumers should , therefore , be protected against unfair or misleading advertising practices and should be able to compare advertisements . specific final provisions on the advertising of credit agreements relating to residential immovable property and credit agreements secured by mortgages , and a list of items to be included in advertisements and marketing materials directed at consumers where such advertising specifies interest rates and costs , are necessary to enable them to compare different offers . for the rest , member states should remain free to provide for information requirements in their national laws . such provisions should take into account the specificities of credit agreements relating to residential immovable property .


### the consumer may still need additional assistance in order to decide which credit agreement , within the range of products proposed , is the most appropriate for his needs and financial situation . creditors , and where the transaction is through a credit intermediary , credit intermediaries should provide such assistance in relation to the credit products which they offer to the consumer . the relevant information , as well as the essential characteristics of the products proposed , should therefore be explained to the consumer in a personalised manner so that the consumer can understand the effects which they may have on his economic situation . member states could determine when and to what extent such explanations are to be given to the consumer , taking into account the particular circumstances in which the credit is offered , the consumer’s need for assistance and the nature of individual credit products . ### despite the pre - contractual information to be provided , the consumer may still need additional assistance in order to decide which credit agreement , within the range of products proposed , is the most appropriate for his needs and financial situation . therefore , member states should ensure that creditors provide such assistance in relation to the credit products which they offer to the consumer . where appropriate , the relevant pre - contractual information , as well as the essential characteristics of the products proposed , should be explained to the consumer in a personalised manner so that the consumer can understand the effects which they may have on his economic situation . where applicable , this duty to assist the consumer should also apply to credit intermediaries . member states could determine when and to what extent such explanations are to be given to the consumer , taking into account the particular circumstances in which the credit is offered , the consumer’s need for assistance and the nature of individual credit products .


### in order to promote the establishment and functioning of the internal market and to ensure a high degree of protection for consumers throughout the union , it is necessary to ensure the comparability of information relating to annual percentage rates of charge throughout the union . the total cost of the credit to the consumer should comprise all the costs that the consumer has to pay in connection with the credit agreement , except for notarial costs . it should therefore include interest , commissions , taxes , fees for credit intermediaries and any other fees as well as the cost of insurance or other ancillary products , where these are obligatory in order to obtain the credit on the terms and conditions marketed . as the annual percentage rate of charge can at the pre - contractual stage be indicated only through an example , such an example should be representative . therefore , it should correspond , for instance , to the average duration and total amount of credit granted for the type of credit agreement under consideration . given the complexities of calculating an annual percentage rate of charge and in order to be able to accommodate product innovation , technical regulatory standards could be employed to amend or specify the method of calculation of the annual percentage rate of charge . the definition of and methodology used for calculating the annual percentage rate of charge in this directive should be the same as those in directive 2008 / 48 / ec in order to facilitate consumer understanding and comparison . those definitions and methodologies may , however , differ in the future should directive 2008 / 48 / ec be modified at a later date . member states are free to maintain or introduce prohibitions on unilateral changes to the borrowing rate by the creditor . ### in order to promote the establishment and functioning of the internal market and to ensure an appropriate degree of protection for consumers throughout the union , it is necessary to ensure the comparability of information relating to annual percentage rates of charge throughout the union . the total cost of the credit to the consumer should comprise all the costs that the consumer has to pay in connection with the credit agreement , except for notarial costs . it should therefore include interest , commissions , taxes , fees for credit intermediaries and any other fees as well as the cost of insurance or other ancillary products , where these are obligatory in order to obtain the credit on the terms and conditions marketed . as the annual percentage rate of charge can at the pre - contractual stage be indicated only through an example , such an example should be representative . therefore , it should correspond , for instance , to the average duration and total amount of credit granted for the type of credit agreement under consideration . given the complexities of calculating an annual percentage rate of charge and in order to be able to accommodate product innovation , technical regulatory standards could be employed to amend or specify the method of calculation of the annual percentage rate of charge . the definition of and methodology used for calculating the annual percentage rate of charge in this directive should be the same as those in directive 2008 / 48 / ec in order to facilitate consumer understanding and comparison . those definitions and methodologies may , however , differ in the future should directive 2008 / 48 / ec be modified at a later date . member states are free to maintain or introduce prohibitions on unilateral changes to the borrowing rate by the creditor .


### in order to promote the establishment and functioning of the internal market and to ensure a high degree of protection for consumers throughout the union , it is necessary to ensure the comparability of information relating to annual percentage rates of charge throughout the union . the total cost of the credit to the consumer should comprise all the costs that the consumer has to pay in connection with the credit agreement , except for notarial costs . it should therefore include interest , commissions , taxes , fees for credit intermediaries and any other fees as well as the cost of insurance or other ancillary products , where these are obligatory in order to obtain the credit on the terms and conditions marketed . as the annual percentage rate of charge can at the pre - contractual stage be indicated only through an example , such an example should be representative . therefore , it should correspond , for instance , to the average duration and total amount of credit granted for the type of credit agreement under consideration . given the complexities of calculating an annual percentage rate of charge and in order to be able to accommodate product innovation , technical regulatory standards could be employed to amend or specify the method of calculation of the annual percentage rate of charge . the definition of and methodology used for calculating the annual percentage rate of charge in this directive should be the same as those in directive 2008 / 48 / ec in order to facilitate consumer understanding and comparison . those definitions and methodologies may , however , differ in the future should directive 2008 / 48 / ec be modified at a later date . member states are free to maintain or introduce prohibitions on unilateral changes to the borrowing rate by the creditor . ### in order to promote the establishment and functioning of the internal market and to ensure a high degree of protection for consumers throughout the union , it is necessary to uniformly ensure the comparability of information relating to annual percentage rates of charge throughout the union . the total cost of the credit to the consumer should comprise all the costs that the consumer has to pay in connection with the credit agreement , except for costs incurred in connection with credit protection such as registration fees and notarial costs . it should therefore include interest , commissions , taxes , fees for credit intermediaries and any other fees as well as the cost of insurance or other ancillary products , where these are obligatory in order to obtain the credit on the terms and conditions marketed . as the annual percentage rate of charge can at the pre - contractual stage be indicated only through an example , such an example should be representative . therefore , it should correspond , for instance , to the average duration and total amount of credit granted for the type of credit agreement under consideration . given the complexities of calculating an annual percentage rate of charge and in order to be able to accommodate product innovation , technical regulatory standards could be employed to amend or specify the method of calculation of the annual percentage rate of charge . in order to facilitate comparison , the aim should be to create uniformity as far as possible between the definition of and methodology used for calculating the annual percentage rate of charge in this directive and those in directive 2008 / 48 / ec . however , in the case of credits with a fixed initial interest rate , calculating the apcr in accordance with directive 2008 / 48 / ec may lead to serious misapprehensions among consumers . this should be corrected . further discrepancies may arise in the future should the two directives be modified . member states are free to maintain or introduce prohibitions on unilateral changes to the borrowing rate by the creditor .


### an assessment of creditworthiness should take into consideration all necessary factors that could influence a consumer’s ability to repay over the lifetime of the loan including , but not limited to , the consumer’s income , regular expenditures , credit score , past credit history , ability to handle interest rate adjustments , and other existing credit commitments . additional provisions may be necessary to further elaborate on the different elements that may be taken into consideration in a creditworthiness assessment . member states may issue guidance on the method and criteria to assess a consumer’s creditworthiness , for example by setting limits on loan - to - value or loan - to - income ratios . ### an assessment of creditworthiness should take into consideration all necessary factors that could influence a consumer’s ability to repay the credit over its lifetime including , but not limited to , the consumer’s income , savings , assets , regular expenditures , debts and other financial commitments , credit score , past credit history , ability to handle interest rate adjustments , and reasonable assumptions as to the consumer’s situation over the term of the proposed credit agreement . additional provisions may be necessary to further elaborate on the different elements that may be taken into consideration in a creditworthiness assessment . these objectives may be satisfied through an effective prudential regulation . member states may issue guidance on the method and criteria to assess a consumer’s creditworthiness . if a consumer is subsequently unable to meet his debt obligation relating to the credit agreement after a positive creditworthiness assessment , this should not automatically mean that the creditworthiness assessment was conducted improperly . the provisions of this directive are without prejudice to the national and union regulations on the sound and prudent management of creditors .


### consumers should provide all available relevant information on their financial situation and personal circumstances to the creditor or intermediary in order to facilitate the creditworthiness assessment . the consumer should not , however , be penalised where he is not in a position to provide certain information or assessments of the future evolution of his financial situation . in situations where consumers knowingly provide incomplete or inaccurate information , member states should be able to determine the appropriate penalties . ### consumers should provide all available relevant information on their financial situation and personal circumstances to enable the creditor or intermediary to carry out the creditworthiness assessment , since failure to do so will result in refusal of the credit they seek to obtain . in situations where consumers knowingly provide incomplete or inaccurate information , member states should be able to determine the appropriate penalties .


### to prevent any distortion of competition among creditors , it should be ensured that all creditors have access to all public and private credit databases concerning consumers under non - discriminatory conditions . such conditions should not therefore include a requirement to be established as a credit institution . access conditions , such as the costs of access or requirements for any request for information to be based upon a request for credit would continue to apply . member states are free to determine whether , within their jurisdictions , credit intermediaries may also have access to such databases . ### to prevent any distortion of competition among creditors , it should be ensured that all creditors have access to all public and private credit databases concerning consumers under non - discriminatory conditions . such conditions should not therefore include a requirement to be established as a credit institution . access conditions , such as the costs of access or requirements for any request for information to be based upon a request for credit would continue to apply , and creditors themselves would be liable to pay access costs . where it is necessary to request information in connection with various loan products of the same creditor , the same creditor should charge the costs of such request only once . member states are free to determine whether , within their jurisdictions , credit intermediaries may also have access to such databases .


### in order to be in a position to understand the nature of the service , consumers should be made aware of what constitutes a personalised recommendation on suitable credit agreements for that consumer’s needs and financial situation and when it is being provided and when it is not . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances . that service should be based on a fair and sufficiently wide - ranging analysis of the products available on the market , and on a close inspection of the consumer’s financial situation , preferences and objectives . such an assessment should be based on up - to - date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice . ### in order to be in a position to understand the nature of the service , consumers should be made aware of what constitutes an expert personalised recommendation on suitable credit agreements for that consumer ' s needs and financial situation and when it is being provided . it is therefore important to ensure that this advisory service is a separate service which is paid for separately in a manner transparent to the consumer . consumers should also be able to rely on the competence of the adviser . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances and should also have the necessary professional competence to provide expert advice . that service should be based on a fair and sufficiently wide - ranging analysis of the products offered , in the case of advice provided by creditors or tied credit intermediaries , or of the products available on the market , in the case of advice provided by credit intermediaries who are not tied , and on a close inspection of the consumer’s financial situation , preferences and objectives . such an assessment should be based on up - to - date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice . the act of making a binding offer to a consumer does not in itself constitute advice .


### in order to be in a position to understand the nature of the service , consumers should be made aware of what constitutes a personalised recommendation on suitable credit agreements for that consumer’s needs and financial situation and when it is being provided and when it is not . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances . that service should be based on a fair and sufficiently wide - ranging analysis of the products available on the market , and on a close inspection of the consumer’s financial situation , preferences and objectives . such an assessment should be based on up - to - date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice . ### in order to be in a position to understand the nature of the service , consumers should be made aware of what constitutes a personalised recommendation on suitable credit agreements for that consumer’s needs and financial situation and when it is being provided and when it is not . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances . that service should be based on a fair and sufficiently wide - ranging analysis of the products available from the credit institution or tied credit intermediary and , when the advice is provided by a non - tied credit intermediary , of the products available on the market . there must also be a close inspection of the consumer’s financial situation , preferences and objectives . such an assessment should be based on up - to - date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice .


### in order to be in a position to understand the nature of the service , consumers should be made aware of what constitutes a personalised recommendation on suitable credit agreements for that consumer ' s needs and financial situation and when it is being provided and when it is not . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances . that service should be based on a fair and sufficiently wide - ranging analysis of the products available on the market , and on a close inspection of the consumer ' s financial situation , preferences and objectives . such an assessment should be based on up - to - date information and reasonable assumptions on the consumer ' s circumstances during the lifetime of the loan . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice . ### where the consumer is provided with advice as a service separate from the credit , he should be made clearly aware of this fact . a charge should only be made if the consumer is clearly informed about the charge and the method of its calculation . those providing advice should comply with general standards in order to ensure that the consumer is presented with a range of products suitable for his needs and circumstances . that advice should be based on a fair and sufficiently wide - ranging analysis of the products available , and on a close inspection of the consumer’s financial situation , preferences and objectives , and should be based on up - to - date information and reasonable assumptions on the consumer’s circumstances during the lifetime of the loan . if the advice relates only to the adviser’s own range of products , this should be drawn to the consumer’s attention . member states may clarify how the suitability of a given product for a consumer should be assessed in the context of the provision of advice .


### credit intermediaries should be registered with the competent authority of the member state where they have their residence or their head office , provided that they have been authorised in accordance with strict professional requirements in relation to their competence , good repute , and professional indemnity cover . with a view to promoting consumer confidence in credit intermediaries , member states should ensure that authorised credit intermediaries are subject to ongoing and thorough supervision by their home member state competent authority . such requirements should apply at least at the level of the institution ; however , member states may clarify whether such requirements for authorisation and subsequent registration apply to individual employees within the credit intermediary . ### credit intermediaries should be registered with the competent authority of the member state where they have their residence or their head office , provided that they have been authorised in accordance with strict professional requirements in relation to their competence , good repute , and professional indemnity cover . with a view to promoting consumer confidence in credit intermediaries , member states should ensure that authorised credit intermediaries are subject to ongoing and thorough supervision by their home member state competent authority . such requirements should apply at least at the level of the institution and at the level of the natural person in the case of a credit intermediary who works alone ; however , member states may clarify whether such requirements for authorisation and subsequent registration apply to individual employees within the credit intermediary .


### the efficient functioning of this directive will need to be reviewed , as will progress on the establishment of an internal market with a high level of consumer protection for credit agreements relating to residential immovable property . the commission should therefore review the directive five years after the deadline for its transposition . the review should include , among other things , an analysis of the evolution of the market for non - credit institutions providing credit agreements relating to residential immovable property and an assessment on the need for further measures , including a passport for such non - credit institutions , an examination of the necessity to introduce rights and obligations with regard to the post - contractual stage of credit agreements , and an assessment of whether an extension of the scope to include lending to small companies is warranted . ### the efficient functioning of this directive will need to be reviewed , as will progress on the establishment of an internal market with an appropriate level of consumer protection for credit agreements relating to residential immovable property . the commission should therefore review the directive five years after the deadline for its transposition . the review should include , among other things , an analysis of the evolution of the market for non - credit institutions providing credit agreements relating to residential immovable property and an assessment on the need for further measures , including a passport for such non - credit institutions , an examination of the necessity to introduce rights and obligations with regard to the post - contractual stage of credit agreements , and an assessment of whether an extension of the scope to include lending to small companies is warranted .


### credit agreements where the credit is granted by an employer to his employees as a secondary activity where such a credit agreement is offered free of interest or at annual percentage rates of charge lower than those prevailing on the market and not offered to the public generally . ### credit agreements where the credit is granted by an employer to his employees , public officials or civil servants as a secondary activity where such a credit agreement is offered free of interest or at annual percentage rates of charge lower than those prevailing on the market and not offered to the public generally .


### credit agreements which will eventually be repaid from the sale proceeds of an&#160 ; immovable property . ### credit agreements where the creditor : contributes a lump sum , periodic payments or other forms of credit disbursement in return for a sum deriving from the sale of an immovable property or a right relating to immovable property ; and will not seek full repayment of the credit until the occurrence of one or more specified life events defined in member states .


### ' annual percentage rate of charge ' means the total cost of the credit to the consumer , expressed as an annual percentage of the total amount of credit , where applicable , including the costs referred to in article 12 . ### ' annual percentage rate of charge ' means the total of the charges levied by the creditor for his benefit in respect of the conclusion and performance of the credit agreement .


### assists consumers by undertaking preparatory work in respect of credit agreements within the meaning of article 2 other than as referred to in point ; ### assists consumers by undertaking preparatory work and / or administration in respect of credit agreements within the meaning of article 2 other than as referred to in point ; or


### member states shall designate the competent authorities empowered to ensure implementation of this directive and shall ensure that they are granted all the powers necessary for the performance of their duties . ### member states shall designate the competent authorities empowered to ensure implementation of this directive and enactment of all its provisions in the interest of the market and all market participants . they shall ensure that they are granted sufficient resources and all the investigating and sanctioning powers necessary for the performance of their duties . member states shall ensure that the competent authorities can access all premises , request the notification of mortgage contracts , esis , books , invoices and all other professional documents and obtain or take copies of these by any means and on all media and collect information and proof by means of summons or in situ . in the case of activity in a host member state , supervision of the ongoing activities of creditors and credit intermediaries shall be performed by the competent authority of the host member state . the competent authority of the home member state shall be required to provide the competent authority of the host member state with all relevant information . competent authorities of the host member state shall have the power to intervene if credit intermediaries fail to comply with their duties and responsibilities defined in this directive . in addition , competent authorities of the host member state shall be granted the right to refuse authorisations .


### member states shall ensure that the authorities designated as competent for ensuring the implementation of articles 18 , 19 , 20 and 21 of this directive are one of those competent authorities included in article 4 of regulation no 1093 / 2010 establishing a european supervisory authority . ### member states shall ensure that the authorities designated as competent for ensuring the implementation of articles 18 , 19 , 20 , 21 , 22 and 23 of this directive are one of those competent authorities included in article 4 of regulation no 1093 / 2010 establishing a european supervisory authority .


### member states shall require that , when granting , intermediating or advising on credit and , where appropriate , ancillary services to consumers , the creditor or the credit intermediary acts honestly , fairly and professionally in accordance with the best interests of the consumer . ### member states shall require that , when granting , intermediating or advising on credit , the creditor or the credit intermediary acts honestly , fairly and professionally .


### member states shall ensure that general information about credit agreements is made available by creditors or , where applicable , credit intermediaries at all times in a durable medium or in electronic form . ### member states shall ensure that accessible and comprehensible general information about credit agreements is made available by creditors and provided to the consumer , either by the creditor in the case of direct sales , or through the credit intermediary , at all times on paper or on another durable medium and / or , upon request , in electronic form .


### forms of surety ; ### forms of surety , including the possibility for the collateral to be located in a different member state ;


### prior to the performance of any of the services listed in article 3 , a credit intermediary shall provide the consumer with at least the following information : ### prior to the performance of any of the services listed in article 3 , a credit intermediary shall provide the consumer with at least the following information , free of charge :


### for those credit intermediaries that are not tied , the existence of commissions , where applicable , payable by the creditor to the credit intermediary for his services . ### the existence of commissions or any other type of gratifications , including in kind , where applicable , payable by the creditor or any other third party to the credit intermediary for his services .


### for the purpose of calculating the annual percentage rate of charge , the total cost of the credit to the consumer shall be determined excluding any charges payable by the consumer for non - compliance with any of his commitments laid down in the credit agreement . ### the annual percentage rate of charge shall be determined excluding any charges payable by the consumer for non - compliance with any of his commitments laid down in the credit agreement .


### powers are delegated to the commission in accordance with article 26 and subject to the conditions of articles 27 and 28 , to amend the formula and the assumptions used to calculate the annual percentage rate of charge as set out in annex i . ### powers are delegated to the commission in accordance with article 26 to amend the formula used to calculate the annual percentage rate of charge as set out in annex i .


### powers are delegated to the commission in accordance with article 26 and subject to the conditions of articles 27 and 28 , to amend the formula and the assumptions used to calculate the annual percentage rate of charge as set out in annex i . the commission shall , when adopting such delegated acts , amend , where necessary , the formula or assumptions laid down in annex i , in particular if the assumptions set out in this article and in annex i do not suffice to calculate the annual percentage rate of charge in a uniform manner or are not adapted any more to the commercial situation at the market . ### powers are delegated to the commission in accordance with article 26 to amend the formula used to calculate the annual percentage rate of charge as set out in annex i . the commission shall , when adopting such delegated acts , amend , where necessary , the formula laid down in annex i .


### member states shall ensure that , where the parties consider increases in the total amount of credit extended to the consumer after the conclusion of the credit agreement , the financial information at the disposal of the creditor concerning the consumer is updated and the consumer’s creditworthiness re - assessed before any significant increase in the total amount of credit is granted . ### member states shall ensure that , where the consumer asks for an increase in the total amount of credit after the conclusion of the credit agreement , the financial information at the disposal of the creditor concerning the consumer is updated and the consumer ' s creditworthiness re - assessed before any significant increase in the amount of credit is granted .


### for the purposes of this directive , ' advice ' constitutes a separate service from the granting of a credit . such a service can only be marketed as advice when the remuneration of the individual providing the service is transparent to the consumer . ### member states shall ensure that ' advice ' is provided as a separate service from the activity of granting a credit . such a service can only be marketed as advice when the remuneration of the individual providing the service is transparent to the consumer .


### member states shall ensure that the creditor or credit intermediary informs the consumer , in the context of a given transaction , whether or not advice is being or will be provided . this may be done through additional pre - contractual information . where advice is provided to consumers , in addition to the requirements set out in articles 5 and 6 , member states shall ensure that creditors and credit intermediaries : ### member states shall ensure that the creditor or credit intermediary informs the consumer , in the context of a given transaction , that advice will be provided . this may be done through additional pre - contractual information . where advice is provided to consumers , in addition to the requirements set out in articles 5 and 6 , member states shall ensure that creditors and credit intermediaries :


### lender ### lender and the credit intermediary


### interest rate the aprc is the total cost of the loan expressed as an annual percentage . the aprc is provided to help you to compare different offers . the aprc applicable to your loan is [ aprc ] . it comprises : interest rate [ value in percentage ] [ other components of the aprc ] ### interest rate the aprc is the total cost of the loan expressed as an annual percentage . the aprc is provided to help you to compare different offers . the aprc applicable to your loan is [ aprc ] . it comprises : borrowing rate [ value in percentage ] [ other components of the aprc ]


### the interest rate of this loan does not remain fixed during the whole duration of the loan . ### the interest rate of this loan does not remain fixed during the whole duration of the loan . it may increase significantly once the fixed interest rate period has lapsed .


### you will also need to pay other taxes and costs , e . g . notary fees . ### you will also need to pay other taxes and credit protection costs , e . g . registration fees , notary fees .


### in completing the esis , the following instructions shall be followed : ### in completing the esis , the following instructions shall be followed , and information should be provided in plain , clear language comprehensible to an average consumer :


### where an exit charge will be applied to the early repayment , the creditor shall draw the borrower’s attention to this and indicate its amount . in cases where the amount of the exit charge would depend on different factors , such as the amount repaid or the prevailing interest rate at the moment of the early repayment , the creditor shall indicate how the exit charge will be calculated . the creditor shall then provide at least two illustrative examples in order to demonstrate to the borrower the level of the exit charge under different possible scenarios . ### where compensation will be payable in respect of the early repayment , the creditor shall draw the borrower’s attention to this and indicate its amount . in cases where the amount of the compensation would depend on different factors , such as the amount repaid or the prevailing interest rate at the moment of the early repayment , the creditor shall indicate how the compensation will be calculated . the creditor shall then provide at least two illustrative examples in order to demonstrate to the borrower the level of the compensation under different possible scenarios .


### member states shall ensure that the consumer has a statutory or contractual right to discharge his obligations under a credit agreement prior to the expiry of that agreement . in such cases , he shall be entitled to a reduction in the total cost of the credit , such a reduction consisting of the interest and the costs for the remaining duration of the contract . ### member states may ensure that the consumer has a statutory or contractual right to discharge his obligations under a credit agreement prior to the expiry of that agreement . in such cases , he shall be entitled to a reduction in the total cost of the credit , such a reduction consisting of the interest and the costs for the remaining duration of the contract .


### member states shall ensure that the consumer has a statutory or contractual right to discharge his obligations under a credit agreement prior to the expiry of that agreement . in such cases , he shall be entitled to a reduction in the total cost of the credit , such a reduction consisting of the interest and the costs for the remaining duration of the contract . ### member states shall ensure that the consumer has a statutory or contractual right to discharge fully or partially his obligations under a credit agreement . in such cases , he shall be entitled to a reduction in the total cost of the credit , such a reduction consisting of the interest and the costs for the remaining duration of the contract .


### without prejudice to procedures for the withdrawal of authorisation or to the right of member states to impose criminal sanctions , member states shall ensure , in conformity with their national law , that appropriate administrative measures can be taken or administrative sanctions imposed against persons responsible where the provisions adopted in the implementation of this directive have not been complied with . member states shall ensure that these measures are effective , proportionate and dissuasive . member states shall provide for penalties in particular cases where consumers knowingly provide incomplete or incorrect information in order to obtain a positive creditworthiness assessment where the complete and correct information would have resulted in a negative creditworthiness assessment , and are subsequently unable to fulfil the conditions of the agreement , and shall take all measures necessary to ensure that they are implemented . ### member states shall impose sanctions for infringements of the national provisions adopted on the basis of this directive and shall take all measures necessary to ensure that they are implemented . those sanctions shall be effective , proportionate and dissuasive .


### the power to adopt delegated acts is conferred on the commission subject to the conditions laid down in articles 27 and 28 . ### the delegation of powers referred to in article 9 and and article 12 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of the power specified in that decision . it shall take effect on the day following publication of the decision to revoke in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force .


### the powers to adopt delegated acts referred to in articles 6 , 8 , 9 , 10 , 14 and 16 shall be conferred on the commission for an indeterminate period of time following the entry into force of this directive . 2 . as soon as it adopts a delegated act , the commission shall notify it simultaneously to the european parliament and to the council . 3 . the power to adopt delegated acts is conferred on the commission subject to the conditions laid down in articles 27 and 28 . ### the power to adopt delegated acts shall be conferred on the commission subject to the&#160 ; conditions laid down in this article . 2 . the power to adopt delegated acts referred to in article 9 and and article 12 shall be conferred on the commission for an indeterminate period of time from…* . 3 . the delegation of powers referred to in article 9 and and article 12 may be revoked at any time by the european parliament or by the council . a decision to revoke shall put an end to the delegation of the power specified in that decision . it shall take effect the day following the publication of the decision to revoke in the official journal of the european union or at a later date specified therein . it shall not affect the validity of any delegated acts already in force . 3a . as soon as it adopts a delegated act , the commission shall notify it simultaneously to the european parliament and to the council . 3b . a delegated act adopted pursuant to article 9 and and article 12 shall enter into force only if no objection has been expressed either by the european parliament or the council within a period of three months of notification of that act to the european parliament and to the council or if , before the expiry of that period , the european parliament and the council have both informed the commission that they will not object . at the initiative of the european parliament or the council that period shall be extended by two months . _______________ the date of entry into force of this directive .


### the delegation of powers referred to in articles 6 , 8 , 9 , 10 , 14 and 16 may be revoked at any time by the european parliament or by the council . ### the delegation of powers referred to in article 12 may be revoked at any time by the european parliament or by the council .


### the delegation of powers referred to in articles 6 , 8 , 9 , 10 , 14 and 16 may be revoked at any time by the european parliament or by the council . ### the delegation of powers referred to in articles 8 , 9 , 10 and 16 may be revoked at any time by the european parliament or by the council .


### for credit agreements for which a fixed borrowing rate is agreed in relation to the initial period , at the end of which a new borrowing rate is determined and subsequently periodically adjusted according to an agreed indicator , the calculation of the annual percentage rate shall be based on the assumption that , at the end of the fixed borrowing rate period , the borrowing rate is the same as at the time of calculating the annual percentage rate , based on the value of the agreed indicator at that time . ### for credit agreements for which a fixed borrowing rate is agreed in relation to the initial period , at the end of which a new borrowing rate is determined and subsequently periodically adjusted according to an agreed indicator , the calculation of the annual percentage rate shall be based on the assumption that , at the end of the fixed borrowing rate period , the borrowing rate is the same as at the time of calculating the annual percentage rate , based on the value of the agreed indicator at that time , but is not less than the fixed borrowing rate . for credit agreements with a fixed borrowing rate of at least an initial period of five years and especially where a new fixed rate agreement is planned to proceed the agreement and variable conditions are only agreed on to prepare for the case that a new fixed deal has not yet been agreed on , only the initial fixed borrowing rate is to be taken into account .


### irrespective of whether these communities are located in urban or rural areas , due to the extremely poor quality of their housing conditions , expenditures on the replacement of the existing houses by newly constructed ones should also be eligible . ### irrespective of whether these communities are located in urban or rural areas , due to the extremely poor quality of their housing conditions , expenditures on the renovation and on the replacement of the existing houses , including by newly constructed ones , should also be eligible , with special regard to the development of infrastructures for local communities .


### in line with principle no 1 of those common basic principles , in order to limit the risks of segregation , housing interventions for marginalised communities should take place in the framework of an integrated approach , which includes actions , in particular , in the fields of education , health , social affairs , employment and security . ### in line with principle no 1 of those common basic principles , in order to limit the risks of segregation , housing interventions for marginalised communities should take place in the framework of an integrated and sustainable approach , which includes actions , in particular , in the fields of education , health , social affairs , employment and security .


### expenditure on housing , except for energy efficiency and the use of renewable energy as set out in paragraph 1a , shall be eligible only for those member states that acceded to the european union on or after 1 may 2004 , where the following conditions are met : expenditure shall be programmed within one of the following frameworks : the framework of an integrated urban development approach for areas experiencing or threatened by physical deterioration and social exclusion ; the framework of an integrated approach for marginalised communities . the allocation to housing expenditure shall be either a maximum of 3 % of the erdf allocation to the operational programmes concerned or 2 % of the total erdf allocation . ### expenditure on housing , except for energy efficiency and the use of renewable energy as set out in paragraph 1a , shall be eligible , where the following conditions are met : expenditure shall be programmed within one of the following frameworks : the framework of an integrated urban development approach for areas experiencing or threatened by physical deterioration and social exclusion ; the framework of an integrated approach for marginalised communities . expenditure under point shall be eligible only for those member states that acceded to the european union on or after 1 may 2004 ; expenditure under point shall be eligible for all eu member states . the allocation to housing expenditure shall be either a maximum of 3 % of the erdf allocation to the operational programmes concerned or 2 % of the total erdf allocation .


### expenditure on housing , except for energy efficiency and the use of renewable energy as set out in paragraph 1a , shall be eligible only for those member states that acceded to the european union on or after 1 may 2004 , where the following conditions are met : expenditure shall be programmed within one of the following frameworks : the framework of an integrated urban development approach for areas experiencing or threatened by physical deterioration and social exclusion ; the framework of an integrated approach for marginalised communities . the allocation to housing expenditure shall be either a maximum of 3 % of the erdf allocation to the operational programmes concerned or 2 % of the total erdf allocation . ### expenditure on housing shall be eligible where the following conditions are met : expenditure shall be programmed within one of the following frameworks : the framework of an integrated urban development approach for areas experiencing or threatened by physical deterioration and social exclusion ; the framework of an integrated and sustainable approach for marginalised communities . the allocation to housing expenditure shall be either a maximum of 3 % of the erdf allocation to the operational programmes concerned or 2 % of the total erdf allocation .


### for the purposes of point of the first subparagraph , expenditure shall be limited to one of the following interventions : ### for the purposes of point and of the first subparagraph , expenditure shall be limited to the following interventions :


### for the purposes of point of the first subparagraph , interventions may include the replacement of existing housing by newly constructed houses . ### for the purposes of point of the first subparagraph , interventions may include the renovation and replacement of existing housing .


### the commission may adopt the list of criteria needed for determining the areas referred to under point of the first subparagraph and the list of eligible interventions in accordance with the procedure referred to in article 103 of regulation no 1083 / 2006 . ### the commission shall adopt the list of criteria needed for determining the areas referred to under point of the first subparagraph and the list of eligible interventions in accordance with the procedure referred to in article 103 of regulation no 1083 / 2006 .


### the union seeks to promote , develop and consolidate the values of liberty , democracy , respect for human rights and fundamental freedoms , principles of equality and the rule of law on which it is founded through dialogue and cooperation with third countries . ### the union seeks to promote , develop and consolidate the values of liberty , democracy , respect for human rights and fundamental freedoms , principles of equality and diversity , particularly equality between men and women and the rule of law on which it is founded through dialogue and cooperation with third countries .


### the union seeks to promote , develop and consolidate the values of liberty , democracy , respect for human rights and fundamental freedoms , principles of equality and the rule of law on which it is founded through dialogue and cooperation with third countries . ### the union seeks to promote , develop and consolidate the values of liberty , democracy , respect for human rights and fundamental freedoms , women’s rights , principles of gender equality , non - discrimination and the rule of law on which it is founded through dialogue and cooperation with third countries .


### gender equality and anti - discrimination should be a cross - cutting objective in all actions undertaken under this regulation . ### gender equality and anti - discrimination should be a cross - cutting objective in all actions and policies undertaken under this regulation . the place and the role of women should be also promoted through special measures and programmes .


### gender equality and anti - discrimination should be a cross - cutting objective in all actions undertaken under this regulation . ### gender equality should be a cross - cutting objective in all actions undertaken under this regulation , reflected in the promotion of women’s rights and action to combat acts of violence against women and gender - based discrimination . to enhance the status of women in the partner countries , the european union and its member states should pay special attention to all measures that enhance and promote the role of women in political and economic decision - making positions and in civil society .


### the union is committed to promote in relations with its partners worldwide decent work as well as ratification and effective implementation of the internationally recognised labour standards and multilateral environment agreements , in relations with its partners worldwide . ### the union is committed to promote in relations with its partners worldwide decent work as well as ratification and effective implementation of the internationally recognised labour standards and multilateral environment agreements , in relations with its partners worldwide . special attention should be paid to the services sector and the informal sector where women are most often employed , in order to ensure that their rights are respected and to promote their participation in the labour market and in national economies .


### promoting human rights and fundamental freedoms , the rule of law , principles of equality , establishing deep and sustainable democracy , promoting good governance and developing a thriving civil society including social partners ; ### promoting human rights and particularly promotion of women ' s rights and fundamental freedoms , the rule of law , principles of equality and diversity , the equality between men and women establishing deep and sustainable democracy , promoting good governance and developing a thriving civil society including social partners ;


### promoting human rights and fundamental freedoms , the rule of law , principles of equality , establishing deep and sustainable democracy , promoting good governance and developing a thriving civil society including social partners ; ### promoting human rights , fundamental freedoms , women ' s rights and respect for the principles of the rule of law , equality between men and women and non - discrimination , consolidating good governance , establishing deep and sustainable democracy and developing a free , independent , thriving and proactive civil society ;


### sustainable and inclusive development in all aspects , poverty reduction , including through private - sector development ; promotion of internal economic , social and territorial cohesion , rural development , climate action and disaster resilience ; ### sustainable and inclusive development in all aspects , poverty reduction , including through private - sector development ; promotion of internal economic , social and territorial cohesion , rural development , climate action , equality between men and women and disaster resilience ;


### sustainable and inclusive development in all aspects , poverty reduction , including through private - sector development ; promotion of internal economic , social and territorial cohesion , rural development , climate action and disaster resilience ; ### sustainable and inclusive development in all aspects , poverty reduction , including through private - sector development ; promotion of internal economic , social and territorial cohesion , rural development , climate action and disaster resilience , paying special attention to promoting the role women play in these spheres as efficient managers of change and progress ;


### union support provided under this regulation to each partner country shall be differentiated in form and amounts according to the partner country ' s commitment to reforms and its progress in implementing these reforms . such differentiation shall reflect the level of ambition of the country ' s partnership with the union , its progress in building deep and sustainable democracy , its progress in implementing agreed reform objectives , the country ' s needs and capacities , and the potential impact of union support . ### union support provided under this regulation to each partner country shall be differentiated in form and amounts according to the partner country ' s commitment to reforms and its progress in implementing these reforms . such differentiation shall reflect the level of ambition of the country ' s partnership with the union , its progress in building deep and sustainable democracy , establishing good governance , respect for human rights , fundamental freedoms , women ' s rights , principles of equality between men and women , non - discrimination and the rule of law , and its progress in implementing agreed reform objectives , the country ' s needs and capacities , and the potential impact of union support .


### financial allocations for country and multi - country programmes shall be determined using transparent and objective criteria reflecting the differentiation principle referred to in article 4 . ### financial allocations for country and multi - country programmes shall be determined using transparent and objective criteria reflecting the differentiation principle referred to in article 4 and taking due account of progress made on equality between men and women .