ESBG concerned about Prospectuses Directive

28 October 2002

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In its position paper the European Savings Banks Group, ESBG, calls for maintenance of facilities for bonds issued in a continuous or repeated manner. In many member states, ESBG argues, credit institutions make use of these facilities to refinance themselves. Therefore ESBG calls for the maintenance of a specific prospectus regime for bearer bonds issued frequently by credit institutions. ESBG also pointed out that the freedom of choice of the competent supervisory authority is not sufficient and does not meet practical needs.

Press release
Position paper

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