Call for EU legislation to encourage microcredit schemes

There is a new initiative “Call for EU legislation to encourage microcredit schemes“. One aim of the initiative is:

EU-wide framework on supervision and regulation

There also needs to be an EU-wide regulatory framework for non-bank providers of microcredit (banks are already covered by existing rules), defining them as non-deposit takers, with the ability to conduct credit only activities and to on-lend. There should be harmonised, risk-based rules on authorisation and supervision.

This would help p2p lending services.

Thank you to Peter Petrovics of for supplying the link. raises fees
Which sites do offer p2p lending statistics?

5 thoughts on “Call for EU legislation to encourage microcredit schemes

  1. I think this is actually not about P2P (which doesn’t need more regulation!), but about helping provide credit (and public contracts) to very low income earners so that they can grow their businesses. In the UK, for example, the Treasury has established a scheme whereby Community Development Finance Institutions (CDFIs) lend to small enterprises that banks and other mainstream lenders consider to be too risky. They have their own association now

    • Hi Simon,

      I don’t think its about more regulation – the aim is to harmonize the very different requirements in the European Union. On a leveled playing field more players could enter with fewer or easier identifiable obstacles.

  2. Hi,

    As for this is not for P2P: in some cases there is a fine line between microcredit and p2p. Not talking about the concept of P2P but the possible borrowers may overlap. And who knows probably an EU microfinance regulation could help to spread p2p in some countries where regulations blocks it.

    However I can’t see exactly yet what this initiative is going to be. If there will be any output at all…


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