The Law dated 27 June 2013 relating to the banks issuing mortgage bonds and amending the Law of 5 April 1993 on the financial sector, has been published in the Luxembourg Official Journal on 1st July 20131.

On 19 December 2018, the CSSF issued Circular 18/705 ("Circular") relating to the general valuation principles, introduced by the Law of 22 June 2018

As part of the implementation of Directive (EU) 2019/2162 on the issue of covered bonds and covered bonds public supervision ("Covered Bonds Directive"), the Law of 8 December 2021...

In its Newsletter N°130 dated November 2011 the Luxembourg Financial Sector Regulator (Commission de Surveillance du Secteur Financier, the "CSSF") requires the insertion of a paragraph in the prospectuses of UCITS and UCIs (referred to as "UCI" or "UCIs") newly created as of the date of publication of this Newsletter (i.e. 23rd November 2011).

The law of 15 July 2024 on transfer of non-performing loans (the "Law") was published in the Official Journal of the Grand-Duchy of Luxembourg. It aims at implementing Directive (EU)...

What requirements must banks comply with to protect consumers in your jurisdiction?

What provisions govern money laundering and other forms of financial crime in your jurisdiction and what specific implications do these have for banks?

How are the assets and liabilities of banks typically transferred in your jurisdiction?

Consistent with other Euro-area banks following the 2008 financial crisis, customer deposits represent the single largest source of funding.

Traditionally, banks in Europe were the largest providers of debt finance. According to Morgan Stanley, in 2012 banks and banking products accounted for 90%-95% of the market in Europe.

On 30 October 2023, Directive (EU) 2023/2225 of 18 October 2023 on credit agreements for consumers (the "Directive") was published in the Official Journal of the European Union.

The European Securities and Markets Authority has published on November 16 its final advice to the European Commission on the detailed rules underlying and implementing the Alternative Investment Fund Managers Directive.

The law dated 20 May 2011 (hereafter the "Law") implements in Luxembourg the European Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (hereafter the "Directive") into the title II of the law dated 10 November 2009 relating to payment services, electronic money institutions and settlement finality in payment and securities settlement systems.

The Law of 5 April 1993 on the financial sector, as amended ('Banking Act') – which implements, among others, Directive 2013/36/EU of the European Parliament and of the Council of 26 June 2013...

The Mortgage Credit Directive ("MCD") came into force on 21 March 2014 with the overall aim to create an EU-wide single residential mortgage credit market with a high level of consumer protection.

The Luxembourg law of 17 December 2010 on undertakings for collective investment (the "2010 Law") entered into force on 1 January 2011.

Following additional inter-institutional negotiations aimed at fine-tuning the text of the provisional political agreement reached with the EU Parliament earlier in July 2023...

On 19 March 2024, the Instant Credit Transfers in Euro Regulation (Regulation (EU) 2024/886 - the Regulation) was published in the European Union (EU) Official Journal.

What requirements apply with regard to the management structure of banks in your jurisdiction?

What key reporting and disclosure requirements apply to banks in your jurisdiction?