vdp Legal monitoring
The vdp Legal monitoring assists banks in demonstrating compliance with the regulatory requirement that banks monitor changes to the legal framework which the affect effectiveness and enforceability of their immovable security rights. Members of the Round Table provide biannual reports on current legal developments in their legal systems which affect immovable security. The Database vdpmortgage determines the scope of the materials to be considered in these reports.
Regulatory Requirements for Banks
The Capital Requirement Regulation (CRR) requires that banks take steps to establish and keep under review the effectiveness and enforceability of immovable security rights which they take into account when assessing their capital requirements. This requires ongoing consideration of developments in their legal framework and evidence that this work has been undertaken.
In order to assist in the satisfaction of the requirements of the CRR, vdp Legal Monitoring examines whether legislative changes or new case law in a given system require
- re-examination of existing immovable financing,
- requires particular consideration in future financing decisions and/or
- require further research.
National reports
vdp Expertise offers biannual national reports on more than 35 legal systems addressing current developments affecting immovable security. They are prepared by members of the Round Table on Security over Immovable Property in co-operation with the Center of Legal Competence – Forschung & Consulting GmbH.
vdp Legal Monitoring builds on the vdp Database vdpmortgage and offers monitoring of legal developments affecting immovable security rights which supports compliance with the requirements of the CRR.
Selected Countries
At present vdp Legal Monitoring covers more than 35 countries, among which are the majority of EU member states. These areas are particularly important markets for the banks which are members of the vdp.
Particular attention is paid to the reports from Belgium, Germany, Finland, France, England and Wales, Scotland, Italy, Luxembourg, the Netherlands, Austria, Poland, Portugal, Romania, Sweden, Switzerland, Slovakia, Slovenia, Spain, Czechia and Hungary, as well as to the non-European juridictions, Japan and New York.
Illustration: Cartographic overview of the countries monitored in the vdp legal monitoring system
Advantages
- Fulfilment of regulatory requirements regarding changes to the law of immovable security.
- Extensive geographical coverage of more than 35 countries.
- Consistency with the results of the Round Table on Security over Immovable Property.
Contact for further information
If you have any questions about the vdp Legal monitoring or would like more detailed information, please contact us at vdpRechtsmonitoring@vdpExpertise.de.
vdpExpertise GmbH, Georgenstraße 22, 10117 Berlin 030 206 229 249