Corrigendum to CCD2 published in OJ

A Corrigendum to Directive (EU) 2023/2225 on credit agreements for consumers and repealing Directive 2008/48/EC (CCD2) has been published in the Official Journal of the European Union, correcting a number of drafting and cross-reference errors in the Directive.

The amendments include:

• a correction to the list of provisions referenced in Article 2(7), replacing a reference to Article 21(1), first subparagraph, point (r) (which refers to rights in relation to linked credit agreements) with point (s) (which refers to the early repayment provisions in Article 29).
• an amendment to Article 3(20)(a), which defines linked credit agreement, clarifying that the credit itself, rather than the credit or services, must exclusively finance the relevant supply agreement.
• a correction to Article 10(5)(d) in relation to pre-contractual information for credit agreements providing different ways of drawdown with different charges or borrowing rates, that the relevant assumption is that set forth in Annex III, Part II, point (c) (not point (b)).
• a clarification in Article 16(2)(a) in relation to consumer information around the provision of advisory services concerning recommendations made by the firm, and specifically whether they are based on a firm's own product range or a broader market assessment.

The Corrigendum makes technical corrections only and does not introduce substantive policy changes to the consumer credit framework.

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