Banking Law projects

Clawback of security in insolvency

(2012) The Banking Law Committee has prepared a guide to clawback of security in insolvency in the form of a questionnaire, with chapters from more than 25 countries. The guide describes the main types of security interest available, the basic features of the insolvency procedures and how security is clawed back in the framework of each such procedure. The material is intended as a high-level practical guide for practitioners and others who are looking for an introduction to the laws of each relevant jurisdiction. Read more

Bank finance and regulation: Multi-jurisdictional survey

Enforcement of security interests in banking transactions

The survey was sent to Banking Law Committee members in January 2010. The multi-jurisdictional responses are now available to read, by jurisdiction. The summaries from each survey have been published in the Banking Law Committee newsletter, May 2010.
View the surveys in full

Comments on EC study on tying and other potentially unfair commercial practices
In April 2010, the Committee wrote to the Directorate-General of Internal Market and Services of the European Commission regarding the Study on tying and other potentially unfair commercial practices in the retail financial service sector. Read the document voicing the committee's and its working group's views.
Mobile phone payments (m-payments) multijurisdictional survey

Responses were received from 16 jurisdictions* and are available to read in the Banking Law Committee newsletter May 2009. We would like to thank all contributors. 

The main aim of this survey was to explore whether the current legal frameworks in different jurisdictions allow for using mobile phones as payment instruments on a similar basis to debit or credit cards.

Conclusions

The survey indicated that the degree of readiness of legal systems to use m-payment solutions differs in countries that have already developed an m-banking system compared to those countries that lack the legal background for such a system.

There is also an interesting tendency: those jurisdictions where the concept of e-money was recognised have relatively fewer legal obstacles to implementing m-payment solutions. The regulations on e money were innovative and have, in effect, prepared the legal ground for more advanced payment solutions.

It would, at present, be very difficult to adopt a universal m-payment system. Regulations, even within the EU, are not harmonised. Moreover, differences exist in jurisdictions on the role of non-banking entities in m-payment structures. That all indicates that there are areas of law that still need to be developed. The good news is that in most of the jurisdictions that were surveyed, only some amendment to the existing legal framework would be required. It seems that, for example in many EU countries, the aim could be achieved by implementing the EU Payment Services Directive.

Dr Ewa Butkiewicz
IBA Banking Law Committee Publications Officer
ewa.butkiewicz@wardynski.com.pl

Further information on m-payments

*The countries covered are Bulgaria, Colombia, Denmark, Finland, Hungary, India, Indonesia, Malta, Poland, Portugal, Republic of Ireland, South Africa, Spain, Switzerland, the United Kingdom and the United States.

In early 2009, the Banking Law Committee conducted a multijurisdictional survey on the use of mobile phones as payment instruments (m-payments multijurisdictional survey).