The ELTIF regime has not, to date, proved a success and has lagged far behind the aim of contributing effectively to the real economy by facilitating retail investment in long-term investment. Proposed reforms seek to encourage such retail participation while also maintaining a framework of strong investor protection. The AIFMD review also represents a targeted approach to reform.
The new loan origination framework will create a common framework throughout Europe for lending activities by investment funds. In an area which has not so far been subject to regulation (except on a limited national basis), this is welcome. This has been an area of focus for the  Central Bank since we consulted on our own loan origination framework.