However, in response to a special question on the Federal Reserve’s April 2012 Senior Loan Officer Opinion Survey on Bank Lending Practices, nearly 85 percent of lenders reported that they were somewhat or much less likely than in 2006 to originate a mortgage to a borrower with a credit score of 620 and a down payment of 10 percent.
So far the EPC has done a good job, by publishing its rulebooks and recently also providing summaries of its industry discussions. However, more information could be provided on the EPC’s planning and how it deals with changes requested by stakeholders. Let me be clear: without a credible and decisive EPC, an integrated European retail payment market is hardly imaginable.