We are delighted to announce that we have updated our EUF Glossary of terms relating to the Factoring and Commercial Finance Industry and that this has now been published on our website here. The initial update is in English and other languages will follow shortly. We have also created here a list of Abbreviations and Acronyms that are in common use, both within the Industry and by stakeholders such as regulators and lawmakers. We hope that you will find these updates useful and informative!

The EU Federation for the Factoring and Commercial Finance Industry (EUF) and FCI have hosted a highly successful third Summit in Madrid.

A broad and extensive range of C-level participants gathered to consider and discuss the Industry environment and help inform the action plans of the EUF in addressing the opportunities in Europe.

Following two successful Summits in Brussels, this latest meeting was held in Spain, one of the five largest European commercial finance markets. Opened by a “state of the nation” review from Erik Timmermans, the Chairman of the EUF, keynote speaker Pedro Coman from the Bank of Spain addressed the importance of the industry in funding business.

The Summit also considered the significant legal, regulatory and accounting challenges as well as how the Industry might work with potential common interest stakeholders like the Leasing Industry.

Growth, innovation and development opportunities were also subject to detailed analysis and comment in a highly participative event.

The Summit provoked much debate and interest with many commenting on the importance of acting together to address the issues raised. As Erik Timmermans put it “the Industry is currently providing €180bn of funding to European businesses; the Summit has shown again the importance of communicating the benefits - and the particular nature of our Industry - to the regulators and lawmakers to ensure its continued success.”

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The EUF is glad to publish its latest Newsletter.

Highlights include:

  • Welcome from EUF Chairman
  • News on Legal Committee
  • Constant and stable growth – Factoring in Figures
  • The EBA update the definition of default in factoring

The Newsletter may be downloaded here:

EUF has sent a Position Paper on EBA’s Consultation Paper on Guidelines on Connected Clients under Article 4 (1) (39) of Regulation (EU) No 575/2013.

The EU Federation for the Factoring and Commercial Finance Industry (EUF) is delighted to share the Agenda of the 3rd Annual Factoring Summit to be held in Madrid on Thursday 26th January 2017.

This program provides Industry stakeholders with an unmissable opportunity to hear about and discuss with colleagues the latest developments in the European Industry.

The comprehensive agenda will include:

•    Erik Timmermans, EUF Chairman on The State of the Factoring Industry in Europe
•    Louis-Marie Durand, Euralia on The European political and regulatory landscape in 2017
•    Josep Selles, MD Gedesco on Spain showing the way into Reverse Factoring: An overview of the Factoring/ Confirming Industry in Spain, followed by a presentation of the International Reverse Factoring / Supply Chain Finance Initiative from FCI.
•    Leon Dhaene, Director General Eurofinas-Leaseurope giving an Update on the European Leasing Industry: Challenges & Opportunities, Leasing & Factoring - partners in advocacy?
•    Dirk Van Strijthem, CEO KBC Commercial Finance and André Casterman, CMO INTIX on Fintech: beyond the buzz. R3, Ripple, Trustbills, etc… An overview of some initiatives that may shape the Factoring Industry.
•    Antoine de Chabot, ad interim Chairman of the EUF Legal Committee, Diego Tavecchia, Chairman of the EUF Prudential & Regulatory Committee and John Brehcist, EUF coordinator and researcher for the EUF Legal Study will give a Legal & Regulatory Update for the factoring industry in Europe and share first findings of the brand new EUF Study on Legal & Regulatory environments for Factoring in Europe.
•    Diego Tavecchia Assifact, Sebastian Erich OFV et al will review and discuss IFRS and its influence on Factoring
•    Erik Timmermans, Chairman EUF and Françoise Palle-Guillabert, Vice-Chairman EUF will gather the themes by Bringing it all together; should we / can we come to a harmonized Legal & Prudential environment for Factoring in Europe?

This comprehensive day of information and discussion is not to be missed by anyone who has a stakeholding position in the EU Factoring and Commercial Finance Industry.

Visit the event page for further details and information on how to book your place.

Erik Timmermans, Chairman of the EUF and Deputy Secretary General of FCI commented “The Annual Factoring summit is rapidly gaining a reputation for being the place to be to get a clear picture of the developments, opportunities and challenges the European FCF Industry faces; don’t miss this opportunity to contribute to its future.”