Joint Position Paper sent by EUF and Leaseurope on common rules for Insolvency

Final analysis of data collated by the EU Federation for the Factoring and Commercial Finance Industry (EUF) shows that factoring and commercial finance volumes in the EU grew overall in 2016 by 6.2% to €1.5 Trillion.

This rate of growth clearly outpaces the increase in GDP in Europe and again demonstrates the vital role factoring and commercial finance is playing in developing the real economy, providing principally SME businesses with much needed working capital. This success story is about real growth, real employment and demonstrable business success in supporting the ongoing recovery.

Around €200Bn of funding is supporting around 180,000 European businesses.

With factoring and commercial finance now representing around 10.4% of EU GDP, this is a powerful and important contribution to EU economic development and success.

Erik Timmermans, Chairman of the EUF, noted: "The continued growth in our Industry demonstrates again the vitally important role it plays in supporting the real economy in Europe. It’s great news for the Industry to be able to support so many European businesses in their development. It’s again critical that legislators and regulators recognize this Industry is a key contributer to wealth creation in Europe.”

 

Please find the Press release with turnover volumes by country here:

The EUF is glad to publish its latest Newsletter.

Highlights include:

  • Welcome from the EUF Chairman
  • Opinion Paper on EU factoring regulatory framework
  • Update from the Legal Committee
  • EU Factoring market in 2016
  • Factoring in prudential regulation

The Newsletter may be downloaded here:

EUF has sent the position paper on AML (re. beneficial owners):

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!