The general Article 47 rule for existing agreements
Article 47 of Directive (EU) 2023/2225 repeals Directive 2008/48/EC from 20 November 2026. It then expressly provides that the older Directive continues to apply to credit agreements existing on that date until their termination. This is a legal transition rule, not a statement that the 2008 text remains generally operative for every new agreement concluded afterward. It also does not mean that national law or other regulatory obligations disappear for existing contracts. A lender should identify which agreements were already legally concluded before the cutover and preserve the source supporting that classification. Product marketing date, application start date and agreement formation date may differ; only an analysis of the relevant contractual and national legal rules can resolve borderline cases.
The selected CCD2 rules for existing open-end credit
Article 47 creates an express exception for open-end credit agreements existing on 20 November 2026. It makes Articles 23 and 24, the second sentence of Article 25(1), Article 25(2), and Articles 28 and 39 of CCD2 applicable to all such open-end agreements. These address matters relevant to the continuing credit relationship, including changes in borrowing conditions, overdraft-related information, termination and debt-advice or repayment-difficulty protections as framed by the actual articles. The list is precise: it does not make every CCD2 origination or contract provision automatically applicable to legacy accounts. Firms should map each listed provision to the relevant national measure and specific type of facility. Avoid using a generic new law applies to everyone label in customer communications.
Closed-end and open-end agreements need distinct treatment
A fixed-term loan that was concluded before 20 November 2026 may continue under the earlier framework through termination under Article 47. An existing open-end or revolving facility needs a second assessment because the selected CCD2 articles can apply while other aspects remain under the old regime. The business should classify accounts by contractual type and relevant rights, not simply by the system in which they are stored. A credit card, line of credit or overdraft may have different legal characteristics and specific rules. Preserve the original agreement and subsequent variations, and identify the correct date when the agreement came into existence. The transitional classification should be reviewed against the national law's implementation of Article 47.
New lending after the cutover
National implementing measures for CCD2 must apply from 20 November 2026 under Article 48. Credit agreements concluded after that date generally require assessment under the new national framework if within scope. An application started before the cutover but accepted afterward may raise a formation-date question requiring national contractual-law analysis. Changing an existing agreement can also require review: a variation, refinance or replacement may have distinct legal effects. It is not safe to classify every renewal as a new contract or every modification as merely old servicing. Examine the transaction documents, consumer acceptance, relevant dates and national provisions. Operations teams should escalate ambiguous cases rather than decide legal classification from a technical timestamp alone.
Which data are needed for the transition register
A practical transition register should contain the creditor, Member State, product type, original contract date, applicable Directive or domestic regime, open-end status and any major amendments or refinancings. Add the selected Article 47 obligations where they apply, and a link to the national implementing provision. Customer service teams need to know which document set, notice obligations and relevant rights apply to each account. Keep distinct controls for newly originated products and affected legacy open-end accounts. A single toggle labelled CCD2 active may cause incorrect treatment across a portfolio. Test accounts created near the transition date, interrupted digital journeys and unusual servicing arrangements as well as routine loans.
How servicing teams should implement the exceptions
Implementation work may involve mapping changes in contractual terms, termination, overdraft communication, repayment difficulties and relevant access to support according to the specific provisions listed in Article 47. The first step is legal interpretation and national source verification, followed by technology and communications testing. A servicer acting for a creditor must understand the legal entity responsible for decisions and customer notices. Record versioned policies, agreement data and test cases showing how each population was treated. An outsourcing contract does not, by itself, remove a creditor's obligations. Where national implementing law supplies additional details or options, document their effect. This is an operating framework, not a claim that every suggested record format is mandated by CCD2.
Review after implementation and later amendments
The November 2026 cutover is a major event, but ongoing oversight is needed. Monitor the operative national implementing measures, competent authority statements, court interpretations and changes to the firm's agreement portfolio. An account can move into a different treatment category after lawful refinancing or other legally significant events, depending on national law. Maintain a dated legal rationale for the account's classification and for each control update. If the treatment of a legacy contract is disputed, do not silently overwrite the classification with a blanket assumption. Retain historical evidence showing which rights and procedures were applied at a particular time. Clear transition decisions matter for consumers and for later supervisory review.
Frequently asked questions
Are all consumer loans covered by CCD2?
No. Article 2 contains exclusions and special cases, and the consumer and creditor definitions also matter.
What happens on 20 November 2026?
Member States begin applying CCD2 implementing measures, subject to Article 47 transitions for existing agreements.
Can a country change how some requirements apply?
Certain Article 2 provisions permit Member State options, so national implementing law must be checked.
Primary sources
Directive (EU) 2023/2225, Articles 2, 3, 47 and 48 ↗Read the source in its current version. National implementing measures and product-specific applicability may require additional research.