The Board of the Bank of Lithuania has approved amendments to the regulation of consumer credit, which will enter into force on 20 November 2026. The amendments implement the new version of the Law of the Republic of Lithuania on Consumer Credit, which transposes into national law the provisions of Directive (EU) 2023/2225 of the European Parliament and of the Council of 18 October 2023 on credit agreements for consumers (hereinafter – Directive (EU) 2023/2225), as well as refine the regulation of the activities of peer-to-peer lending platform operators.
The amendments to the resolutions approved by the Board of the Bank of Lithuania provide for the following main changes:
1. Implementation of the new version of the Law on Consumer Credit. On 16 April 2026, the Seimas of the Republic of Lithuania adopted a new version of the Law of the Republic of Lithuania on Consumer Credit, which transposes into national law the provisions of Directive (EU) 2023/2225. The amendments to the resolutions approved by the Bank of Lithuania ensure the practical implementation of this Law.
2. Amendments to creditworthiness assessment and responsible lending requirements. In view of the fact that Directive (EU) 2023/2225 removed the exemption under which its provisions did not apply to consumer credit agreements where no interest and other charges are payable for consumer credit, a new exemption regarding the DSTI ratio is established in the Provisions on the Assessment of Creditworthiness of Consumer Credit Recipients and Responsible Lending.
Under this exemption, consumer credit providers will be able to apply up to 60 per cent of the ratio between the average monthly instalment of the consumer credit recipient under all financial commitments and monthly income (DSTI), if: (i) consumer credit is granted under a linked consumer credit agreement without interest and other charges; and (ii) the credit is intended for the acquisition of telephones, modems or routers necessary for the provision of voice communications and/or internet access services. The aim of this exemption is to ensure that some consumers receiving sustainable income are able, in the form of deferred payment, to acquire the above-mentioned communication equipment, the acquisition of which, under the general rules, in certain cases could become inaccessible.
3. New requirements for consumer credit advertising. The Credit Advertising Rules lay down more detailed requirements for the content, form and quality of the warning “Attention! Borrowing money costs.” provided for in the Law on Consumer Credit when used in consumer credit advertising. The amendments aim to ensure appropriate information to consumers about financial commitments and the risks associated with them.
4. Amendments to the regulation of the activities of peer-to-peer lending platform operators. The amendments also implement the provisions of the new version of the Law on Consumer Credit relating to the activities of peer-to-peer lending platform operators. In view of this, the supervisory, information provision and other operational requirements applicable to operators by the Bank of Lithuania are updated in order to ensure their compatibility with the new model of consumer credit regulation.
5. Updating of other legal acts of the Bank of Lithuania. The Rules on the Provision of Mandatory Information to the Bank of Lithuania by Consumer Credit Providers and Peer-to-Peer Lending Platform Operators, the Rules on the Administration of the Public List of Consumer Credit Providers and the Public List of Peer-to-Peer Lending Platform Operators, the Rules on the Administration of Public Lists of Consumer Credit Intermediaries and other legal acts of the Bank of Lithuania regulating the provision of consumer credit are refined.
TEGOS comment: The approved amendments to the legal acts of the Bank of Lithuania complete the implementation of the new version of the Law on Consumer Credit at the level of subordinate legislation. In view of this, participants in the consumer credit market, in particular consumer credit providers, consumer credit intermediaries and peer-to-peer lending platform operators, are recommended to already review their processes for creditworthiness assessment, advertising compliance, internal control and the submission of regulatory reports and prepare for the requirements applicable from 20 November 2026, updating internal procedures and control measures where necessary.
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