supplementing Regulation (EU) No 575/2013 of the European Parliament and of the Council with regard to regulatory technical standards specifying what constitutes an equivalent legal mechanism that ensures that a residential property under construction is completed within a reasonable time frame

This regulation clarifies rules for banks regarding loans for residential properties under construction. It ensures that banks have a clear understanding of when a property is considered completed within a reasonable timeframe, which is important for financial stability.

This affects banks and property developers. It aims to ensure that construction projects are completed on time, reducing risks for lenders and potentially speeding up housing availability for buyers.